inside track collapses

jamescredmond

at last.

posted a profit >£12m for '05.

posted a loss of £97k - for jan alone- this year.

so it's 'adios' for this odious little outfit, who successfully lured so many gullibles in with promises of untold btl riches and dislocated the market to the disadvantage of ftb'ers.

source: yesterday's guardian, if someone wants to post a link.

mdj1

I had to laugh when I read this.

I know of two people who got "brainwashed" at one of these weekends!

I bet there are a lot of BTL'ers out there with brown pants today!

Generali

jamescredmond wrote: »

at last.

posted a profit >£12m for '05.

posted a loss of £97k - for jan alone- this year.

so it's 'adios' for this odious little outfit, who successfully lured so many gullibles in with promises of untold btl riches and dislocated the market to the disadvantage of ftb'ers.

source: yesterday's guardian, if someone wants to post a link.

Administration can just be a way of closing a company down in an orderly way. As the article says, it is unclear how much profit was due to intercompany flows between their various companies and the holding company - if I was putting a company into administration and it had a subsidiary in a low tax place (like IT do with their company based in the Isle of Man) I know where I'd be looking for the money to end up.

I agree that poverty couldn't happen to a nicer bunch of shysters. It hasn't happened in this case I suspect.

WTF?_2

Generali wrote: »

Administration can just be a way of closing a company down in an orderly way. As the article says, it is unclear how much profit was due to intercompany flows between their various companies and the holding company - if I was putting a company into administration and it had a subsidiary in a low tax place (like IT do with their company based in the Isle of Man) I know where I'd be looking for the money to end up.

I agree that poverty couldn't happen to a nicer bunch of shysters. It hasn't happened in this case I suspect.

I wouldn't be at all surprised if this is a move to head off what must be a torrent of mis-selling court cases coming their way.

Cinderbrook

A similar `seminar` company, Property Power has neatly avoided going bust by reinventing itself as a specialist in distressed properties. But still offering `investors` no money down deals. So for example a flat in Forest Hill SE Londno costing 275K can be bought via them for about £2500 with a 15% mortgage via them. Be interesting to see how long they can go spin this one out.

How I would have liked them to be investigated by the FSA. I went to one of their seminars and the several of the methods of purchase they were suggesting were fraudulent.

Vincenzo

!!!!!!? wrote: »

I wouldn't be at all surprised if this is a move to head off what must be a torrent of mis-selling court cases coming their way.

Absolutely. But at least they won't be selling anymore 'investments'

PasturesNew

It's another VI out of the marketplace publishing upbeat articles and press releases, keeping their sheeple pumped up and bragging.

Their members will now start to analyse their 'investments' properly. Really look at what they bought, where ... and what the true value and opportunity is.

We'll start to see them here over the weekend, asking for help/advice.

jamescredmond

Generali wrote: »

Administration can just be a way of closing a company down in an orderly way. As the article says, it is unclear how much profit was due to intercompany flows between their various companies and the holding company - if I was putting a company into administration and it had a subsidiary in a low tax place (like IT do with their company based in the Isle of Man) I know where I'd be looking for the money to end up.

I agree that poverty couldn't happen to a nicer bunch of shysters. It hasn't happened in this case I suspect.

that's as I read it and it's a reasonable guess that the directors' swag is safe.

I was merely pointing out that, by ceasing to trade, this outfit won't be misleading anyone in the market for the forseeable future.

that, if nothing else, has got to be good news.

baby_boomer

Commentators are usually criticised for being off the pace [think of the April 208 BofE criticism about bank pay schemes which encouraged risk taking]

Here's a journalist who was after Inside Track as early as 2002.

Mail on Sunday - Richard Dyson
Buy-to-let horror is looming

Zammo

The good news just keeps on flowing.

:beer:

mr.broderick

Zammo wrote: »

The good news just keeps on flowing.

:beer:

Going to buck the trend sir, carolt's ban has expired