Car Park Investment - Is it a Scam?

eskbanker

Katiewhy2 wrote: »

Its easy to see in hindsight isn't it?
But these companies are very professional and put forward a very good case- They say its easy to get your money back when you want out etc etc

But the point is that the warning signs are there in advance, rather than having to rely on hindsight. Many posters come on these boards asking about whether certain investments are trustworthy, safe, etc, before committing, and are dissuaded from those best avoided before it's too late, but obviously many also post on here after the event.

The situation has undoubtedly been exacerbated by a lethal combination of low interest rates on savings and sustained growth in equities over a lengthy bull run, which has led many to seek better returns than can be achieved in safe savings, but it's too easy to be seduced by tempting figures, however illusory they may be.

So, for anyone looking for guidance about what to invest in, the "if it looks too good to be true...." adage is a concise summary, but obviously there are a range of checks that can be made, especially the degree to which accounts and schemes are protected by FSCS and the level of actual FCA regulation involved. Anything involving cold calling should be avoided as a matter of principle.

But if in doubt, searching on here and then (if necessary) posting questions, will generally deliver a fairly quick assessment of the wisdom of choosing specific investments, or even whether to invest at all, as opposed to staying in cash....

badger09

AnotherJoe wrote: »

You unfortunately seem to havea predilection for putting your money into out and out scams. I suggest you find a good IFA and have them manage what is left of your money in case you chase more unlikely prospect to try and recoup your losses.

Indeed.

Taken in by both Park First & Heron Global DCR minibonds, very unfortunate:cool: I wonder what thought processes you went through before deciding that these were both excellent schemes in which to 'invest' large sums.

Still, hopefully the Facebook action groups will help with your recovery.

jimjames

I've been somewhat surprised to see that people who have invested with London Capital & Finance were also looking at similar offerings from Basset & Gold, Blackmore Bonds and student lets property investments.

If it's not FSCS protected and is unregulated then the vast majority of the population should not touch. I don't know how that education message can be got out when people avoid stock market investments because they think it's too risky yet throw money at unregulated ones that are off the scale in comparison.

Katiewhy2

How are you getting on with getting your money back?

badger09

Katiewhy2 wrote: »

How are you getting on with getting your money back?

Who are you asking?

How are you getting on with getting your money back?

Katiewhy2

Sorry, I'm asking pika_doh9 - The person who posted the initial post.

ColdIron

I wouldn't hold your breath

• Last Activity: 07-12-2017 7:08 PM

Aretnap

Katiewhy2 wrote: »

Sorry, I'm asking pika_doh9 - The person who posted the initial post.

He/she hasn't logged in for over a year (in fact since the day the thread started) so I wouldn't hold my breath waiting for a reply.


(Cross-posted with ColdIron)

Malthusian

gardner1 wrote: »

No sorry disagree there......as the old saying goes "If something seems too good to be true".......AVOID

8% a year is not too good to be true.

Katiewhy2

Be careful of the calls from GRL offering to buy back the car parking spaces for more than what we paid for them- They will handle all the paperwork etc etc and its easy and straightforward as they have a company that wants to buy them up for a concierge service.
A little bit of google searching and its likely to be another scam