Property Investment Scam

Dineen33

Jeffers_the_Red wrote: »

Can I just repeat, this was a fraudulent company, it wasn't a high risk investment that went wrong. If anyone has constructive advice on how best I should proceed then please let me know. It doesn't really help to be told that I'm basically a plonker who deserves to lose all their money. Constructive advice on how to approach Nationwide and the Financial Ombudsman or any other avenues would be appreciated.

I am being constantly contacted by other companies telling me that as it was a property bond that there is still value in it. I'm aware that these are probably also all scam companies and that I must be on an idiots' list used by fraudsters but I'm wondering if there is still value in the bond or if the company has gone into administration, whether I can put in a claim with the liquidators or the company's bank.

No-one deserves to be scammed but people are every day.
There is an idiots list (well, several), I'm on at least two.

The money is lost, learn and move on.


Did I mention I have some magic beans for sale ?


Caveat emptor.

MTFII

Jeffers_the_Red wrote: »

I invested in a year long bond in a company called Minerva Development. The bond matured but when I tried to contact them I was diverted to ActionFraud (the police). My building society (Nationwide) have told me that they cannot reclaim from Minerva's bank (Lloyds) and that they themselves are not liable as they aren't at fault.

I am not happy with this obviously but I don't know the best way of complaining about this and what my chances of being able to reclaim the money from Nationwide are. Has anyone got experience of this and in a position to offer advice?

Thanks.

Anyone contacting you saying they can recover your money if you pay them is a recovery scammer / fraudster (fraud targeting victims of previous fraud) so note down their name and number if available and hang up.

How did you come to invest in Minerva bonds in the first place? For example were you cold called, did you respond to an online advert? If so who sold the bonds to you?

Your best hope of recovering anything is if criminal proceedings are brought against the perpetrators with the authorities able to trace and recover some of the funds. You say you were diverted to Action Fraud when you tried to contact Minerva. What did Action Fraud tell you? If a case has been opened then you need to get all your evidence together and submit it.

I am hearing of a number of victims of Exmount / Minerva and some infamous boiler room names are cropping up so there is a chance this one will be one of the rare investment frauds where action is taken.

Malthusian

MTFII wrote: »

I am hearing of a number of victims of Exmount / Minerva and some infamous boiler room names are cropping up so there is a chance this one will be one of the rare investment frauds where action is taken.

Very unlikely. Amir Demoussi, who promoted the Exmount incarnation of the scam for 40% commissions, has faced absolutely no action other than his company being wound up. There is no sign in the public domain that any further action was taken against him after May 2019.

MarkCarnage

Very unlikely. Amir Demoussi, who promoted the Exmount incarnation of the scam for 40% commissions, has faced absolutely no action other than his company being wound up. There is no sign in the public domain that any further action was taken against him after May 2019.

And it's situations like this that give the regulators a bad name, and might encourage some to go down the, ahem, baseball bat route.....

spzara

Minerva, even though under police investigation are continuing to scam people. You can find their new active website, email and telephone numbers on:
Focused-projects.co.uk
info@focused-projects.co.uk
020 7887 2960
07855241125
I contacted them and they finally accepted that they are Minerva Development Group and then said that they will try to help find out what is happening with my investment and will see if they can get me, my interest payments, although this was over a week ago. Like before this may just be lies but you can actually speak with someone. I think we should all contact them, so they know we haven't gone away

coyrls

spzara said:

Like before this may just be lies

How can you use the word "may"?  I would suggest "will".