'Guaranteed 12% return' on investment

Malthusian

Reaper wrote: »

A lucky escape I think. It's a shame you don't have the name or we might have been able to see what presence they have on the internet (Companies House etc).

Plus other people Googling the name of the investment might be warned off.

ChopperST

Sounds like your friends heeded your advice. Shame they didn't string him along and blag a free lunch out of him while they were at it. That would have been very MSE!

BarleyGB

If only life was as easy as a 'guaranteed 12% return'. Its not and nor is the claimed return. If it was guaranteed these scammers would be able to convince a bank to lend them £10 million at X % making a tidy profit.

Avoid at all costs.

webjaved

ChopperST wrote: »

Sounds like your friends heeded your advice. Shame they didn't string him along and blag a free lunch out of him while they were at it. That would have been very MSE!

Shame they didn't get a picture of this thief. I definitely would have blagged a free lunch out of him. Blimey, been a while since I heard or used the word "blag" :rotfl:

Beenie

An update. My friends are now looking into a company called Elite Investor, run by a Graham Rowan. He specialises in care homes and a holiday park/resort in Wales (the Afan Valley, I think). Anybody here heard of him, or dealt with him?

We think it's the same old tripe, but our friends have been talking to others who disagree with our assessment. We are being too cautious, not sophisticated, not everyone is a huckster etc. etc.

What do you think?



https://www.eliteinvestorclub.com/

ColdIron

I think your friends should give their head a wobble, did they read the disclaimer?

• Elite Investor Club is a trading name of Elite Investor Club Group Limited. Elite Investor Club Group Limited, its directors and staff are NOT licensed, qualified or authorised to give investment or tax advice
• The investments that we show are unregulated and therefore not covered by the Financial Services Compensation Scheme (that covers up to £75,000 in a High Street bank).
• Unregulated investments are not covered by the Financial Ombudsman scheme so you will not have redress there if anything goes wrong
• Because we are not licensed, we are not able to obtain professional indemnity insurance cover so there is no policy you can claim against

https://www.eliteinvestorclub.com/disclaimer-and-risk-warning/

dunstonh

An update. My friends are now looking into a company called Elite Investor, run by a Graham Rowan. He specialises in care homes and a holiday park/resort in Wales (the Afan Valley, I think). Anybody here heard of him, or dealt with him?

Your friends are stupid.

Sorry but there is no other way to put it. Why don't they just give all their money to charity if they are that desperate to lose it?

Reaper

Beenie wrote: »

He specialises in care homes and a holiday park/resort in Wales (the Afan Valley, I think). Anybody here heard of him, or dealt with him?

That sounds very familiar. There is another thread about a company called Northern Powerhouse building a holiday park in the Afran valley too which many are wary of. Apparently there is a link between the two so that would be a good place to start reading.
https://forums.moneysavingexpert.com/discussion/5710736/mbi-and-northern-powerhouse-developments
(mentioned in post 5 and 43)

Beenie

They aren't stupid - that's the worrying thing. They have in the past run successful businesses themselves, and their income puts them into the so-called 'elite class of investor' who doesn't need protecting by the FCA rules.

There is also a lot of snobbery (I think) where the bumf talks about the 1% successful types, the politics of envy, and don't let the government tell you where to invest your money. It's playing to people's ego and self-importance.

Why they can't see through this is an enduring mystery to me.

Reaper

It's true being "high net worth" the unregulated sharks are allowed to feed on them, but that doesn't mean they need to jump in!