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Jo C.
Jo C., Barrister
Category: Law
Satisfied Customers: 69369
Experience:  Over 5 years in practice
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I have been a victim of Graphene fraud...The company,

Customer Question

Hi,
I have been a victim of Graphene fraud...The company, 'Graphene Trade' where I invested also went into Administration without any prior warning. Later I was contacted by another company NanoHolding Europe who claimed that they have been passed on responsibility to liquidate the investment by putting up the Graphene holding on sale. They also asked for money for the advertisement of the material and for putting it up for sale.
I have had no resolution and I feel I have been duped into the entire process of this fraud. Is there a way I can take legal action and claim compensation from these fellows?
Submitted: 1 year ago.
Category: Law
Expert:  Jo C. replied 1 year ago.
Hi.
Thank you for your question. My name is ***** ***** I will try to help with this.
Do you know if they are UK based?
Customer: replied 1 year ago.
Yes, Graphene Trade was UK based
Customer: replied 1 year ago.
This was their address
Graphene Trade Ltd is a limited company registered in England and Wales
Registered number: 08411484
Registered office: 8-12 New Bridge Street, London, EC4V 6AL
Expert:  Jo C. replied 1 year ago.
Yes, but I meant the people who are contacting you now?
Customer: replied 1 year ago.
Yes, the people who contacted me in March about liquidation were also UK based and acting on behalf of Nano Tech Holding Consortuim Inc...This is what I received on the 19th of MarchDear Mr PaulI understand that you were a client of Graphene Trade Ltd. We have been approached by Mr J Brenner of B&C Associates Limited, an insolvency practitioner appointed as Liquidator of Graphene Trade Ltd after the Company ceased trading. We may be custodian of your graphene materials, along with Soildo, which are held in bond in accordance with your graphene purchase.We would like to ascertain what you would like to do with your holdings of graphene materials and have set out the following "2" options that are currently available to you :-Remove and Return.
On your request we can make arrangements to send the graphene materials you purchased through Graphene Trade Limited to you at your address. In the process of release you may be liable for VAT when removing the materials from storage. There is currently a outstanding storage cost equal to £54.00 due, this is calculated from January 31st to March 31st 2015 and represents the time Graphene Trade Limited has ceased trading You will be responsible for all courier and postal charges which can be advised on request.Please note you are responsible for the handling of the graphene materials and graphene is flagged as potentially hazardous that may cause acute health problems if not handled in a sterile environment.
SELL on your behalf.
We can attempt to sell your materials back into the open market through avenues open to us. We cannot offer any warranty as to the final price achieved, however current indicative prices in the retail market range from approx $10 per gram as an example.All sale bids received will be emailed to you stating the "price and quantity" for your instruction of sale. An administrational fee equal to £57.00 per month to manage the sale and advertise will be charged, no sales commissions are charged.During the process of sale a storage fee equal to £29.00 per month shall be due from April 1st 2015. Upon any agreed sale we will secure payment on your behalf and ship to buyer, the buyer shall be charged all shipping costs. All sale proceeds, less any storage costs due til date of shipping, will be forwarded to you by cheque or for a charge equal to £25.00 by direct payment to your nominated bank.It is important that you reply within 14 days of the date of this email. If you do not reply to this letter we shall assume that you do not want the materials to be retained in storage and these shall be removed and sold to prevent further storage costs and cover outstanding storage costs.Yours sincerely
Nano Tech Holdings Consortium Inc ***@******.***
Customer: replied 1 year ago.
During the time of investment, there was no clause that asked me to bear cost towards upkeep of the material. So, this came to me as absolute surprise when I was later approached by Nano Holdings asking me for extra money towards upkeep and promotion of material
Expert:  Jo C. replied 1 year ago.
Thanks.
That isn't fraud. That is just a request for money. The request may be one that is well founded or not. Sometimes business do ask for things that are not what they would get in court. That doesn't make it fraud.
Similarly, I don't know what the evidence is against the original company for fraud? Going under whilst trading does not mean they acted fraudulently per se.
You can, of course, make a report to the police although I suspect that would be their response.
You can also try to sue the individuals behind the original company on the basis that they acted fraudulently and so you should be allowed to pierce the corporate veil. You will have to show fraud though rather that merely unfortunate outcome of their trading.
Can I clarify anything for you?
Jo
Customer: replied 1 year ago.
Since my investment is stuck and none of the promises (i.e to get me a bidf or liquidation of investment) were met so far, and considering that the original company Graphen Trade have also ceased to exist, what legal steps can I take to sue Nano Holdings Tech? Does it bring further complexity and challenge if the organisation I take legal action is outside of the UK?
Expert:  Jo C. replied 1 year ago.
If they are not in the UK it is prohibitively expensive.
If they are then there is no point in claiming against the company as they are defunct.
You could Sue the individuals but the test is a high one.

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