NPD/MBI Investmen

lianghsin328

Hi I've invested in a hotel room with the NPD or formerly known as MBI, now they've gone into administration {Text removed by Forum Team}. We have formed a group to lodge our claims against the company. We have about 80 people in the group and we need more people to form a bigger group in order to bring this into the Parliament. Could anyone who has invested or if you know anyone involved in this scam, please get in touch with me by sending an email to {Email address removed by Forum Team}, I will then invite you to join our FB group, thanks.

Please trust me that I am also one of the investors.

masonic

Throwing good money after bad?

AnotherJoe

in order to bring this into the Parliament

That makes no sense to me. Can you explain?

Do you mean to go after the utterly useless and inept FCA for not shutting them down sooner? Or the police?
Though, to be fair, anyone with half a brain should have seen that "investing" in hotel rooms is a catastrophically bad idea. No hindsight needed.

lianghsin328

Do you have a good suggestion as to what we can do?

Prism

Yes forget about it and move on

AnotherJoe

Report to action fraud, see if your MP can get police to look into it, and then walk away, they've run off with the money have they not? Any money you spend on litigation is likely good money after bad. No doubt it's all dressed up as bad business decisions rather than out and out fraud but in any case I bet the moneys all gone or unreachable.
What were you expecting "parliament" to do other than reprimand the FCA? You would / should have been aware going into this that there were no guarantees and no protection.

sendu

AnotherJoe wrote: »

Though, to be fair, anyone with half a brain should have seen that "investing" in hotel rooms is a catastrophically bad idea. No hindsight needed.

To be fair, my father invested in a hotel room and claims to be making lots of money off it. Perhaps he just got lucky.

Reaper

sendu wrote: »

To be fair, my father invested in a hotel room and claims to be making lots of money off it. Perhaps he just got lucky.

Was it recently? Typically these dodgy schemes pay out early on while they are persuading more people to invest before collapsing.

By the way there are already a couple of threads on MBI/NPD such as https://forums.moneysavingexpert.com/discussion/5710736/mbi-and-northern-powerhouse-developments

Brian65

sendu wrote: »

To be fair, my father invested in a hotel room and claims to be making lots of money off it.

Believe that when he has got the money out and in his bank account.
Be very wary of anything that asks you to 'invest' in something like a car park space, storage pod, or hotel room. Designed to make people think its more solid asset than a share certificate. But it isn't.
Even if its genuine you are depending on someone else to fill it for you, take the money, and pass it on to you. All on trust.

Aretnap

sendu wrote: »

To be fair, my father invested in a hotel room and claims to be making lots of money off it. Perhaps he just got lucky.

These investment schemes are usually set up so that you do make good money in the first couple of years or so (if you ignore or don't realise the fact that it's actually just some of your own money being paid back to you). Then the "guaranteed" 8% (or whatever) return period expires, your income drops dramatically and you're left with an asset which you can't sell at any price. If your dad has successfully sold his room at a profit, or has made more than his original investment in rental income then he can claim to have made a good investment. If not then it still remains to be seen whether it will come good for him... though if I were a being man...

AnotherJoe

sendu wrote: »

To be fair, my father invested in a hotel room and claims to be making lots of money off it. Perhaps he just got lucky.

I suspect the fraud part of the scam hasnt kicked in yet. If he's made money, that would mean he has got his original investment back. Has he?

If for sake of argument, he put in £50k and has been paid (say) 10% "interest" the past couple of years, all that means is, they have given him back £10k of his own money. The fun will start when either he tries to sell it on to some one else, or the scheme stops paying out.