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Fortress Legal Finance

edited 30 November -1 at 1:00AM in Savings & Investments
10 replies 1.3K views
the_trainwatcherthe_trainwatcher Forumite
4 posts
edited 30 November -1 at 1:00AM in Savings & Investments
I was contacted a year ago by a company called Global Reach Marketing, who offered me an investment into a company called Fortress Legal Finance. I invested within their fixed term fund paying 7.12% per annum. I was expecting a return as of March 2019. They have told me that the returns have been delayed. Has anyone had any dealings with this company please help

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  • ColdIronColdIron Forumite
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    In your reply to another thread you said ...
    If it sounds to good to be true it usually is
  • edited 23 April 2019 at 10:12AM
    MEM62MEM62 Forumite
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    edited 23 April 2019 at 10:12AM
    A return of 7.12%? You know what they say about things that sound good to be true, don't you.
  • dunstonhdunstonh Forumite
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    This is an extremely high risk 100% loss potential investment. If you took a 1-10 risk scale of conventional options, this would be about 15. i.e. completely off the scale.

    It has no FSCS protection and is an unregulated investment instrument and can only be promoted to investment professionals or via advisers. It should not be marketed to retail consumers.

    Global Reach Markets Limited is an advisory firm. So, you may get FSCS protection on that front and currently the firm is authorised. So, you are able to use the FInancial Ombudsman Service.

    Did you know this was an extremely high risk non-retail investment product?
    I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
  • scoot65scoot65 Forumite
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    You say you were "contacted by a company ..... who offered me an investment....."

    A cold call sales pitch? Oh dear, I wish you well........
  • AnotherJoeAnotherJoe Forumite
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    Do you often pay thousands of pounds to people who phone you up? If so, get rid of your phone.
    I am confident that your returns have been "delayed" indefinitely.
    You will never see that money again.
  • dealer_winsdealer_wins
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    Have to agree with others that you have probably been scammed and will lose all your money in this!
  • edited 19 April 2019 at 7:22AM
    Reed_RichardsReed_Richards Forumite
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    edited 19 April 2019 at 7:22AM
    ...They have told me that the returns have been delayed.
    There are some other threads where the same thing happened with other "investments". They don't end well.
    Reed
  • AretnapAretnap Forumite
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    This Fortress Legal Finance?

    https://beta.companieshouse.gov.uk/company/09910024

    It was a little bit optimistic to expect any sort of return from a company that has only ever filled dormant accounts and which was known as Robert Dodd Watches Limited before it decided to diversify into funding litigation by selling junk minibonds to punters. I'd say that the money you have them is long gone. If you are very lucky you might have a route to getting it back by complaining about bad advice to a regulated intermediary as dunstonh outlines.

    For future reference, reputable companies do not sell investment products by cold calling, so if you receive any unsolicited contact inviting you to invest money somewhere it is almost certainly a scam, even if the company does have reassuring words like 'global' 'fortress' or 'castle' in its name (anybody can set up a one man company from their bedroom and call it Global Fortress Security if they want to). This is particularly important as now you have fallen for this once, you have a high likelihood of being targeted by other equally unscrupulous firms. Also if anybody contacts you to tell you that they can get your money back in turn for an upfront fee, that will also be a scam.
  • Like trainwat i too was contacted by global reach and invested in fortress legal finance and got my first payment around the expected time ..I used to get reassurance from the person who recommended me and who proclaimed he would monitor the company.Months ago his phone went dead as did all the other lines he used i have been in touch with global reach who dont have any recollection of him .Would be nice to talk with him D.M that is
  • edited 6 November 2019 at 1:27PM
    eskbankereskbanker Forumite
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    edited 6 November 2019 at 1:27PM
    thetraincrashwatcher hasn't been seen on here since the day the thread was started, probably still sitting waiting for the Investment Returns Replacement Bus Service.... ;)

    Seems the company has now been renamed to FLF Litigation Services, but could well have changed again by the time anyone reads this.

    https://bondreview.co.uk/2019/08/22/we-review-fortress-legal-finance-litigation-funding-bonds-paying-7-12-11-5-per-year/
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