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Jo C.
Jo C., Barrister
Category: Law
Satisfied Customers: 30929
Experience:  Over 5 years in practice
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I am being encouraged by a firm called Electio Capital to invest

Customer Question

I am being encouraged by a firm called Electio Capital to invest in Graphene. Is this a scam?
Submitted: 2 years ago.
Category: Law
Expert:  Ben Jones replied 2 years ago.

Ben Jones :

Hello, my name is XXXXX XXXXX it is my pleasure to assist you with your question today.

Ben Jones :

Do you have any details on that company, such as website?

JACUSTOMER-bhziikc7- :

www.electiocapital.com but it tells me very little

Ben Jones :

What exactly have they asked you to do so far?

JACUSTOMER-bhziikc7- :

They have asked me to invest in a physical quantity of graphene at a cost of £5,850 and said they will e-mail me documents which I am to sign and return with my cheque

Ben Jones :

ok let me see what I can find out

JACUSTOMER-bhziikc7- :

I have spoken to two people at Electio Capital named XXXXX XXXXX and Jack Parish

Ben Jones :

The website itself was created in August 2012. Its owner has decided to hide their details from public view, which is unusual if the business was legitimate and they have nothing to hide.


 


They do mention they are a limited company called Electio Capital Management Ltd and checking Companies House there is such a company registered there, which is currently active. However, anyone can open a company and that does not provide any further reassurance.


 


When it comes to the investment in question, there have been plenty of scams in that area and other similar investment areas. The company itself is not registered with the FCA so cannot provide regulated financial advice. As such using them for investments in a market where even they mention on their site you should seek the advice of an IFA first, is not advisable.


 


They have been known for cold-calling potential investors in the past and offering investments in such things like movies. For example some interesting information on this can be found here:


 


http://whocallsme.com/Phone-Number.aspx/02071836317


 


The last comment on the page concerns them.


 


Whilst only the people running the company know whether it is a scam or not, I can tell you that if you invest that money and something goes wrong, you have very little protection in getting any of it back. This is not a regulated business and you are paying by cheque. You get no fraud or other protection that way. If anything, try to pay by credit card so that you do get some protection if this turns out to be non-legitimate but with the current payment method you are exposing yourself to as lot of potential trouble.

JACUSTOMER-bhziikc7- :

Thanks, XXXXX XXXXX know all of that already.

Ben Jones :

I can only work with information available in the public domain - if what I found you already know then there is not much else I can add I'm afraid, there is simply nowhere for me to pluck that information from

JACUSTOMER-bhziikc7- :

OK I understand, but I'm afarid that is not worth £40

Ben Jones :

ok I can arrange a refund if you want

JACUSTOMER-bhziikc7- :

Yes please

Ben Jones :

ok will do

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