Fraudulent investments?

in Savings & Investments
114 replies 19.4K views
167891012»

Replies

  • SeaPrince1SeaPrince1 Forumite
    14 Posts
    Hi,

    Regarding Munio, I have it on good authority that Jade State Wealth, the trustees of the company, were only authorised for one day (19/10/17) and now appear to have been dissolved. Why would a company be authorised for one day only? Is this suspicious? I have also discovered that my so-called IFA's registration lapsed in 2012 and he failed to disclose this to me. I had done business with him previously and was unaware of him not being authorised at the time of the investment. He is now uncontactable by telephone. I have contacted an investment recovery company but it appears that because Jade State Wealth, the IFA and Munio were not authorised by the FCA, they are unable to help and they have advised me that a solicitor may be the only option now available. Does anyone have any further information?
  • edited 8 May 2019 at 9:50AM
    ReaperReaper Forumite
    7.2K Posts
    Part of the Furniture 1,000 Posts Photogenic
    Forumite
    edited 8 May 2019 at 9:50AM
    SeaPrince1 wrote: »
    Regarding Munio, I have it on good authority that Jade State Wealth, the trustees of the company, were only authorised for one day (19/10/17)
    The good authority is close, but not quite right. They were authorised 19/10/17 then lost it again on 25/10/2017
    https://register.fca.org.uk/ShPo_FirmDetailsPage?id=001b00000413XvBAAU
    It's certainly odd. There must be story behind it.
    SeaPrince1 wrote: »
    and now appear to have been dissolved
    No, they still exist
    https://beta.companieshouse.gov.uk/company/07688855

    By the way although Jade's web site say they are wholley owned by Accounting Worx Limited that is out of date as their name has now changed to Inchmead Ltd
    https://beta.companieshouse.gov.uk/company/05977454
  • Message to M Elliott, Had letter from Grant Thornton some weeks ago in regard to our problem,saying the company was dealing with the liquidation and a claim had been lodged on behalf of all investors,since then I have tried to contact Munio but nobody is talking .I would appreciate any info on this matter. Graham Vodden
  • MalthusianMalthusian Forumite
    9.8K Posts
    Seventh Anniversary 1,000 Posts Name Dropper Photogenic
    Forumite
    Message to M Elliott, Had letter from Grant Thornton some weeks ago in regard to our problem,saying the company was dealing with the liquidation and a claim had been lodged on behalf of all investors,since then I have tried to contact Munio but nobody is talking .I would appreciate any info on this matter. Graham Vodden

    No sign of any liquidation in the Gazette or on Companies House, though that doesn't exclude the possibility that things are going on behind the scenes.

    If the people claiming to be Grant Thornton ask you for money (or anyone else does) it's another scam.
This discussion has been closed.
Latest News and Guides