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Something of interest to Imperial Consolidated victims
Internal Administrator
Posted: Friday, August 12, 2011
Joined: 10/12/2010
Posts: 5779


Posted: 4/8/2003 11:20:10 AM

By: David Marchant

A story was published in the Financial Times today with the headline: "Police are ignoring costly fraud cases, says SFO head".

The first sentence reads: "Fraud crimes potentially involving millions of pounds are going uninvestigated because of a chronic lack of police resources, the outgoing head of the Serious Fraud Office has revealed."

You can read this story in its entirety free of charge by going to http://news.ft.com/servlet/ContentServer?pagename=FT.com/StoryFT/FullStory&c=StoryFT&cid=1048313550518.

It emphasises the importance of avoiding becoming a victim of investment fraud because, once you're in, the chances of you receiving any satisfaction, either money-wise or prosecution-of-culprits-wise, are not high.

David Marchant


Anonymous
Posted: Friday, August 12, 2011

Posted: 4/10/2003 10:26:38 AM

By: David Marchant

All of the above emphasizes the importance of doing due diligence to reduce your chances of becoming a victim of investment fraud because, once you have sent your money off to a crook, your chances of recovering much or anything are slim.

David Marchant


Anonymous
Posted: Friday, August 12, 2011

Posted: 4/10/2003 6:45:45 AM

By: Sniffer Dog

See the Administrator's website - latest statement now up for viewing!


Anonymous
Posted: Friday, August 12, 2011

Posted: 4/10/2003 2:37:45 AM

By: paul

Incidentally Giro Bank which the UK Government use for the Inland Revenue handled 100m US dollars of Imperial Funds and had difficulty in providing sensible and credible audit trails of fund movement!The whole thing stinks of incompetence and lack of compliance,infact cheques were made out in one name that when traced were paid to another name its a national disgrace in the UK banking world and the more consumers know how little banks care about their money the better protected we will all be .Iam waiting to hear the outcome of the SFO investigations which at least in this case is being funded.


Anonymous
Posted: Friday, August 12, 2011

Posted: 4/10/2003 2:28:19 AM

By: paul

David Iam in agreement with you the problem is it does not appear that enough funds would be available even to finance such a litigation Mazars whom i have met are predicting around 5% recovery. The legal battle subject to recieving counsel would run into millions this is how the banks and institutions get away with it they can prolong litigation indefinetly until you give up exhausted.You know some investors have raised funds to begin litigation against one party but the administrator is not prepared to assist we are on our own.I urge all investors to visit our web site David and provide as much support as possible.


Anonymous
Posted: Friday, August 12, 2011

Posted: 4/9/2003 12:34:47 PM

By: David Marchant

Re. "I believe even Mazars are now predicting that they will recover nothing for the victims through the administration process."

I'm not aware of Mazars Neville indicating this and I wold be very surprised if the said something along those lines.

In my opinion, there is an above average chance of Imperial victims receiving financial satisfaction because of the involvement of well-known companies who allowed themselves to become involved in what was a crude fraud.

While it will be difficult to track down the ill-gotten gains of crooks like Lincoln Fraser, Jared Brook and Bill Godley, the class of company referred to above are sitting targets for lawsuits.

Given the fact that OffshoreAlert exposed Imperial long before it collapsed, it is difficult for these companies to argue that they were not negligent in doing business with the group.

Rabobank Nederland is one of the biggest banks in the world and could write a check for the entire losses suffered by victims if ordered to do so by a court of law.

David Marchant


Anonymous
Posted: Friday, August 12, 2011

Posted: 4/9/2003 12:23:05 PM

By: Debbie

What is your opinion now David on Imperials victims' chances of recovering any monies through the courts ?
I believe even Mazars are now predicting that they will recover nothing for the victims through the administration process.


 

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