Car Park Investment - Is it a Scam?

Katiewhy2

I don't think it is- They have advised to stay well clear and to report them. Deffo a scam.

Jemeriah

A friend of a friend, was sold on this opportunity, by the time my misgivings were relayed to him,it was too late. However I can now witness his confidence was severely misplaced. The many comments here, about too good to be true have been proven to be correct. It would appear in Toby's world, there are no constraints,on how good it can be, and indeed how many times it can be done. In my naive way, I realized events like this happened, I did not understand, this could be done repeatedly, with impunity, and adopted as a business model. My empathy goes out to those taken in.But in the absence of any meaningful justice, the parasites and predators will prevail, their affluence is dependent on your poverty.

spartan91

As a victim, I applaud the well considered statement by Jemeriah.

clubconsoles

eskbanker wrote: »

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....

great post, very helpful eskbanker.
I fell for the HSL scam but managed to get my full investment back via a section 75 claim.
I cannot believe i was so gulible, but i have learned by my mistakes!
As you say, cold called, not FCA regulated, and refund/ Buy back offers to falsly reassure you positively and Loudly ring SCAM alarm bells now!
So thankful for these MSE forums where we can check out the real deal with these so called " investment opputunities"
The HSL Scam was full of fake reveiws that where coming up before the MSE forum mentions, but by posting these scams on here we can get the MSE reviews to the top of the page and so save others from falling victim!!

spartan91

You state that, "I fell for the HSL scam but managed to get my full investment back via a section 75 claim". What is section 75 claim?

ColdIron

Section 75 refunds

https://www.moneysavingexpert.com/shopping/section75-protect-your-purchases/

atkin12

I have a space at Mac Dowell Street Glasgow. The solicitors involved were JWK I was given a land registry document .I checked the land registry and there are 11 for the address .I assume these were group spaces done together .I have contacted JWK. but no reply at present .I am wondering if there is some chance of recourse if there were negligent in actually registering them. In the event the title and registry deeds are genuine then the space must be worth something.

Katiewhy2

Are JWK replying to you at all?

heggers

Hi Everybody

I too have been scammed by Park First. I bought one space from them in 2014.
I am not prepared to let them get away with this. I have looked at getting involved in a collective action with a Law Firm from London but something does not seem right.

Does anybody know of any genuine group actions that I can join?

The First Group is a large company and cannot be allowed to operate in this way.

There are 6500 investors according to some reports I have read so I'm sure that we can do something between us?

Any Thoughts on the subject are welcome.

For info I live in Abu Dhabi and I am looking into this GRL Group in Dubai to see what they are all about.

Thanks

Zanderman

heggers wrote: »

The First Group is a large company and cannot be allowed to operate in this way.

Indeed it is a large company. But is it First Group you are after? Or Group First? Not the same outfit.

Wikipedia tells us that:

FirstGroup plc is a multi-national transport group, based in Aberdeen, Scotland. The company operates transport services in the United Kingdom, Ireland, Canada and the United States. It is listed on the London Stock Exchange and is a constituent of the FTSE 250 Index.

This is definitely true. And it is a big company.

Whereas Group First's website makes no mention of any the above and just says:

Group First is one of the leading property investment, design and development companies in the UK.

This may or may not be entirely accurate - not sure I believe the 'leading' bit. And I doubt it's a big company like First Group.