Oracle Home Ltd Property Investment

Sultan67

My parents have been investing with this company and I believe it is a scam and they’ve been had. Anyone else heard or dealt with them?

Keep_pedalling

Never heard of them.  Company registered earlier this year with nothing more than a virtual office address, a very vague website and not regulated by anyone, so I think you are correct in that it is a scam.

eskbanker

Yes, website is very vague and if they can't even spell a key word like 'advice' then you'd have to question its professionalism!

Professional Advise

Our aim is that you are completely satisfied with our services. That’s why we not only provide professional advise before you get involved in any fund. We are also there to help you afterwards, serving as reliable support.

Please don't say your parents heard about them from being cold called....

flaneurs_lobster

eskbanker said:

Please don't say your parents heard about them from being cold called....

.....or saw them being endorsed by a celebrity on Facebook....

Aretnap

Best case scenario is that this is a very high risk investment in a company that didn't exist six months ago, with a single director, no regulator and almost no publicly accessible information about what they actually do. They will have very little comeback if things go wrong, which they very likely will.

I repeat, that's the best case scenario.

They should probably regard any money they have already handed over as gone, and certainly not hand over any more.

Bigwheels1111

I'm sorry to say they will not be the first or last to fall for these type of investments.

My friend contacted me and asked what I though about one of these type of offers.

Plus one where you buy a plot of land that MIGHT in the future get planning permission for homes etc.

I said I would not invest, Looks to good to be true.

On both I was proved right.

I go for next to no risk, ie fixed rate accounts.

This week he want to know if crypto was good, What can I say.

He loves facebook.

Sultan67

Thanks for the responses.  It does appear as if they have been scammed. Even collecting cheques in person from my parents. Their bank are on it. And it was them first signalled the alarm bells by cancelling a cheque for five figures. Police will be reported to and hopefully getting involved. Anymore advice would be appreciated.

TheBanker

Sultan67 said:

Thanks for the responses.  It does appear as if they have been scammed. Even collecting cheques in person from my parents. Their bank are on it. And it was them first signalled the alarm bells by cancelling a cheque for five figures. Police will be reported to and hopefully getting involved. Anymore advice would be appreciated.

Unfortunatly, the fact they paid by cheque means they have limited protection from their bank. The voluntary code that covered re-imbursement of scams by the big banks (prior to the 7th October regulations taking effect) only covered electronic payments. I have seen cases go to FOS where someone has been scammed by cheque and FOS seem to take the view that the bank's only obligation is to satisfy themselves that it was the customer that signed the cheque.

Unfortunatly, at this stage the Police might not be interested either. It would be very difficult to show that the company intended to defraud investors, rather than just being a very high risk business opportunity. 

It is good that the bank stopped one of the cheques, but I am afraid to say you may struggle to recover any money already paid over. You also need to carefully check whatever paperwork your parents signed - they may be committed to making further payments and in the eyes of the law an unpaid cheque can represent a debt that could be recovered through the courts. 

Sultan67

Apparently there are demands for money as part of the contract which we also believe to be set up from an east to obtain template and also late payment fees. Police are getting involved. 

eskbanker

Sultan67 said:

Apparently there are demands for money as part of the contract which we also believe to be set up from an east to obtain template and also late payment fees.

Please emphasise to them that any 'contract' formed with scammers is effectively unenforceable, so they shouldn't consider themselves to be bound by it, even if that's their natural instinct.  Having said that, if there were ultimately papers from an actual court then that would be different, but it's vanishingly unlikely that outfits like this would take it that far and subject themselves to scrutiny....

jimjames

Sultan67 said:

Apparently there are demands for money as part of the contract which we also believe to be set up from an east to obtain template and also late payment fees. Police are getting involved. 

As above police are unlikely to be interested if it is a genuinely setup company that is offering an investment albeit we'd see it as a high risk/scam. Even one like London Capital and Finance had all the appearance of being legit despite ultimately taking £237m  of investors money. Even now 5 years on, now charges have been brought.