Harewood Associates - the final word

Reaper

Do a forum search for "Harewood Associates" and you will see every thread there has ever been discussing them has been closed.

Well just to wrap the subject up they have now gone bust owing millions.

Details here:
https://bondreview.co.uk/2019/06/05/harewood-associates-goes-into-administration-owing-32-7-million/

AnotherJoe

As one of these shyster companies closes, another will open, and the FCA and Advertising Standards will continue to do nothing and stupid people will continue to pile money into these.
I'm not sure whose the most to blame. Then former two I suppose as they do have a remit to protect stupid people from themselves and are singularly failing to do so, but reading this article their adverts even said it wasn't protected, it wasn't like others where the protection statement was disingenuous, so how much more warning do people need ?

LobsterMemory

AnotherJoe wrote: »

I'm not sure whose the most to blame. Then former two I suppose as they do have a remit to protect stupid people from themselves and are singularly failing to do so,

Please dont criticise my spelling. It's excellent. Its my typing that's bad.

Think it's more likely your Autocorrect

AnotherJoe

LobsterMemory wrote: »

Think it's more likely your Autocorrect

The combination of my typing and autocorrect often leads to far worse than that.

dunstonh

Hmm. I wondered why MSE Investigator was reading an old email (I have email tracking which tells me when the recipient has read the email).

Once again, a company that threatens the board and its posters goes under taking consumer money with it.

verybigchris

dunstonh wrote: »

Once again, a company that threatens the board and its posters goes under taking consumer money with it.

I would love MSE to come out and publicly disclose what happens behind the scenes when scammers try legal routes to shut us up. Obviously it's tricky when the scammers are still in operation, but they could share communications with firms that have folded to give a really valuable insight into how these scams are marketed.

I'm particularly keen to find out what communications they had with LC&F. If anyone feels likewise, feel free to chip in on this feedback thread.

Malthusian

AnotherJoe wrote: »

but reading this article their adverts even said it wasn't protected, it wasn't like others where the protection statement was disingenuous, so how much more warning do people need ?

Actually Harewood's adverts were disingenuous:

- they lied that investors' money was safe because it was secured on property (if this security turns out to be sufficient to pay all investors in full after the administration concludes, I will eat my hat)
- they lied that their investments didn't need them to be authorised by the FCA (they did)
- they claimed their meaninglessly short track record meant they were safe

1 and 3 were specifically singled out by the FCA as non compliant when they belatedly shut down LCF.

iambrad

Did any of these investors get legal advice or assistance before investing with them?

I have read some of Harewoods sales literature online and it says a solicitor is used to set up the SPV and share structure. And a solicitor is used for regular compliance checks.

I'd like to see the a copy of the documentation the investors signed.

poppy10_2

Are we allowed to post this article now?

https://www.morningadvertiser.co.uk/Article/2011/07/14/The-boom-a-field-day-for-spivs-and-sharks

atush

Reaper wrote: »

Do a forum search for "Harewood Associates" and you will see every thread there has ever been discussing them has been closed.

Well just to wrap the subject up they have now gone bust owing millions.

Details here:
https://bondreview.co.uk/2019/06/05/harewood-associates-goes-into-administration-owing-32-7-million/

Now can we ask MSE to reinstate the closed threads?

Jones101

How can you call the majority of unfortunate people who have retired or well into their pension years as stupid? These investment companies are run by crooks who pray on the people looking for alternative savings, are assured by the pitfall safety nets then cruelly duped. Yes your spelling and grammar is that bad.