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Ash
Ash, Solicitor
Category: Law
Satisfied Customers: 10915
Experience:  Solicitor with 5+ years experience
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I very foolishly invested with a boilerrron scam group of crininals

Customer Question

I very foolishly invested with a boilerrron scam group of crininals ove the internet.
I have lost £71,000 at the moment.
The companThe cold calls came from a company called Demmore Ltd, not to be confused with companies of a similar name, which claims to be based in Hatton Garden in London. It offered big profits through leasing gold to corporate clients.

Investigative journalist Vahl has been reporting on fraud for a decade, so when the call came, she recognised it immediately.

She secretly recorded her conversations and arranged to meet a company salesman.

"It is really a thriving market. It outperforms most bank-based investments and underperforming stocks and shares," he told our reporter.

"I can guarantee you 15% returns in 60 days."

Completely fake
The company is believed to have made similar boasts to hundreds of people.y Demmore Ltd
Submitted: 2 years ago.
Category: Law
Expert:  Ash replied 2 years ago.

Alex Watts :

Hello my name is Alex and I will help you with this. Please note that I am a working Solicitor and may be on and offline as I have to attend Court and meet with clients, even at weekends. As such you may not get an instant response when you reply as this is not an ‘on demand’ live service, but rest assured I will be giving your question my immediate attention upon return. There is no need to wait here, you will get an email when I reply.

Alex Watts :

How did you pay and have you reported this to the Police please?

Customer :

Paid by bank transer to diferent Demmore bank accounts, reported to Actio Fraud and city of London Police who say that unlikely to recover funds.

Customer :

If you look on their website they lease gold contracts and fake of worthless share certificates are signed and look like a lawful contract.

Customer :

Demmore is a limited company so all directors are listed.

Alex Watts :

Its bad news I am afraid

Alex Watts :

If you have reported it to the Police that is sadly all you can do at this stage.

Alex Watts :

They will investigate this and prosecute where appropriate.

Alex Watts :

It seems that you are not the only person who has lost money

Alex Watts :

Please see:

Alex Watts :

http://www.bbc.co.uk/news/business-24837166

Alex Watts :

http://www.telegraph.co.uk/finance/personalfinance/investing/gold/10441740/Boiler-room-fraudsters-turn-to-gold.html

Alex Watts :

You could issue proceedings. But it will cost you easily £15,000 to see this through to trial

Alex Watts :

I am sorry if this is not the answer you want and certainly not the one I want to give you, but I have a duty to be honest

Alex Watts :

Can I clarify anything for you about this today please?

Customer :

The fraud police say that these people would rather go to jail than pay back the money.

Customer :

Could I ask other who have been cheated and do it a block.

Customer :

How long will it take please.

Alex Watts :

It could take if you go to Court around 6-12 months.

Alex Watts :

If it was prosecuted then it may also take that long, but it would be a free process

Customer :

The person on the contract is James Wilkinson as Director is this the person to take to court

Alex Watts :

No, you can only take the person you paid which I assume is the Company

Alex Watts :

I am sorry

Customer :

When you say issue prooceedings what do yo mean

Alex Watts :

In the County Court.

Alex Watts :

But that will cost if contested up to £15,000 and there is no guarantee the money is still there

Customer :

Is there anything can be done against The Director of the company who signed the contract.

Alex Watts :

Sadly not unless there is a criminal conviction against him

Customer :

The money was paid into different bank accounts at least twenty five in totalm over the UK which were emptied

Alex Watts :

Yes sadly it is a complicated fraud and it is the Police who need to take action

Alex Watts :

Once there are criminal convictions things can be taken further

Customer :

I would suspect there is and if Mr J Wilkinson has a criminal conviction he can be liable is that correct.

Alex Watts :

Potentially yes.

Customer :

Alex Watts I will try and find out about Jamie Wilikinson and his criminal report

Alex Watts :

OK - but you need that to take legal proceedings.

Customer :

I will get back to you in due course

Alex Watts :

But even then you would have to take it against the Company and ask that the corporate veil be lifted.

Alex Watts :

Can I clarify anything else for you?

Alex Watts :

If this answers your question could I invite you leave feedback on my service which I hope has been excellent today, if you need more information or help then please click reply.

Please remember that I am always happy to help if you have future questions, even if I am in Court I can normally respond within a few hours. For future information, please start them with ‘For Alex W’.

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