I wonder now if it will be referred and taken by the serious fraud office so that matters can be taken further and find out where all the money was hidden away.
And, once again, the audit company - IMAFLORA, in this case - responsible for issuing a completely undeserved FSC certificate, and thus being partly responsible for misleading investors into thinking this was a legitimate company, gets away scot-free. Not even a rap on the knuckles from the FSC. IMAFLORA has issued 560 other FSC certificates currently listed as 'valid'. How many of these are also frauds?
Why is a separate agency issuing FSC certificates and not FSC itself, and why a rap from FSC rather than from the Insolvency Service, to make IMAFLORA responsible for investor's losses?
we have contact Action Fraud and response was no line of enquiring i went back with the following
"I have received an e mail response advising that you cannot identify a line of enquiry. I have names and address of 400 people all of which have been taken by the same scam which I can share. I have information that shows that multi banks where used to receive funds from investors. People have been taken for various amount with the top 50 being taken for circa £4.5M of the Circa £10M total and none have received their original investment back even though in many cases the investment term had ended. This information I can supply which I am sure must supply a lead when combined with the false information used to mislead people that their investments where secure".
and got back the following
"Thank you for your message outlining your concerns. Your report was sent for assessment to the NFIB. Their systems assess reports of fraud and internet crime from across the UK, helping build a national picture of where fraud and internet crime is taking place. Experts review the data from these reports to decide whether there is enough information to send to a police force for investigation. As you may already be aware, the NFIB have said your report did not meet the criteria to pass on to a police force for investigation at this time. Unfortunately, we will be unable to provide you with further information concerning the decision made due to the sensitive nature of police work which we hope you will be able to appreciate. Additionally, the NFIB receive in the region of 50,000 reports per month, and therefore it is imperative to implement a strict assessment review criteria. There are multiple facets within a review assessment, and therefore, even if some viable lines of enquiries are identified, there can be multiple reasons as to why a report may still not reach the relevant threshold to be reviewed and forwarded to a police force or law enforcement agency. However, if you are still not satisfied with the service you have received from Action Fraud and the NFIB, and would like to raise a complaint with our host, the City of London Police, through their Professional Standards Directorate, please see; https://www.cityoflondon.police.uk/fo/feedback/complaints/complaints/, alternatively, you can raise a complaint with the Independent Office for Police Conduct"
So they are not prepared or able to follow up the issue so Guy and his associates have got away with the money and will not even face a legal case even though the Insolvency department consider they acted in an illegal way.
So can you give some angle how we might be able to push the issue since this result just encourages more and more of these type of scams to be run with the knowledge all they will face is being banded for a number of years being a director.
Horrible. In the late 1990's I invested app. €50.000 in teakwood in Brazil's Mato Grosso.
At first there was even a Dutch ex-minister in the board so it seemed trustworthy!
A total of about €225.000.000 was invested by the Dutch.
There would be two small harvests and a final harvest. The proceeds would go to the economical owners but a certain maintanance fee would be withheld. Right. The proceeds of two small harvests went completely to maintanance. First part of the scam. Meanwhile I was paying tax to the Dutch government over the estimated value of all the teak of which I had the economic ownership.
Second part of the scam, and that came after the board was replaced by rats, my wood was about worthless they said and sold for very little to a company in east Asia. That company was run by a member of the new board. And then the wood was sold for a price four times over to a firm in India.
But the story gets even worse as many of the planted Teaktrees didn't grow; planted soil that was to dry, or infertile. I invested in 5 half hectares. So from the 25.000 square meters I only recieved €3600 once for one 'good' half hectare! Former estimated value was €9000.
People, planet and profit that was the seducing motto.
And this was not the only Goodwood/Amazon Teak Foundation/Floresteca SA - type company that abused the trust of the investors in the late '90's. Millions were made over the heads of the investors.
I joined a group that wanted another board of the teakinvestment company but to my astonishment the president of the group switched to the teakinvestment company. Probabely he was bribed. We as a group with legal support tried to get the Dutch governmental organization ACM to intervene to no avail. We started a legal battle in Brazil and had the judge on our side but then he was swept aside and a new judge decided in favor of ... the teakinvestment company. Probabely bribed also.
So finely we have no way to retrive our investments. I guess we all were naive to invest in such.
Fortunatly it's already years ago that I listed the teak as part of my ownings to the Dutch taxcollector as it sadly has no value anymore though I formally still own about 20.000 square meters of teakwoodplantation.
any chance you can give me details of the person that reported the matter and had the sense not to invest as wondering now things could be moving there could be some come back on the response they rceived
Sorry Peter, I can't give you their contact details - that would be a breach of their privacy.
You could write to the FCA and Action Fraud about this to ask about the latest situation. The more people that do so the more likely it is that they'll take some action.
I wonder now if it will be referred and taken by the serious fraud office so that matters can be taken further and find out where all the money was hidden away.
And, once again, the audit company - IMAFLORA, in this case - responsible for issuing a completely undeserved FSC certificate, and thus being partly responsible for misleading investors into thinking this was a legitimate company, gets away scot-free. Not even a rap on the knuckles from the FSC. IMAFLORA has issued 560 other FSC certificates currently listed as 'valid'. How many of these are also frauds?
Why is a separate agency issuing FSC certificates and not FSC itself, and why a rap from FSC rather than from the Insolvency Service, to make IMAFLORA responsible for investor's losses?
Hi Chris
we have contact Action Fraud and response was no line of enquiring i went back with the following
"I have received an e mail response advising that you cannot identify a line of enquiry. I have names and address of 400 people all of which have been taken by the same scam which I can share. I have information that shows that multi banks where used to receive funds from investors. People have been taken for various amount with the top 50 being taken for circa £4.5M of the Circa £10M total and none have received their original investment back even though in many cases the investment term had ended. This information I can supply which I am sure must supply a lead when combined with the false information used to mislead people that their investments where secure".
and got back the following
"Thank you for your message outlining your concerns. Your report was sent for assessment to the NFIB. Their systems assess reports of fraud and internet crime from across the UK, helping build a national picture of where fraud and internet crime is taking place. Experts review the data from these reports to decide whether there is enough information to send to a police force for investigation. As you may already be aware, the NFIB have said your report did not meet the criteria to pass on to a police force for investigation at this time. Unfortunately, we will be unable to provide you with further information concerning the decision made due to the sensitive nature of police work which we hope you will be able to appreciate. Additionally, the NFIB receive in the region of 50,000 reports per month, and therefore it is imperative to implement a strict assessment review criteria. There are multiple facets within a review assessment, and therefore, even if some viable lines of enquiries are identified, there can be multiple reasons as to why a report may still not reach the relevant threshold to be reviewed and forwarded to a police force or law enforcement agency. However, if you are still not satisfied with the service you have received from Action Fraud and the NFIB, and would like to raise a complaint with our host, the City of London Police, through their Professional Standards Directorate, please see; https://www.cityoflondon.police.uk/fo/feedback/complaints/complaints/, alternatively, you can raise a complaint with the Independent Office for Police Conduct"
So they are not prepared or able to follow up the issue so Guy and his associates have got away with the money and will not even face a legal case even though the Insolvency department consider they acted in an illegal way.
So can you give some angle how we might be able to push the issue since this result just encourages more and more of these type of scams to be run with the knowledge all they will face is being banded for a number of years being a director.
Horrible. In the late 1990's I invested app. €50.000 in teakwood in Brazil's Mato Grosso.
At first there was even a Dutch ex-minister in the board so it seemed trustworthy!
A total of about €225.000.000 was invested by the Dutch.
There would be two small harvests and a final harvest. The proceeds would go to the economical owners but a certain maintanance fee would be withheld. Right. The proceeds of two small harvests went completely to maintanance. First part of the scam. Meanwhile I was paying tax to the Dutch government over the estimated value of all the teak of which I had the economic ownership.
Second part of the scam, and that came after the board was replaced by rats, my wood was about worthless they said and sold for very little to a company in east Asia. That company was run by a member of the new board. And then the wood was sold for a price four times over to a firm in India.
But the story gets even worse as many of the planted Teaktrees didn't grow; planted soil that was to dry, or infertile. I invested in 5 half hectares. So from the 25.000 square meters I only recieved €3600 once for one 'good' half hectare! Former estimated value was €9000.
People, planet and profit that was the seducing motto.
And this was not the only Goodwood/Amazon Teak Foundation/Floresteca SA - type company that abused the trust of the investors in the late '90's. Millions were made over the heads of the investors.
I joined a group that wanted another board of the teakinvestment company but to my astonishment the president of the group switched to the teakinvestment company. Probabely he was bribed. We as a group with legal support tried to get the Dutch governmental organization ACM to intervene to no avail. We started a legal battle in Brazil and had the judge on our side but then he was swept aside and a new judge decided in favor of ... the teakinvestment company. Probabely bribed also.
So finely we have no way to retrive our investments. I guess we all were naive to invest in such.
Fortunatly it's already years ago that I listed the teak as part of my ownings to the Dutch taxcollector as it sadly has no value anymore though I formally still own about 20.000 square meters of teakwoodplantation.
Chris
any chance you can give me details of the person that reported the matter and had the sense not to invest as wondering now things could be moving there could be some come back on the response they rceived
Sorry Peter, I can't give you their contact details - that would be a breach of their privacy.
You could write to the FCA and Action Fraud about this to ask about the latest situation. The more people that do so the more likely it is that they'll take some action.
Great that REDD-Monitor escaped nasty SLAPP lawfare.