High court shuts property investment
European Property Management Ltd based in Merseyside has been wound up by the high court.
The firm was found guilty of misleading investors over the benefits of investing, to induce them to purchase shares
The company was formed to secure and manage residential properties in European Capitals of Culture as they were announced.
Cold calling was used to attract potential investors and it is believed that up to 10 other companies may have been used. None of these businesses were authorised by the Financial Services Authority. They also made exaggerated and misleading claims about the benefits of investing in this way.
The Insolvency Service’s investigation also led to the winding-up in the High Court, of Corporate Business Angel Ltd, which was based in the Derby area.
The companies’ methods raised a total of £853,395 from private investors in the UK. From the sums raised, the company paid out commissions of £529,945 to the unauthorised entities, which amounted to 65% of funds raised, and as a consequence less than 30% of shareholders’ funds were used for purposes set out in the Company’s Information Memorandum.
Everyone should be wary of get rich quick schemes and the old adage applies: if it seems too good to be true, then it probably is.
European Property Management Ltd based in Merseyside has been wound up by the high court.
The firm was found guilty of misleading investors over the benefits of investing, to induce them to purchase shares.
The company was formed to secure and manage residential properties in European Capitals of Culture as they were announced.
Cold calling was used to attract potential investors and it is believed that up to 10 other companies may have been used. None of these businesses were authorised by the Financial Services Authority. They also made exaggerated and misleading claims about the benefits of investing in this way.
The Insolvency Service’s investigation also led to the winding-up in the High Court, of Corporate Business Angel Ltd, which was based in the Derby area.
The companies’ methods raised a total of £853,395 from private investors in the UK. From the sums raised, the company paid out commissions of £529,945 to the unauthorised entities, which amounted to 65% of funds raised, and as a consequence less than 30% of shareholders’ funds were used for purposes set out in the Company’s Information Memorandum.
Everyone should be wary of get rich quick schemes and the old adage applies: if it seems too good to be true, then it probably is.
Tags: mis sold mortgage, mortgage mis selling, property investment
This entry was posted
on Monday, June 14th, 2010 at 12:17 pm and is filed under Mortgage Brokers Fined.
You can follow any responses to this entry through the RSS 2.0 feed.
You can leave a response, or trackback from your own site.
prozac breast feeding…
Buydrugs without prescription…
low dose haldol and paxil…
Buygeneric drugs…
Pyrantel@Pamoate.now” rel=”nofollow”>..…
Buygeneric pills…
Tylenol@Tylenol.Tylenol” rel=”nofollow”>……
Buygeneric meds…
Topamax@Topamax.Topamax” rel=”nofollow”>.…
Buyit now…
Synthroid@Synthroid.Synthroid” rel=”nofollow”>.…
Buynow it…
Tri@Cyclen.now” rel=”nofollow”>……
Buyno prescription…
Soma@Soma.Soma” rel=”nofollow”>.…
Buyno prescription…
Pulmicort@Pulmicort.Pulmicort” rel=”nofollow”>..…
Buydrugs without prescription…
Purim@Purim.Purim” rel=”nofollow”>……
Buygeneric drugs…
Singulair@Singulair.Singulair” rel=”nofollow”>……
Buygeneric pills…
Prozac@Prozac.Prozac” rel=”nofollow”>.…
Buygeneric pills…
Cozaar@Cozaar.Cozaar” rel=”nofollow”>.…
Buynow it…
Prozac@Prozac.Prozac” rel=”nofollow”>.…
Buygeneric drugs…
Singulair@Singulair.Singulair” rel=”nofollow”>.…
Buygeneric drugs…
coral@calcium.ultra” rel=”nofollow”>……
Buygeneric drugs…
buy@human.growth.hormone.product” rel=”nofollow”>……
Buygeneric drugs…
early@childhood.purim.crafts” rel=”nofollow”>.…
Buygeneric drugs…
……
Buywithout prescription…
allegra@print.colorado.springs” rel=”nofollow”>……
Buygeneric drugs…
.…
Buynow…
.…
Buywithout prescription…
rhinocort@vs.beconase” rel=”nofollow”>.…
Buyno prescription…
.…
Buyno prescription…
advair@side.effects” rel=”nofollow”>.…
Buyit now…
.…
Buyno prescription…
can@you.take.vicodin.with.prednisolone” rel=”nofollow”>.…
Buynow…
effexor@drug.interaction” rel=”nofollow”>.…
Buygeneric pills…
alternatives@to.premarin” rel=”nofollow”>……
Buygeneric pills…
long@term.prilosec.use” rel=”nofollow”>.…
Buygeneric drugs…
is@prometrium.and.blood.clots” rel=”nofollow”>..…
Buywithout prescription…
cutting@proscar.tablets” rel=”nofollow”>.…
Buygeneric pills…
altace@generic.name” rel=”nofollow”>.…
Buynow it…
buy@online.amoxicillin” rel=”nofollow”>.…
Buywithout prescription…
neurontin@dyskinesia.tardive.dystonia” rel=”nofollow”>.…
Buygeneric drugs…
how@well.does.nexium.cure.barretts.esophagus” rel=”nofollow”>.…
Buygeneric drugs…
changing@from.paxil.to.paxil.cr” rel=”nofollow”>.…
Buyno prescription…
abilify@and.olanzapine” rel=”nofollow”>.…
Buyit now…
plan@b.skateboards.at.target” rel=”nofollow”>.…
Buywithout prescription…
side@effects.of.dog.medication.famotidine.and.flagyl” rel=”nofollow”>……
Buygeneric drugs…
pediatric@dosage.of.prednisolone” rel=”nofollow”>……
Buyno prescription…
flexeril@gain.weight” rel=”nofollow”>.…
Buygeneric drugs…
……
Buygeneric drugs…