Fine Art "investment" mistake

Rob_S

It turns out my elderly father has invested a considerable sum of money in "fine art" with TheLondonArtSociety (.com), to the extent that he has emptied his savings and exceeded the credit limit on several credit cards. I tried googling this company, but apart from their website, can find no mention of them anywhere.

They have been bombarding him with phone calls presurising him and promising outsized investment returns, and have persuaded him to give them everything.

Does anyone have any experience of this company? Is this a legit firm? Or a boiler room scam?

Either way, what are his options?

I don't even know where to start looking to try to help him. Excluding company pensions, I've never invested in anything more exotic than a cash isa.

Thanks for any help/advice

Rob

Stubod

..the fact that this does not google suggests you prepare yourself for the worst?

Did he have any correspondence from them?

ischris85

They exist on Companies House https://beta.companieshouse.gov.uk/company/11823901

harsh_but_fair

Well it is likely that he has lost everything or at least a good proportion and it is highly unlikely that he will ever see any of his money again.

The best way you can help him is to make him understand that he has no money left

Rob_S

The Registered office address listed on Companies House is different to the office address listed on their website (I'm too new to post a link, but it's essentially their name followed by dot com)
How do you tell if they are the same company?

Rob_S

The Registered office address listed on Companies House (34 Acre Lane) is different to the office address listed on their website (Inwood House, 1-3 Elliott’s Place). I'm too new to post a link, but it's essentially their name followed by .com.
How do you tell if they are the same company?

Rob_S

Also, if he paid for some of the "investment" on his credit cards, and the investment is a scam, could he not claim on the credit card, under section 75 of the Consumer Credit Act?

Rob_S

I will try to find out if he has had any written correspondence.

Username999

The director is Michael William DOUGLAS, born May 1944. Company incorporated Feb 2019.
He is/was a director of 21+ other companies, 16 of which are dissolved.
https://beta.companieshouse.gov.uk/officers/gLzi3bPorzw9fO3yqN6gn6Xbbpo/appointments
 

Grumpy_chap

I assume your father doesn't actually have any of the "fine art" delivered to him?  If there is a collection of van Gogh's behind the sofa, then great.  If not, this is a scam and the police should be involved.

Alistair31

What sort of money are we talking about here?