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Ash
Ash, Solicitor
Category: Law
Satisfied Customers: 10916
Experience:  Solicitor with 5+ years experience
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I have been investing money with a Diamond Broker named Fanrong

Resolved Question:

I have been investing money with a Diamond Broker named Fanrong International Ltd and I have just heard that they have just been dissolved Where do I stand with my investments.
Submitted: 2 years ago.
Category: Law
Expert:  Ash replied 2 years ago.
Alex Watts :

Hello my name is ***** ***** I will help you with this.

Alex Watts :

I have checked with Companies House and they were dissolved on 1st July 2014

Alex Watts :

This means all money in the Company has been lost

Alex Watts :

What you should do is write to the Directors at the registered address which is:

Alex Watts :

FANRONG INTERNATIONAL LIMITED
88-90 HATTON GARDEN
HOLBORN
LONDON
UNITED KINGDOM
EC1N 8PN

Alex Watts :

If the Company has creditors and is trading they should not have dissolved it

Alex Watts :

You should also write to Companies House to also point this out

Alex Watts :

This is a breach of the law. But in reality you are likely to have lost the money

Alex Watts :

Any money in their bank account will be forfeit to the Crown - this is done automatically

Alex Watts :

So if there is money in the account it goes to the Government

Alex Watts :

I am sorry if this is not necessarily 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:

As I understand then, they bought and sold diamonds on my behalf; this was prior to 1st July, and because I have received no monies yet they will be lost. And there is nothing in reality that I can do about it?

Customer:

Are you still on line?

Alex Watts :

Yes I am still here

Alex Watts :

Sadly apart from complaining to Companies House or Trading Standards

Alex Watts :

I am sorry

Customer:

OK, thanks for being honest.

Ash, Solicitor
Category: Law
Satisfied Customers: 10916
Experience: Solicitor with 5+ years experience
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