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Ash
Ash, Solicitor
Category: Property Law
Satisfied Customers: 10915
Experience:  Solicitor with 5+ years experience
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I once bought land from a UK company claiming to sell land

Resolved Question:

I once bought land from a UK company claiming to sell land in Brazil. They were a registered UK company and had an office in the Gherkin. Unfortunately, it turned out to be a total scam. I am now thinking about buying US property from a UK company. They are a registered UK company, they advertise many property listings on reputable websites. I really need to make sure they are definitely not a scam because if I invest with them, it'll be almost all of my life savings. I need a 100% definite, clear answer.
Global Investments Incorporated based in Manchester, business number: 08462386. Please help, many thanks.
Submitted: 1 year ago.
Category: Property Law
Expert:  Ash replied 1 year ago.
Alex Watts :

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

Alex Watts :

Sadly there is no database to see if they are a scam or not.

Alex Watts :

What you can do is check with Companies House to see if they are a valid company.

Alex Watts :

They are. Their registered office is:

Alex Watts :

GLOBAL INVESTMENTS INCORPORATED LIMITED
c/o C/O FREEDMAN FRANKL & TAYLOR
REEDHAM HOUSE
31 KING STREET WEST
MANCHESTER
M3 2PJ

Alex Watts :

However their address is c/o of accountants.

Alex Watts :

This would personally concern me.

Customer:

May I ask why?

Alex Watts :

Because usually one would have a proper address of where they trade.

Customer:

what question should i ask them in this regard, please?

Alex Watts :

Why they use an accountant as a registered office.

Alex Watts :

They also file Micro accounts which means their turnover is quite small

Alex Watts :

In order to qualify as a Micro business

Alex Watts :

A company meets the qualifying conditions for a micro-entity if it meets at least two out of three of the following thresholds:



  • Turnover: Not more than £632,000

  • Balance sheet total: Not more than £316,000

  • Average number of employees: Not more than 10


- See more at: http://www.icaew.com/en/technical/financial-reporting/other-reporting-issues/companies-act/micro-entity-accounts-exemptions#sthash.YvA79vjA.dpuf

Alex Watts :

Therefore if they are claiming to sell property one would expect a higher turnover a larger balance sheet

Alex Watts :

Therefore sadly I think based on what you have said, I would be personally unwilling to invest.

Alex Watts :

They do not seem to have a very high turnover or assets for a company that is advertising US properties

Customer:

i'm copying and pasting this one sec please

Alex Watts :

Dont worry - when you rate the format changes so you can print off our chat

Customer:

i have one other company for u to check please

Alex Watts :

Ok

Customer:

would be most grateful if u can confirm these

Alex Watts :

But remember I can't do background checks.

Customer:

pcg invest.co.uk

Customer:

they seem legit might be wrong though

Alex Watts :

I can only tell you what is publically available.

Customer:

ok

Customer:

PCG Invest also registered they are registered with AIPP which is an ethics-based organization

Customer:

a registered uk company too

Customer:

what do you think about them, please?

Alex Watts :

PCG - has been going for less than 2 years, have changed registered office 7 times.

Alex Watts :

Their share capital is £100

Alex Watts :

I personally would not use them either

Customer:

ok, are there any UK companies that sell US property one can trust?

Customer:

could you check gascoignes international please

Customer:

another UK selling US property

Alex Watts :

They have been going since 2002

Customer:

ok

Alex Watts :

But like the others all small businesses

Alex Watts :

You might want to call Trading Standards and ask them if they have received any complaints.

Customer:

i see, the only thing is i've checked us prices and rental yields and these companies are offering similar deals....

Customer:

i appreciate more than anyone the need to be cautious but in your considered view it would be best tostay clear of all three?

Alex Watts :

Ok, I can't give investment advice, I can only say what is publically available.

Alex Watts :

Personally yes I would avoid, but it is a matter for you.

Customer:

I see. I could put all of this information to the companies concerned and see their response.

Alex Watts :

Of course.

Alex Watts :

Can I clarify anything for you about this today please?

Alex Watts :

They may have good explanations of course.

Customer:

The text of this conversation will be sent to my email address?

Alex Watts :

Once you rate the format changes so you can print it off or save it

Customer:

You've stated info which is publically accessible. who could i hire to check if a company is a fraud, where do i go to get such a service in 'real life'?

Alex Watts :

Trading Standards can tell you if there have been any complaints.

Alex Watts :

That would be the best bet.

Customer:

Ok...........

Customer:

lastly...........

Alex Watts :

Yes?

Customer:

to clarify, you can highlight publically accessible info which may or may not indicate dodgy dealings.............

Customer:

but you cannot authoritatively say whether a company is a fraud or for real...........

Alex Watts :

Correct.

Customer:

u can state whether or not they have a decent record, in accordance with public info

Customer:

correct?

Alex Watts :

Yes

Customer:

Ok..............

Customer:

i just want to say without being cheesy...........

Alex Watts :

Sure

Customer:

this service is fantastic and u r fantastic........

Customer:

i'm sure u r helping people out alot

Customer:

many thanks for your help

Alex Watts :

Thanks. We do try on here

Alex Watts :

Thank you.

Customer:

i really appreciate it

Alex Watts :

If this does answer your question can I ask you to rate my answer before you go today, the button should be at the bottom of the screen

Alex Watts :

If you need more help please click reply

Customer:

Cheerio, I will rate your answer, have a good day.

Alex Watts :

Thank you and you

Ash, Solicitor
Category: Property Law
Satisfied Customers: 10915
Experience: Solicitor with 5+ years experience
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