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  • FIRST POST
    • kencharlton
    • By kencharlton 29th Mar 18, 10:50 AM
    • 7Posts
    • 2Thanks
    kencharlton
    Store First Petition
    • #1
    • 29th Mar 18, 10:50 AM
    Store First Petition 29th Mar 18 at 10:50 AM
    Doe anyone have information on Store first and why the government are trying to wind them up , please?


    kind regards ken
    Last edited by kencharlton; 29-03-2018 at 11:00 AM. Reason: remove data
Page 1
    • dunstonh
    • By dunstonh 29th Mar 18, 11:08 AM
    • 97,597 Posts
    • 65,726 Thanks
    dunstonh
    • #2
    • 29th Mar 18, 11:08 AM
    • #2
    • 29th Mar 18, 11:08 AM
    It was effectively a scam.
    I am an Independent Financial Adviser (IFA). Comments are for discussion purposes only. They are not financial advice. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
    • kencharlton
    • By kencharlton 29th Mar 18, 11:31 AM
    • 7 Posts
    • 2 Thanks
    kencharlton
    • #3
    • 29th Mar 18, 11:31 AM
    • #3
    • 29th Mar 18, 11:31 AM
    very useful thank you
    • dunstonh
    • By dunstonh 29th Mar 18, 11:50 AM
    • 97,597 Posts
    • 65,726 Thanks
    dunstonh
    • #4
    • 29th Mar 18, 11:50 AM
    • #4
    • 29th Mar 18, 11:50 AM
    There are some old threads on this site you may wish to look at. We were saying for years that it was a scam. Like most scams, the authorities are slower to react. However, even before it was recognised as a scam, it was discussed in this forum that it was a very high-risk unregulated investment that could be a scam.

    This thread started in 2012:
    http://forums.moneysavingexpert.com/showthread.php?t=3866319
    I am an Independent Financial Adviser (IFA). Comments are for discussion purposes only. They are not financial advice. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
    • kencharlton
    • By kencharlton 29th Mar 18, 12:11 PM
    • 7 Posts
    • 2 Thanks
    kencharlton
    • #5
    • 29th Mar 18, 12:11 PM
    • #5
    • 29th Mar 18, 12:11 PM
    I do have store pods which do exist and I have made some returns on them being rented out , so not really a scam.
    They just do not provide the returns you are expecting . Plus up until the GOV stuck the Petition on them I was about to get my investment back , or so they said . Now I have no chance .
    • dunstonh
    • By dunstonh 29th Mar 18, 12:28 PM
    • 97,597 Posts
    • 65,726 Thanks
    dunstonh
    • #6
    • 29th Mar 18, 12:28 PM
    • #6
    • 29th Mar 18, 12:28 PM
    I do have store pods which do exist and I have made some returns on them being rented out , so not really a scam.
    Getting some returns before the thing collapses does not mean it avoids being called a scam.

    There was a general feeling early on that they were using money being invested to pay the money out rather than the income from the storage.

    They just do not provide the returns you are expecting
    Which is a scam when they guaranteed to pay a certain amount and dont do it. It is also a scam when they do not return the money for those pulling out. It is also a scam when the breach regulatory rules on pension transfers.
    lus up until the GOV stuck the Petition on them I was about to get my investment back , or so they said . Now I have no chance .
    People weren't getting their money back long before the authorities got involved. Excuse after excuse given. Yours is just another one.
    I am an Independent Financial Adviser (IFA). Comments are for discussion purposes only. They are not financial advice. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
    • marlot
    • By marlot 1st Apr 18, 9:36 AM
    • 3,806 Posts
    • 2,930 Thanks
    marlot
    • #7
    • 1st Apr 18, 9:36 AM
    • #7
    • 1st Apr 18, 9:36 AM
    https://www.telegraph.co.uk/tax/news/investors-top-gear-presenters-notorious-storage-pod-scheme-face/?li_source=LI&li_medium=li-recommendation-widget
    • redpete
    • By redpete 1st Apr 18, 10:48 AM
    • 4,334 Posts
    • 3,842 Thanks
    redpete
    • #8
    • 1st Apr 18, 10:48 AM
    • #8
    • 1st Apr 18, 10:48 AM
    Plus up until the GOV stuck the Petition on them I was about to get my investment back , or so they said .
    Originally posted by kencharlton
    'they' being Store First presumably, the ones who didn't provide returns that they promised, the ones who failed to honour commitments about paying up to many people.
    Now I have no chance .
    Not sure you ever had a realistic chance.
    Last edited by redpete; 01-04-2018 at 10:59 AM.
    loose does not rhyme with choose but lose does and is the word you meant to write.
    • PeacefulWaters
    • By PeacefulWaters 1st Apr 18, 11:18 AM
    • 8,318 Posts
    • 10,683 Thanks
    PeacefulWaters
    • #9
    • 1st Apr 18, 11:18 AM
    • #9
    • 1st Apr 18, 11:18 AM
    Plus up until the GOV stuck the Petition on them I was about to get my investment back , or so they said . Now I have no chance .
    Originally posted by kencharlton
    Don't delude yourself. You never had any chance.
    • Malthusian
    • By Malthusian 1st Apr 18, 6:26 PM
    • 5,433 Posts
    • 8,992 Thanks
    Malthusian
    You were never going to get your investment back. 100% was lost the moment you handed it over.

    This is Classic Scam Excuse no. 1. Whenever a scam collapses the scammers invariably:

    1. Blame the government - "If the government hadn't shut us down everything would have been fine"
    2. Blame the media - "If the media hadn't printed lies about us we would have been able to refinance and everything would have been fine" ("refinance" in this case = "find new investors to pay the old ones with")
    3. Blame the victims - "If the investors hadn't been greedy and tried to take their money out everything would have been fine"

    All of this is, of course, BS. The only people to blame for the collapse of a failed investment are a) those who orchestrated a supposed investment where there was no external revenue source to meet payouts b) those who took out more than they put in, which in a scheme with no external revenue inevitably means they are stealing other investors' money. A) and B) are of course the same people.

    Who fed you the line that it was anything to do with the winding up petition, which is nothing more than the Government sweeping up the debris?
    • molerat
    • By molerat 1st Apr 18, 6:37 PM
    • 20,409 Posts
    • 14,704 Thanks
    molerat
    And now the taxman may come after you as well !
    https://www.helpforheroes.org.uk/give-support/donate-now/
    • kencharlton
    • By kencharlton 15th May 18, 11:41 AM
    • 7 Posts
    • 2 Thanks
    kencharlton
    Looks like I must play dirty LOL
    • K F Day
    • By K F Day 9th Oct 18, 10:23 AM
    • 4 Posts
    • 0 Thanks
    K F Day
    Concerned pod owners
    Hello there
    This has been a great source of turmoil to someone very close to myself. Not only have they invested their life savings and after the initial 8% for two years, received nothing but have also been taken for £10,000 by a company claiming to be able to sell their pods on for them.

    I have set up an action group on Facebook in the hope of sharing experiences, news, information and anything else relevant. Please do join. You can find it by typing in 'Store First Pod Owners Action Group' . The impact this has had on pod owners is devastating and it's hard to find any info regarding this. You are not alone and we need to stand together. It's a closed group so anything on the page is private. There's not much on there currently but I will be adding links to anything relevant and hope pod owners will join and add their own experiences.

    Thank you
    • kencharlton
    • By kencharlton 5th Feb 19, 4:43 PM
    • 7 Posts
    • 2 Thanks
    kencharlton
    cant find page
    Hi I cant find your page to join the website . I have a few Ideas to bring them down but is that the way to progress. ken
    • K F Day
    • By K F Day 12th Feb 19, 7:21 AM
    • 4 Posts
    • 0 Thanks
    K F Day
    Facebook page
    Hi
    I changed the privacy of the Facebook group to secret to protect members so it can't be found at present but I will change it back next week(I have had to wait 28 days before changing the privacy again as per Facebook restrictions) but I do plan on it being accessible to all and have implemented some new procedures upon joining to verify members are genuine. The confidentiality of our members is important. I'll post up once I've managed to change the group privacy status so you know to search. We would be very interested to hear from you, although I do think the court case in April will see their demise. Not to mention the serious fraud office investigation.
    • kencharlton
    • By kencharlton 12th Feb 19, 10:21 AM
    • 7 Posts
    • 2 Thanks
    kencharlton
    mm not good news , I have a no win no fee company chasing them at the minute .

    Look forward to your post with the new FB site
    • kencharlton
    • By kencharlton 12th Feb 19, 10:38 AM
    • 7 Posts
    • 2 Thanks
    kencharlton
    I was wondering can Monesavingexpert not help us with a petition to the government or somewhere to try to take the money from more profitable parts of the Global business , they make millions .
    • dunstonh
    • By dunstonh 12th Feb 19, 10:59 AM
    • 97,597 Posts
    • 65,726 Thanks
    dunstonh
    I was wondering can Monesavingexpert not help us with a petition to the government or somewhere to try to take the money from more profitable parts of the Global business , they make millions .
    Originally posted by kencharlton
    And why should others pay for your bad investment choices?

    Yes, I sympathise with your losses but going off the mainstream into quirky, niche and unusual options with no regulatory protections was a choice that you made. So, why should others who did not get greedy and throw common sense out of the window have to pay for your bad decisions?
    I am an Independent Financial Adviser (IFA). Comments are for discussion purposes only. They are not financial advice. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
    • Malthusian
    • By Malthusian 12th Feb 19, 11:13 AM
    • 5,433 Posts
    • 8,992 Thanks
    Malthusian
    I was wondering can Monesavingexpert not help us with a petition to the government or somewhere to try to take the money from more profitable parts of the Global business , they make millions .
    Originally posted by kencharlton
    What global business? The only millions Store First's parent company makes are millions in massive losses - check the accounts of Group First Global Limited. Notwithstanding the millions of investors' money put into Store First and Park First with no return.

    There is no "global business" - Group First consists of Store First, Park First (same scheme but with car parks), Business First (a tiny serviced office company in the North East, no investment attached that I'm aware of) and a bunch of shell companies. All operate in the North East of England or Scotland. The only global aspect is that a number of investors in Asia were somehow persuaded to invest.
    • Flechler
    • By Flechler 11th Mar 19, 8:13 PM
    • 2 Posts
    • 0 Thanks
    Flechler
    Anyone contacted by an ‘escrow’?
    My parents lost money on the Store First scheme and were compensated by the government. In the last week they have been contacted by an alleged escrow company in Dubai who says an anonymous buyer wants to give them almost 100k for the land.

    It seems pretty obviously a scam but wanted to know if anyone else had this experience?
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