http://www.bulgariabtl.com/?lang=ENGLISH
Anil kohli on right 
Simon also 
Mr mrs allso 2 cardinal mews vestry close andover hampshire SP103FY
tim mannion 
younger tim mannion below!?
21 gruge heath lane fareham hampshire PO15 5AB
Born in Southampton, Hampshire, UK.
I am married to Dawn, who is a Professional Kickboxing Instructor, with two sons Dan (25) and Richard (23) both serving in the Royal Navy and both Physical Training Instructors.
I attended school in Southampton, UK, before graduating from Smithfield College London.
Having been offered a position within an International Hotel and Leisure Chain, away I went!!
Over the next twenty five years I have enjoyed working in Australia, USA, Bali, Philippines, Spain and the UK, working with four different companies mostly on the hotel management and agency services departments, training staff in customer care, sales / marketing, property and availability management.
My main qualification, I think, is that I have attended “the University of life” and when I am old enough I want to teach there!!
I enjoy Squash, Tennis, and Reading, Walking the dogs and entertaining at home.
below krassimmmer kostov
If you have been affected by this company or invested in the opportunity please send an email to davidknightbblt@yahoo.co.uk any info would be useful Others involved are Tim Mannion ( UK Agent) Krassysimmir Kostov (CEO) 003592/9695181 (see below for pictures) The deal explained; basically the 100% finance offer attracts investors, usually people with not much money as the initial investment in only £5000 five thousand pounds. Three thousand two hundred of this money sets up a company that will borrow the money to buy the house they claim they will build within approx 1 year. At the time of writing you have to have a company to own the land the house sits on as a foreigner in Bulgaria. One thousand two hundred of this money is supposed to be returned in to your bank account after the company is set up. This doesn’t happen! The idea is that you are then placed in an ‘allocation queue’ . Usually 300 people waiting to be allocated their lovely new detached house. When you reach the end of the que you will be allocated a property and you will obtain 70 % loan from the bank and 30% loan from the developer. The bank will value the property and this will be the purchase price. The fraud has been running for 3 years now and not one site has comenced work Not one investor has received back £1800 after stting up a company Anil kohli the organizer of the scam has been involved in other scams. Please look at the following articles, they involve complicated scams stet up with many different companies, in many different countries. In the article below you can see Simon Also has also been jailed for fraud. They have scamed millions. It’s amazing what you find when you type a name in to Google!
http://home.att.net/~fcwriter/news10.htm
http://www.investdrinks.org/heros.htm
http://www.investdrinks.org/directory.htm
http://home.att.net/~fcwriter/features6.htm#ocean0904
http://www.investdrinks.org/herosarchive.htm
Simon also has been involved in other suspicious activities. And has been imprisoned for fraud! If you can’t see here you can check below
http://www.bikebiz.co.uk/infozone/article.php?id=981
http://home.att.net/~fcwriter/news10.htm
http://www.investdrinks.org/heros.htm
http://www.investdrinks.org/directory.htm
http://home.att.net/~fcwriter/features6.htm#ocean0904
http://www.investdrinks.org/herosarchive.htm
Simon also has been involved in other suspicious activities. And has been imprisoned for fraud! If you can’t see here you can check below
http://www.bikebiz.co.uk/infozone/article.php?id=981
Latest News 3/3/2009
Latest news provided by the News Distribution Services.Please use the search to locate specific information. back to list
Thursday 25 October 2007 17:47 Insolvency Service (National)BuyBulgaria limited in Hampshire closed down by High Court
A company who promoted the sale of yet to be built buy to let houses in Bulgaria has been closed down by the High Court following an investigation by the Companies Investigation Branch of the Insolvency Service.
BuyBulgaria Limited ("BuyBulgaria") acted as the main UK agent for a Bulgarian property development company, Bulgaria BTL OOD ("BTL").
BuyBulgaria, operating from its trading premises in Fareham, Hampshire, started to promote the sale of proposed property developments in late 2005 on behalf of BTL. BuyBulgaria developed a sub-agent network, including overseas property sales agents to make direct sales to clients across the UK and Ireland. Clients paid a £5,000 joining fee in order to gain access to the proposed development scheme, in order for BTL to incorporate a company on behalf of the client in Bulgaria, in accordance with requirements for non Bulgarian citizens to undertake property purchase transactions, and to allow the client to join an allocation queue for yet to be built properties offered for sale by Bulgaria BTL.
BTL used a BuyBulgaria bank account to collect in its £5,000 fees from UK and Irish clients. In the 16 month period November 2005 to March 2007 BuyBulgaria had recorded over 350 sales, and banked over £1.6 million. By March 2007 no properties had been built for any known UK and Irish clients who had agreed to purchase homes in Bulgaria. BuyBulgaria acted as banker for BTL transferring money to a BTL bank account in Bulgaria.
NOTES TO EDITORS 1. The registered office of Blenheim is at 21 Gudge Heath Lane, Fareham, Hampshire, PO15 5AB.
2. The petition to wind up the company in the public interest was presented on 9 July 2007 under the provisions of Section 124A of the Insolvency Act 1986 following an investigation conducted under Section 447 and 453A of the Companies Act 1985 by Companies Investigation Branch of the Insolvency Service. The petition was heard on 10 October 2007, at which time the company was wound up.
3. The Insolvency Service carries out confidential enquiries on behalf of the Secretary of State for Business, Enterprise and Regulatory Reform through Companies Investigation Branch.
4. The Insolvency Service administers the insolvency regime, investigating all compulsory liquidations and individual insolvencies (bankruptcies) through the Official Receiver to establish why they become insolvent. The Service also authorises and regulates the insolvency profession; deals with disqualification of directors in corporate failures; assesses and pays statutory entitlement to redundancy payments when an employer cannot or will not pay employees; provides banking and investment services for bankruptcy and liquidation estate funds; and advises ministers and other government departments on insolvency law and practice.
5. All public enquiries concerning the affairs of the company should be made: The Official Receiver, Public Interest Unit, 21 Bloomsbury Street, London, WC1B 3SS. Public Enquiries: 0207 637 1110
6. Further information about the work of The Insolvency Service is available from http://www.insolvency.gov.uk
Client ref Ins/Coms/32
GNN ref 153329P
Thursday 25 October 2007 17:47 Insolvency Service (National)BuyBulgaria limited in Hampshire closed down by High Court
A company who promoted the sale of yet to be built buy to let houses in Bulgaria has been closed down by the High Court following an investigation by the Companies Investigation Branch of the Insolvency Service.
BuyBulgaria Limited ("BuyBulgaria") acted as the main UK agent for a Bulgarian property development company, Bulgaria BTL OOD ("BTL").
BuyBulgaria, operating from its trading premises in Fareham, Hampshire, started to promote the sale of proposed property developments in late 2005 on behalf of BTL. BuyBulgaria developed a sub-agent network, including overseas property sales agents to make direct sales to clients across the UK and Ireland. Clients paid a £5,000 joining fee in order to gain access to the proposed development scheme, in order for BTL to incorporate a company on behalf of the client in Bulgaria, in accordance with requirements for non Bulgarian citizens to undertake property purchase transactions, and to allow the client to join an allocation queue for yet to be built properties offered for sale by Bulgaria BTL.
BTL used a BuyBulgaria bank account to collect in its £5,000 fees from UK and Irish clients. In the 16 month period November 2005 to March 2007 BuyBulgaria had recorded over 350 sales, and banked over £1.6 million. By March 2007 no properties had been built for any known UK and Irish clients who had agreed to purchase homes in Bulgaria. BuyBulgaria acted as banker for BTL transferring money to a BTL bank account in Bulgaria.
NOTES TO EDITORS 1. The registered office of Blenheim is at 21 Gudge Heath Lane, Fareham, Hampshire, PO15 5AB.
2. The petition to wind up the company in the public interest was presented on 9 July 2007 under the provisions of Section 124A of the Insolvency Act 1986 following an investigation conducted under Section 447 and 453A of the Companies Act 1985 by Companies Investigation Branch of the Insolvency Service. The petition was heard on 10 October 2007, at which time the company was wound up.
3. The Insolvency Service carries out confidential enquiries on behalf of the Secretary of State for Business, Enterprise and Regulatory Reform through Companies Investigation Branch.
4. The Insolvency Service administers the insolvency regime, investigating all compulsory liquidations and individual insolvencies (bankruptcies) through the Official Receiver to establish why they become insolvent. The Service also authorises and regulates the insolvency profession; deals with disqualification of directors in corporate failures; assesses and pays statutory entitlement to redundancy payments when an employer cannot or will not pay employees; provides banking and investment services for bankruptcy and liquidation estate funds; and advises ministers and other government departments on insolvency law and practice.
5. All public enquiries concerning the affairs of the company should be made: The Official Receiver, Public Interest Unit, 21 Bloomsbury Street, London, WC1B 3SS. Public Enquiries: 0207 637 1110
6. Further information about the work of The Insolvency Service is available from http://www.insolvency.gov.uk
Client ref Ins/Coms/32
GNN ref 153329P
Daily mail article;
He served time for fraud. He is barred as a director for the maximum 15 years. He has twice been declared bankrupt. And now Simon Allso has teamed up with another colourful character, Anil Kohli, who is serving a 12-year ban from corporate life.
Allso is the man who pulled the strings that plunged the historic bicycle company Sturmey Archer to its knees. He has wrecked a succession of family owned companies and his debts comfortably exceed £100,000. He is now working with Kohli on a housing investment project in Vladaja, Bulgaria, coining fees of £5,000 a time from hundreds of British investors.
He has told Financial Mail his latest venture is 'substantial and legitimate'. His UK sales agent says: 'If this was fraudulent, it would have come out after 18 or 19 months.'
But so far there is virtually nothing to show for the 200 or more investors who have paid money to Bulgaria Buy To Let (BBTL) - a business whose shareholders are Kohli and Allso's wife, Ingrid.
Since Allso hit financial trouble as a younger man, he has been accustomed to using family members to front his projects. Son-in-law Mark Sillence was, for example, the only named director of one company that in
2002 attempted to wrest control of struggling firms by wooing their directors at family lunches in a palatial 5,000 square foot villa in Cyprus with a bogus stamp of legality provided by phoney offices in a prestige block in Limassol.
Kohli, struck off as a director for 12 years until 2009, has been linked with a controversial wine investment programme aimed at wealthy Americans and run by a succession of companies ending with Ocean-Seed.
Their latest buy-to-let scheme has already pulled in more than £1m. Sign up for the chance to pay between 100,000 and 250,000 euros
(£68,000-170,000) for a property and it will, gush the ebullient sellers, come with a 100% no-questions-asked mortgage, funded from their own pockets, plus - if not a guarantee - then a very strong promise of a top-flight corporate let.
{2}
Tim Mannion, who runs BBTL's main UK agency from Fareham, Hampshire, claims there has been interest from the likes of accountancy group PricewaterhouseCoopers, Sony Ericsson and parcel giant TNT. The suggestion is that this type of organisation will provide the 'guaranteed 10% a year return' that BBTL is offering.
As far as Financial Mail can establish, none of these companies has a relationship with BBTL and Allso says only that the first year's rental is guaranteed. Since the launch of the venture in 2005 and while investors have their £5,000 at risk, no houses have been built.
Though Mannion admits the plan for at least 600 properties to be built last year was blown off course by 'planning problems', he insists 400 will be finished this year and about half will be sold to locals.
{3}
Speaking for the first time to Financial Mail, Allso said that building work on the first property started last Thursday and that he was running a 'lawful, successful business' in Bulgaria.
He claimed it was always known that clients would wait 12 months before being allocated a property and that though construction was four months behind schedule, the allocation programme was running only one month adrift and he hoped the schedule would soon catch up.
Despite those who have contacted Financial Mail with concerns, Allso
said: 'There are no client complaints outstanding.' Financial Mail knows several who put money up and are trying to get it back. Allso admitted that five out of 207 clients had cancelled and said that defamatory allegations against the business by a customer and his mother had been withdrawn and BBTL's legal costs paid.
Whether Allso's latest venture is more successful than his others, he is breaching UK regulations. He spends at least a week every month in the Bulgarian capital Sofia, working for BBTL. Though he is not a named director, if his involvement was significant enough for him to be regarded as a 'shadow director' that would breach UK rules. His trustee in bankruptcy, Mike Kienlan, had not been notified officially of any income Allso might receive from the venture, which should offset debts of more than £100,000 at the time of his latest bankruptcy.
{1}
Despite their records, Allso and Kohli may be trying to go straight with a new venture suffering teething problems in a new EU accession state. The business is riding an investment boom - Bulgaria is to buy-to-let and holiday properties what the Costa del Sol was a decade ago.
However, their scheme is unauthorised. Part of the £5,000 upfront fee is theoretically refundable, but some who tried to pull out are facing menace.
Mannion argues Allso has paid his debt to society and should be given a chance, but while £5,000 is not do-or-die for most people, some of those lining up to buy properties have handed over several lots of £5,000.
Remarkably, though Financial Mail has covered Allso's business tactics over several years and Kohli's entrepreneurial efforts are well-documented on the internet, investors still fail to check the provenance of the schemes they decide to support.
_______________
Lisa Buckingham
Editor
Financial Mail on Sunday
Telephone 020 7938 6878
Fax 020 7795 6437
The WebCHeck service is available from Monday to Saturday 7.00am to 12 Midnight UK Time
Name & Registered Office:BUYBULGARIA LIMITED21, GUDGE HEATH LANEFAREHAMHAMPSHIREPO15 5ABCompany No. 05571100
Status: Active Date of Incorporation: 22/09/2005Country of Origin: United Kingdom
Company Type: Private Limited CompanyNature of Business (SIC(03)):None Supplied
Accounting Reference Date: 30/09Last Accounts Made Up To: (NO ACCOUNTS FILED)Next Accounts Due: 22/07/2007Last Return Made Up To: Next Return Due: 20/10/2006
Previous Names:
No previous name information has been recorded over the last 20 years.
Branch Details
There are no branches associated with this company.
Oversea Company Info
There are no Oversea Details associated with this company.
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Order information on this company
Below isInfo on Simon Also:
How Sturmey-Archer went East Derby International took control of Raleigh and Sturmey-Archer in 1987. In 1998 Derby Cycles Limited, then a UK-based company, became sole owner of Sturmey-Archer Limited. At this time about 40% of Sturmey-Archer's turnover came from its Engineering Component Department, which made sintered and cold forged components for the automotive and domestic appliance manufacturers. These were produced at the Triumph Road factory in the Radford district of Nottingham, opposite Raleigh's main factory and headquarters. Hub gears, hub brakes, spokes and nipples were also made at Triumph Road by the Cycle Component Department. A much smaller factory at Smethwick, Birmingham made Brooks leather saddles. By the late 1990s, about 85% of Sturmey-Archer's bicycle component production was exported, three quarters to countries on the European mainland. The biggest market was The Netherlands where there was a separate Derby-controlled sales and distribution company, Sturmey-Archer BV. In Europe, Sturmey-Archer had about 10% of the hub gear market, well below the market leader SRAM (owner of Sachs) and second-placed Shimano. Sturmey-Archer's turnover dropped steadily from £18m in 1996 to only £12m in 1999. Pre-tax profit in 1996 was £2.4m (13% of turnover), whereas in 1999 a loss was recorded of £0.3m. The rise in the value of the pound sterling against the Euro currencies had pushed Sturmey-Archer into the red. Derby's options After Sturmey-Archer made a pre-tax loss of £408,000 in 1998, Derby appointed Colin Bateman as managing director of Sturmey-Archer. He took up the post in March 1999, with a brief to assess the ongoing viability of Sturmey-Archer. Eight months later, Bateman reported to the directors of Derby that, in view of the 1998 losses and projected 1999 losses of £1.1m, he saw three alternatives:
· Invest £3.75m immediately,
· Consider the viability of ongoing trading, or
· Sell the land and/or business.
Derby opted for selling. Colin Bateman and Sturmey-Archer's financial director and company secretary, Paul Smith, investigated the options. On 17th December 1999, Sturmey-Archer agreed to sell its site at Triumph Road, Nottingham to Nottingham University for £3.75m. The site was then leased back to Sturmey-Archer for a year to permit relocation of the factory. Nottingham University wanted the site for the £20m National College for School Leadership. Relocation and the search for a new owner Bateman and Smith promptly started a search for separate sites to relocate the Engineering Component and Cycle Component Departments. They also commissioned Manro Consultants to advice on optimizing Sturmey-Archer's profitability. They discussed further outsourcing of manufacturing processes, involving buying in components from Taiwan, with estimated cost savings of 30% and a consequent reduction of about 100 in the workforce. The estimated cost of relocation, excluding the real estate costs, was £4m. This included £1.5m to move the Cycle Component Department, about £0.7m to move the Engineering Components Department and £1.5m for workforce redundancies. Derby considered these costs to be too high. They therefore commissioned a firm of corporate financial advisers, Oasis Europe Limited, to seek potential buyers who would continue manufacture in Nottingham. Meanwhile, a possible management buy-out of the Engineering Components Department was mooted. Most potential buyers merely wanted to 'cherry-pick' certain parts of Sturmey-Archer, especially the name and/or patents. Sturmey-Archer was developing an eight-speed hub, which was of particular interest. Sun Race of Taiwan made a serious offer to buy Sturmey-Archer which would have left some jobs in Nottingham. Their offer was, however, contingent on Sturmey-Archer achieving forecasted sales figures and could not therefore be finalized quickly. Derby, however, were under great pressure from their American investors to reduce debt and the Chase Manhattan Bank required a quarterly progress report. Sale to Lanark One company put forward by Oasis, Lanark Limited, was prepared quickly to buy the whole business as a going concern, complete with all existing and contingent liabilities. The price Lanark offered was lower than that proposed by Sun Race but was more acceptable to Derby because it got rid of debt by the end of the second quarter of 2000, when their American investors had to report to their bankers. Lanark, formed in 1998 and registered at 33a High Street, Heath field, East Sussex, appeared to Derby to be a sound investment firm. It ran four divisions containing about 17 companies. Consequently, on 24th June 2000, Derby sold Lanark The Wright Saddle Company Limited for a nominal sum, believed to be £30. This was slightly less than the retail price of a basic Sturmey-Archer three-speed hub gear. The Wright Saddle Company was a dormant subsidiary of Sturmey-Archer, incorporated in the 1937 and wholly owned by the hub-gear maker. Six days later, on 30th June 2000, Derby transferred the assets and liabilities of Sturmey-Archer into The Wright Saddle Company and its name was changed to Sturmey-Archer Limited. Simultaneously, the former Sturmey-Archer Limited became Derby Cycle Corporation Limited, apparently on the advice of Derby's tax specialists. This was a normal and legal tax avoidance move and should not be construed otherwise. About the same time, and with little or no publicity, Derby Nederland’s sold the profitable European sales and distribution operation Sturmey-Archer Europe BV, based in Amsterdam, to the now Lanark-owned Sturmey-Archer Limited. The sale price was 3m Dutch guilders (about £0.8m) and was in the form of a loan from Derby to Lanark. The directors of Sturmey-Archer Europe BV, which had about seven staff, were Colin Bateman and Paul Smith, the MD and finance director/company secretary of Sturmey-Archer Limited. The deals seemed to benefit everybody. Sturmey-Archer's managing director Colin Bateman said, "For the first time in a long while there is room to invest in production, marketing and product development." Lanark and relocation By this time the financial backers of the suggested Engineering Component Department management buyout had withdrawn. However, they had already found a new factory site and left a completed relocation plan. Lanark’s business adviser, Simon Also, who fronted negotiations for Lanark throughout, suggested therefore that Lanark should also take over the Engineering Component Department. Lanark’s directors assured Colin Bateman and Paul Smith that they would fund the relocation. On 1st July 2000, two non-executive directors were appointed to the Sturmey-Archer board but with little day-to-day involvement. In both July and August, Sturmey-Archer paid its new parent company, Lanark, £60,000 in management fees. Sturmey-Archer also paid £52,000 to another Lanark Group company, Hanson Limited. According to the liquidator's report, Simon Also persuaded Mary Warring, one of the new non-executive executors to authorize this payment, advising her that Sturmey-Archer directors Bateman and Smith had approved it. They had not and were not even aware of the transaction. It later emerged that Simon Also, a former bankrupt, had previously been involved in a large number of business failures in southern England and had been imprisoned for fraud. By mid-August, all the directors of Sturmey-Archer were starting to have concerns about the relocation, as Lanark had yet to provide any funds for this purpose. Negotiations were under way for freehold premises to recourse the Cycle component Department at Calverton, near Nottingham and there was also the site that the failed management buy-out had targeted for relocating the Engineering Components Department. In anticipation of the relocations, which needed to be complete by the end of 2000, stock levels had been increased and additional shifts worked. Lanark proposed that they buy the Calverton site and sublet it to their subsidiary Sturmey-Archer. But at the same time, Lanark wanted Sturmey-Archer to provide them with the purchase money! The proposed agreement between the two companies was never formalized. The financial situation worsens Pinch came to shove when a 10% deposit of £75,000 was needed for the Calverton site. Sturmey-Archer, having recently paid other parts of the Lanark Group £172,000, did not have the money and was expecting Lanark to provide the funding - one of the reasons Sturmey-Archer was sold by Derby so cheaply. Lanark, however, made it clear that they would not be providing the funds. Meanwhile, the landlords of the proposed relocation site for the Engineering Components Department were not happy with Lanark’s financial status and therefore refused to sell. As the situation looked bleaker and bleaker, the board of Sturmey-Archer held an urgent unscheduled meeting with Lanark on 11th September 2000. Lanark were represented solely by Clive Walton, who held a fifth of the shares in Lanark. He stated that he supported the directors of Sturmey-Archer and left the meeting ostensibly to enlist the support of the other Lanark directors. It is reported that some people at the meeting thought Walton had merely left the room for a cigarette break. In reality, he left the building and with effect from that date, resigned his directorship of Lanark. Closure The Sturmey-Archer board were now concerned as to their company's ability to continue trading. They therefore called in insolvency practitioners Smith and Williamson. These advised that, lacking the substantial funding needed to relocate, Sturmey-Archer could not avoid insolvent liquidation. Thus, on Friday 15th September, the first day of the annual IFMA cycle show in Cologne, Sturmey-Archer staff manning the company's stand heard of the insolvency. Closure of the Nottingham plant was announced to its 260 staff the same day. The Independent newspaper reported a long serving employee saying, "The whole workforce is devastated. It is terrible. I have worked here for 42 years and couldn't believe it when we were called into this meeting and told our jobs had gone. The firm says it could no longer afford to pay our wages and asked us all to leave the premises immediately." The same paper quoted Sturmey-Archer 's managing director, Colin Bateman: "This is a sad day for bicycle manufacturing in Nottingham, not to mention for all the staff that work here. We feel very let down. It is a devastating blow." For a time, 28 volunteers stayed on in the factory working on final assembly and packaging. Education and Employment Secretary David Blunkett, responding to an approach from Nottingham South MP Alan Simpson, offered to provide practical and financial help to the company. The East Midlands Development Agency considered buying the new site for Sturmey-Archer and renting it back to them. Sadly these offers did not come it time to prevent Sturmey-Archer's liquidation. Trade Secretary Stephen Byers promised to investigate the circumstances of the closure but at the time of writing (December 2001) does not appear to have published anything. On 22nd September 2000, Derby issued the following press release: Sturmey-Archer In connection with our sale of Sturmey-Archer to Lenark in June of this year there has been much rumour and public comment generated. We share this disappointment and would like to share what we know. We decided to seek a buyer for the business as it did not fit our strategic focus on the manufacture and distribution of bicycles and accessories. It was essential for the viability of the business that a buyer be found without delay who was willing to invest in the patented innovation which Sturmey-Archer had prototyped and to relocate to a new site: the best offer was made by Lenark. In carrying out due diligence on the capability of Lenark to make a success of Sturmey-Archer, evidence was produced showing that they appeared to have more than sufficient resources to undertake the plans the management of Sturmey-Archer had initiated to make a success of the business. We were just as surprised and concerned as anyone that it now appears that Lenark is unable to fund Sturmey-Archer, and this has forced it to enter into insolvency proceedings: we are both a customer and creditor and will suffer from their insolvency along with others in the same position. We understand that an insolvency practitioner has been appointed by the management of Sturmey-Archer to advise them through this period until a meeting of creditors next month determines the future of the business: we sincerely hope that a buyer for the business can be found. We are very distressed that so many Sturmey-Archer employees who served loyally for many years under our ownership of the business will lose their jobs if a buyer cannot be found. One of the few newspapers to report the crisis at Sturmey-Archer in any detail was The Mail on Sunday. On 24th September its reporter Lisa Buckingham revealed that two other firms owned by Sussex-based Lenark had just gone into liquidation and that a further four were days away from the same fate. Gary Matthews, chief executive of Derby, protested to The Mail on Sunday his surprise that Sturmey-Archer was facing ruin: "We understood Lenark to be a robust investment firm. They were represented by top-flight counsel." Matthews also claimed that Derby carried out "the appropriate due diligence" to ensure Lenark were up to the mark. However, as the newspaper reported, the Department of Trade and Industry (DTI) revealed that Simon Allso was declared bankrupt in 1992 and had been linked with at least eight insolvencies. Lenark director Barry Robinson was reportedly a professional gambler based in Las Vegas. The Mail cited the Experian credit rating firm, which described Lenark's financial position as weak, with current assets of just £48,000 at the end of the year to May 1999 and liabilities of £600,000. Creditors' meeting On Monday 2nd October, creditors of Sturmey-Archer arrived in Birmingham for a meeting of about 50 people which was expected to place the company in liquidation. Jeremy Lewis and James Stack, on the This is Nottingham website, reported the events in graphic detail. Attendees discovered that control of Sturmey-Archer had changed. Lenark had sacked the management team just two hours before the meeting. The new directors, Barry Robinson and his associate Alan Brigham, wanted to avoid liquidation and instead intended applying for an administration order in the High Court the following Friday. The meeting was therefore redefined as an informal meeting of creditors rather than a formal creditors' meeting. The meeting started without Barry Robinson, who arrived ten minutes late. Delegates demanded the freezing of Sturmey-Archer's bank account with Barclays at Walton-on-Thames, from which a further £25,000 had recently been taken by Lenark making a total taken of some £192,000. They also succeeded in getting Lenark to reconsider the application for an administration order, arguing that without a substantial injection of cash, it would be pointless so late in the day. Freshly-sacked former managing director Colin Bateman argued that placing the company in administration would be a disaster: it would delay redundancy payments to the workers by many months, and it would lose the company customers who would go elsewhere. The meeting was heated. At one stage, a departing Sturmey-Archer manager, Alan Ettles, asked Barry Robinson, "What has changed to make you believe it is worth investing in? Have you come for a bit more of the cake? The crumbs that are left? What are you after?" Robinson replied, "We are trying to save Sturmey-Archer. ... We want to save as many jobs as possible." Nottingham South MP Alan Simpson asked why Lenark had not approached the DTI or the Department for Education and employment for assistance with the relocation to Calverton. He also asked for the financial guarantee that Lenark gave to Derby to be published. Derby's corporate controller, Simon Goddard, reiterated the company's stance that it had undertaken "due diligence" via a firm of financial advisers. Gary Matthews, chief executive of Derby, had told The Mail on Sunday that Wragge and Co. did the due diligence on Lenark. But Wragge and Co. denied this at the meeting, saying it was done by Oasis Europe, the company that made the Derby-Lenark match. Oasis subsequently denied this, leaving suspicions that nobody did the due diligence, despite what may have been believed by those involved. Tony Murphy of Sturmey-Archer's insolvency practitioners Smith and Williamson, pointed out that three Lenark companies were in liquidation, another in receivership and a fifth might well go into liquidation following a creditors' meeting in a week's time. Derby had insolvency practitioners at the meeting, partly because Lenark still owed them about £0.8m for the purchase of Sturmey-Archer Europa BV. Hence, Derby too was keen for immediate liquidation. Also present was George Hu of Sun Race USA, wearing a black shirt emblazoned with his company name. Plainly his company still wanted Sturmey-Archer. New Sturmey-Archer MD Barry Robinson was given fifteen minutes by the meeting to consider his options. This he did and announced, through Tony Murphy of Sturmey-Archer's insolvency practitioners Smith and Williamson, that the bank account would be frozen and that Lenark would underwrite the cost of investigating the benefits of putting the company into liquidation. David Stott, an engineering manager with Sturmey-Archer, successfully demanded that the meeting not be allowed to break up until it had been confirmed that the bank account was frozen. Liquidation By the end of the week, Barry Robinson, having twice visited the Nottingham factory, had decided that there was no way a rescue could be arranged using Sturmey plant as collateral. Therefore administration was no longer an option. Derby chief executive Gary Matthews then said that Derby might be interested in buying some of Sturmey-Archer's bicycle related divisions, but nothing came of this. So, Sturmey-Archer went into liquidation. The directors attributed its failure and the loss of some 300 jobs to the lack of financial support from Lenark. They considered that, apart from the necessity to relocate and costs associated with this, the company remained a fundamentally viable business. Assets were estimated to realise £3.7m. These included a 100% shareholding in Sturmey-Archer Europa BV, valued at £0.75m; machinery and equipment valued at £1.1m and stock worth £1m. The company had a deficit of £2.3m. The largest category of creditors was the employees. Their claims in lieu of notice and redundancy pay amounted to nearly £3.3m. In early November 2000, as liquidation of Sturmey-Archer proceeded, the management team of Brooks saddles paid the liquidators £1m and thus saved the Smethwick, Birmingham operation. Brooks exported 85% of its production to more than 180 countries and was established in Birmingham about 1870. The plant employed about 20 staff. An anonymous 'UK bike trade individual' financially supported the acquisition. The new managing director of Brooks was Gordon Nixon. He had been the Brooks factory manager and the two-day a week personnel manager for Sturmey-Archer. Auctioneers FD Savills auctioned the Sturmey-Archer factory equipment. A sale preview was held on Monday 11th December. The equipment included three Liebergeld cold-forging presses, said to be worth more than £100,000 each. The largest weighed about 1,000 tonnes. The full list of equipment is given below this article. Sun Race buy Sturmey-Archer On the day of the auction preview, 11th December 2000, the following press release was issued by Sun Race Roots Enterprise Co. of Taiwan: From the Office of The President, Sun Race Roots Enterprise Co., Ltd., is pleased to announce the following: Sun Race Roots Enterprise Co., Ltd., a public traded company on Taiwan Stock Exchange, one of the largest global manufactures of bicycle drivetrain components of 28 years, one of the key players in the bicycle industry in North and Latin Americas and Asia, has just completed a deal with Sturmey-Archer Ltd., the producer of the 98 years old Sturmey-Archer branded bicycle internal gear hubs, the "original" inventor of the internal gear hub system. The deal will give Sun Race a strong foothold into the European market. This purchase completes Sun Race as one of the three total bicycle drivetrain solutions provider in the same league next to Shimano and SRAM. Total investment on the purchase, to bring production back, and to develop new products for introduction in 2002 will be around Three and a Half Million US Dollars (USD$3,500,000.00). The North American operations will change the name from Sun Race USA to Sun Race Sturmey-Archer USA. The European operations will change the company name from Sturmey-Archer (Europa) BV to Sun Race Sturmey-Archer Europe BV. The parent company Sun Race Roots Enterprise Co., Ltd., will change the company name to Sun Race Sturmey-Archer Inc. Sun Race's China operations will be renamed as Sun Race Sturmey-Archer (WuXi) Industries. It is Sun Race Sturmey-Archer Inc.'s intention to continue with the 98 years old Sturmey-Archer Brand which has traditionally been associated with high end. With the back up of the newly added engineering, manufacturing and marketing capabilities of Sun Race, Sturmey-Archer products will continue and expand to a full Internal Gear Hub Drivetrain Group consist of Shifters, Brake Levers, Chainwheel Crank Sets, Chains, and Internal Gear Hubs with Drum and Coaster Brakes. Sun Race Sturmey-Archer Inc. will market the Derailleur Drivetrain Groups, which consist of Shifters and Brake Levers, Front and Rear Derailleurs, Chainwheel Crank Sets, Freewheels and Cassettes, Hub Sets, and Multiple Speed Chains under the Sun Race Brand. The production of Sturmey-Archer hubs and service parts will continue from Sun Race Taiwan factory. The move will make Sturmey-Archer Products much more competitive than before. Production will start January 2001 with resume shipping dates of late March, early April 2001. And for the year 2002, celebrating the Century Mark of 100 years on Sturmey-Archer, Sun Race Sturmey-Archer will introduce a very special surprise based on the patent pending technology.
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LISA BUCKINGHAM, FINANCIAL MAIL EDITOR
Another nail in the coffin of market repute
4 March 2007
The only surprise at the criminal fraud charges brought against 13 Wall Street traders last week was that the American authorities had actually investigated and decided to prosecute one of the most pervasive insider-dealing rings since the days of trader Ivan Boesky.
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As small shareholders know to their cost, despite the panoply of regulation and market scrutiny on both sides of the Atlantic, insider dealing remains rampant. It rarely manages to find its way into the courtrooms. And even when it does, convictions are notoriously difficult to secure.
The arrival of the private equity megadeal has made things, if anything, harder to control. A consortium of two or three private bidders with respective advisory entourages means keeping a prospective takeover move under wraps is about as likely as making a safe crossing of the M1 with your eyes shut.
Research by the Financial Services Authority this time last year into takeover bids in the first four years of the new millennium revealed that there was a degree of 'informed trading'-insider dealing - ahead of a stunning 29% of takeovers.
Things may have improved since then. When the FSA gives an update on its research into later years, taking into account a rather more mature enforcement regime, it will be hoping such systematic market abuse shows signs of reduction.
It is easy to look at the latest example of abuse in New York, which could be characterised as tipping off a few mates before a share recommendation was issued by a 'respected' broking house, and regard it as a victimless crime. It is estimated that the 13 netted 'only' about £8.5m between them - not enough to keep most self respecting American chief executives on the payroll for a year.
As usual, though, the victims are private shareholders. They are not on the inside. Their trust in a financial services system that has already served up mis-selling scandals and rip-offs on a monumental scale is further eroded each time such scandals are exposed.
Marks & Spencer boss Stuart Rose was last week depicted as a Gerald Ratner-style gaffe-maker for having admitted he had considered the idea of a bid for Sainsbury's.
His comments, made on the fringes of a retail conference, ran on the Bloomberg newswire for a few hours as the M&S board and its advisers frantically worked out a wording that would see off the more officious watchdogs of the Takeover Panel while appearing to leave open the possibility of bidding under practically any foreseeable circumstance. The only prospect apparently ruled out was a hostile, cash bid.
I've no doubt Rose has looked at Sainsbury's. He will be sorely tempted if a private equity bidder comes along. But possibly last week's blunder was a little more strategic than it at first appeared.
M&S's barely dampened acquisitive possibilities served to pump Sainsbury's share price higher - not as high as a mooted venture capitalist would have to pay - but certainly towards the levels at which a bid of 550p a share (the mooted price from the private equity predators) would struggle to offer much in the way of a bid premium.
Justin King is doing a very creditable job of turning round the supermarket group. There is a suspicion, however, that he might, just might, do even better if the rich rewards of private equity ownership were his for the taking.
And as the Sainsbury's middle-market customers are bang in the middle of M&S's target audience, Rose would almost certainly be happier with King simply firing on six cylinders, rather than supercharged.
Simon Allso, whose colourful career has been documented over the years by Financial Mail has once again hoved into view. Recently emerged from bankruptcy order number two and disbarred as a UK director, he has teamed up with another boardroom outlaw, Anil Kohli, to mastermind buy-to-let housing in Bulgaria.
Allso has hit the investment zeitgeist. Bulgarian property is flavour of the month for those with a few hundred thousand euros to spend. Blue-chip companies will want to rent properties for their employees and there may well be a strong aftermarket for sales to local people.
It seems remarkable, however, that two men who misbehaved badly enough to prompt action from the notoriously somnambulant Department of Trade and Industry can persuade people to hand over £5,000 on trust for the (possible) chance to buy a house for up to 250,000 euros.
At least Allso and Kohli got caught and their record is there to see for anyone with sufficient intelligence. But as ICC Credit - a leading credit reference agency - said following our story of cutbacks in the Insolvency Service, the future could mean that 500 rogue directors a year escape scot-free. And the people they try to persuade to invest will have no record to search.
Other stories: M&S considers £10bn Sainsbury bid Tax win for M&S could hit state coffers
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AmandalawProperty SalesJoined: Aug 17, 2006Posts: 112Location: Devon
Posted: Mon Mar 05, 2007 6:47 am Post subject:
I don't see how building work can be done at all for 400 houses, do they think people are stupid? where in Vladaja can they fit 20 houses let alone 400? Vladaja is a small place, it is a great place though, i would say it is the safest place to live in Sofia and very accessible to the centre and to the ring road. the people are friendly and public transport is really good. it is very strange that the locals know nothing about it. My friend she went into her local shop in Vladaja when they opened this morning and asked if they had heard about this project, they laughed and thought she was joking, when she announced she had heard the plan was true, the man whom is well known and respected in the area, oh he has lived there all his life, thinks someone must be mistaken or some developer is not telling the truth as Vladaya is just to small for this type of type of project. owners of local shops normally know what is going on in their area don't they? should anyone have further info on this, i would be greatful if they could let me know.
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mummyNewbieJoined: Mar 07, 2007Posts: 2
Posted: Wed Mar 07, 2007 2:03 pm Post subject: Simon Allso BBTL
Hi everyone i am the (MOTHER) person he is reffering to in the article in the Finacial Mail on sunday. And i can assure everyone i have NOT retracted anything or paid his legal costs i am still very much fighting to get my money back he has had it for 16mths and has not done nothing promised, If you go to his main agent Tim Mannion and ask for an existing client to confirm the deal he gives you tha name and number of his oen employee. I will be making my own statement to Lisa Buckingham saying that Simon is a Liar well we all know that but hey i need to say it. If you need anymore more information please let me know i will help all i can thanks ....
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AmandalawProperty SalesJoined: Aug 17, 2006Posts: 112Location: Devon
Posted: Thu Mar 08, 2007 7:42 pm Post subject:
Thanks Adolf for the link, i read the whole article. I read that build has started, i can assure anyone that the build has not started, as i said previously my friend lives in Vladaya and i am sure she would know.
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leedarkwoodTopic Advisor: Visas & Village LifeJoined: Jun 09, 2005Posts: 1659Location: Huddersfield now, and South West Bulgaria soon
Posted: Mon Mar 12, 2007 10:34 am Post subject:
I take it that is not the same Simon Allso that seems to have been in trouble in the British courts? Four years for property related fraud in 1995 and 15 years banned from running companies from 2003? See http://www.hmcourts-service.gov.uk/judgmentsfiles/j2475/rodencroft-v-ssti.htm No, can't be, can it. Must be another Simon Allso. Lee
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tonyf27ukSenior MemberJoined: Apr 29, 2004Posts: 57Location: Scotland+Dilber Cheshma
Posted: Mon Mar 12, 2007 11:30 am Post subject:
looks like somebody(lawyer??)got to Mummy
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· Invest £3.75m immediately,
· Consider the viability of ongoing trading, or
· Sell the land and/or business.
Derby opted for selling. Colin Bateman and Sturmey-Archer's financial director and company secretary, Paul Smith, investigated the options. On 17th December 1999, Sturmey-Archer agreed to sell its site at Triumph Road, Nottingham to Nottingham University for £3.75m. The site was then leased back to Sturmey-Archer for a year to permit relocation of the factory. Nottingham University wanted the site for the £20m National College for School Leadership. Relocation and the search for a new owner Bateman and Smith promptly started a search for separate sites to relocate the Engineering Component and Cycle Component Departments. They also commissioned Manro Consultants to advice on optimizing Sturmey-Archer's profitability. They discussed further outsourcing of manufacturing processes, involving buying in components from Taiwan, with estimated cost savings of 30% and a consequent reduction of about 100 in the workforce. The estimated cost of relocation, excluding the real estate costs, was £4m. This included £1.5m to move the Cycle Component Department, about £0.7m to move the Engineering Components Department and £1.5m for workforce redundancies. Derby considered these costs to be too high. They therefore commissioned a firm of corporate financial advisers, Oasis Europe Limited, to seek potential buyers who would continue manufacture in Nottingham. Meanwhile, a possible management buy-out of the Engineering Components Department was mooted. Most potential buyers merely wanted to 'cherry-pick' certain parts of Sturmey-Archer, especially the name and/or patents. Sturmey-Archer was developing an eight-speed hub, which was of particular interest. Sun Race of Taiwan made a serious offer to buy Sturmey-Archer which would have left some jobs in Nottingham. Their offer was, however, contingent on Sturmey-Archer achieving forecasted sales figures and could not therefore be finalized quickly. Derby, however, were under great pressure from their American investors to reduce debt and the Chase Manhattan Bank required a quarterly progress report. Sale to Lanark One company put forward by Oasis, Lanark Limited, was prepared quickly to buy the whole business as a going concern, complete with all existing and contingent liabilities. The price Lanark offered was lower than that proposed by Sun Race but was more acceptable to Derby because it got rid of debt by the end of the second quarter of 2000, when their American investors had to report to their bankers. Lanark, formed in 1998 and registered at 33a High Street, Heath field, East Sussex, appeared to Derby to be a sound investment firm. It ran four divisions containing about 17 companies. Consequently, on 24th June 2000, Derby sold Lanark The Wright Saddle Company Limited for a nominal sum, believed to be £30. This was slightly less than the retail price of a basic Sturmey-Archer three-speed hub gear. The Wright Saddle Company was a dormant subsidiary of Sturmey-Archer, incorporated in the 1937 and wholly owned by the hub-gear maker. Six days later, on 30th June 2000, Derby transferred the assets and liabilities of Sturmey-Archer into The Wright Saddle Company and its name was changed to Sturmey-Archer Limited. Simultaneously, the former Sturmey-Archer Limited became Derby Cycle Corporation Limited, apparently on the advice of Derby's tax specialists. This was a normal and legal tax avoidance move and should not be construed otherwise. About the same time, and with little or no publicity, Derby Nederland’s sold the profitable European sales and distribution operation Sturmey-Archer Europe BV, based in Amsterdam, to the now Lanark-owned Sturmey-Archer Limited. The sale price was 3m Dutch guilders (about £0.8m) and was in the form of a loan from Derby to Lanark. The directors of Sturmey-Archer Europe BV, which had about seven staff, were Colin Bateman and Paul Smith, the MD and finance director/company secretary of Sturmey-Archer Limited. The deals seemed to benefit everybody. Sturmey-Archer's managing director Colin Bateman said, "For the first time in a long while there is room to invest in production, marketing and product development." Lanark and relocation By this time the financial backers of the suggested Engineering Component Department management buyout had withdrawn. However, they had already found a new factory site and left a completed relocation plan. Lanark’s business adviser, Simon Also, who fronted negotiations for Lanark throughout, suggested therefore that Lanark should also take over the Engineering Component Department. Lanark’s directors assured Colin Bateman and Paul Smith that they would fund the relocation. On 1st July 2000, two non-executive directors were appointed to the Sturmey-Archer board but with little day-to-day involvement. In both July and August, Sturmey-Archer paid its new parent company, Lanark, £60,000 in management fees. Sturmey-Archer also paid £52,000 to another Lanark Group company, Hanson Limited. According to the liquidator's report, Simon Also persuaded Mary Warring, one of the new non-executive executors to authorize this payment, advising her that Sturmey-Archer directors Bateman and Smith had approved it. They had not and were not even aware of the transaction. It later emerged that Simon Also, a former bankrupt, had previously been involved in a large number of business failures in southern England and had been imprisoned for fraud. By mid-August, all the directors of Sturmey-Archer were starting to have concerns about the relocation, as Lanark had yet to provide any funds for this purpose. Negotiations were under way for freehold premises to recourse the Cycle component Department at Calverton, near Nottingham and there was also the site that the failed management buy-out had targeted for relocating the Engineering Components Department. In anticipation of the relocations, which needed to be complete by the end of 2000, stock levels had been increased and additional shifts worked. Lanark proposed that they buy the Calverton site and sublet it to their subsidiary Sturmey-Archer. But at the same time, Lanark wanted Sturmey-Archer to provide them with the purchase money! The proposed agreement between the two companies was never formalized. The financial situation worsens Pinch came to shove when a 10% deposit of £75,000 was needed for the Calverton site. Sturmey-Archer, having recently paid other parts of the Lanark Group £172,000, did not have the money and was expecting Lanark to provide the funding - one of the reasons Sturmey-Archer was sold by Derby so cheaply. Lanark, however, made it clear that they would not be providing the funds. Meanwhile, the landlords of the proposed relocation site for the Engineering Components Department were not happy with Lanark’s financial status and therefore refused to sell. As the situation looked bleaker and bleaker, the board of Sturmey-Archer held an urgent unscheduled meeting with Lanark on 11th September 2000. Lanark were represented solely by Clive Walton, who held a fifth of the shares in Lanark. He stated that he supported the directors of Sturmey-Archer and left the meeting ostensibly to enlist the support of the other Lanark directors. It is reported that some people at the meeting thought Walton had merely left the room for a cigarette break. In reality, he left the building and with effect from that date, resigned his directorship of Lanark. Closure The Sturmey-Archer board were now concerned as to their company's ability to continue trading. They therefore called in insolvency practitioners Smith and Williamson. These advised that, lacking the substantial funding needed to relocate, Sturmey-Archer could not avoid insolvent liquidation. Thus, on Friday 15th September, the first day of the annual IFMA cycle show in Cologne, Sturmey-Archer staff manning the company's stand heard of the insolvency. Closure of the Nottingham plant was announced to its 260 staff the same day. The Independent newspaper reported a long serving employee saying, "The whole workforce is devastated. It is terrible. I have worked here for 42 years and couldn't believe it when we were called into this meeting and told our jobs had gone. The firm says it could no longer afford to pay our wages and asked us all to leave the premises immediately." The same paper quoted Sturmey-Archer 's managing director, Colin Bateman: "This is a sad day for bicycle manufacturing in Nottingham, not to mention for all the staff that work here. We feel very let down. It is a devastating blow." For a time, 28 volunteers stayed on in the factory working on final assembly and packaging. Education and Employment Secretary David Blunkett, responding to an approach from Nottingham South MP Alan Simpson, offered to provide practical and financial help to the company. The East Midlands Development Agency considered buying the new site for Sturmey-Archer and renting it back to them. Sadly these offers did not come it time to prevent Sturmey-Archer's liquidation. Trade Secretary Stephen Byers promised to investigate the circumstances of the closure but at the time of writing (December 2001) does not appear to have published anything. On 22nd September 2000, Derby issued the following press release: Sturmey-Archer In connection with our sale of Sturmey-Archer to Lenark in June of this year there has been much rumour and public comment generated. We share this disappointment and would like to share what we know. We decided to seek a buyer for the business as it did not fit our strategic focus on the manufacture and distribution of bicycles and accessories. It was essential for the viability of the business that a buyer be found without delay who was willing to invest in the patented innovation which Sturmey-Archer had prototyped and to relocate to a new site: the best offer was made by Lenark. In carrying out due diligence on the capability of Lenark to make a success of Sturmey-Archer, evidence was produced showing that they appeared to have more than sufficient resources to undertake the plans the management of Sturmey-Archer had initiated to make a success of the business. We were just as surprised and concerned as anyone that it now appears that Lenark is unable to fund Sturmey-Archer, and this has forced it to enter into insolvency proceedings: we are both a customer and creditor and will suffer from their insolvency along with others in the same position. We understand that an insolvency practitioner has been appointed by the management of Sturmey-Archer to advise them through this period until a meeting of creditors next month determines the future of the business: we sincerely hope that a buyer for the business can be found. We are very distressed that so many Sturmey-Archer employees who served loyally for many years under our ownership of the business will lose their jobs if a buyer cannot be found. One of the few newspapers to report the crisis at Sturmey-Archer in any detail was The Mail on Sunday. On 24th September its reporter Lisa Buckingham revealed that two other firms owned by Sussex-based Lenark had just gone into liquidation and that a further four were days away from the same fate. Gary Matthews, chief executive of Derby, protested to The Mail on Sunday his surprise that Sturmey-Archer was facing ruin: "We understood Lenark to be a robust investment firm. They were represented by top-flight counsel." Matthews also claimed that Derby carried out "the appropriate due diligence" to ensure Lenark were up to the mark. However, as the newspaper reported, the Department of Trade and Industry (DTI) revealed that Simon Allso was declared bankrupt in 1992 and had been linked with at least eight insolvencies. Lenark director Barry Robinson was reportedly a professional gambler based in Las Vegas. The Mail cited the Experian credit rating firm, which described Lenark's financial position as weak, with current assets of just £48,000 at the end of the year to May 1999 and liabilities of £600,000. Creditors' meeting On Monday 2nd October, creditors of Sturmey-Archer arrived in Birmingham for a meeting of about 50 people which was expected to place the company in liquidation. Jeremy Lewis and James Stack, on the This is Nottingham website, reported the events in graphic detail. Attendees discovered that control of Sturmey-Archer had changed. Lenark had sacked the management team just two hours before the meeting. The new directors, Barry Robinson and his associate Alan Brigham, wanted to avoid liquidation and instead intended applying for an administration order in the High Court the following Friday. The meeting was therefore redefined as an informal meeting of creditors rather than a formal creditors' meeting. The meeting started without Barry Robinson, who arrived ten minutes late. Delegates demanded the freezing of Sturmey-Archer's bank account with Barclays at Walton-on-Thames, from which a further £25,000 had recently been taken by Lenark making a total taken of some £192,000. They also succeeded in getting Lenark to reconsider the application for an administration order, arguing that without a substantial injection of cash, it would be pointless so late in the day. Freshly-sacked former managing director Colin Bateman argued that placing the company in administration would be a disaster: it would delay redundancy payments to the workers by many months, and it would lose the company customers who would go elsewhere. The meeting was heated. At one stage, a departing Sturmey-Archer manager, Alan Ettles, asked Barry Robinson, "What has changed to make you believe it is worth investing in? Have you come for a bit more of the cake? The crumbs that are left? What are you after?" Robinson replied, "We are trying to save Sturmey-Archer. ... We want to save as many jobs as possible." Nottingham South MP Alan Simpson asked why Lenark had not approached the DTI or the Department for Education and employment for assistance with the relocation to Calverton. He also asked for the financial guarantee that Lenark gave to Derby to be published. Derby's corporate controller, Simon Goddard, reiterated the company's stance that it had undertaken "due diligence" via a firm of financial advisers. Gary Matthews, chief executive of Derby, had told The Mail on Sunday that Wragge and Co. did the due diligence on Lenark. But Wragge and Co. denied this at the meeting, saying it was done by Oasis Europe, the company that made the Derby-Lenark match. Oasis subsequently denied this, leaving suspicions that nobody did the due diligence, despite what may have been believed by those involved. Tony Murphy of Sturmey-Archer's insolvency practitioners Smith and Williamson, pointed out that three Lenark companies were in liquidation, another in receivership and a fifth might well go into liquidation following a creditors' meeting in a week's time. Derby had insolvency practitioners at the meeting, partly because Lenark still owed them about £0.8m for the purchase of Sturmey-Archer Europa BV. Hence, Derby too was keen for immediate liquidation. Also present was George Hu of Sun Race USA, wearing a black shirt emblazoned with his company name. Plainly his company still wanted Sturmey-Archer. New Sturmey-Archer MD Barry Robinson was given fifteen minutes by the meeting to consider his options. This he did and announced, through Tony Murphy of Sturmey-Archer's insolvency practitioners Smith and Williamson, that the bank account would be frozen and that Lenark would underwrite the cost of investigating the benefits of putting the company into liquidation. David Stott, an engineering manager with Sturmey-Archer, successfully demanded that the meeting not be allowed to break up until it had been confirmed that the bank account was frozen. Liquidation By the end of the week, Barry Robinson, having twice visited the Nottingham factory, had decided that there was no way a rescue could be arranged using Sturmey plant as collateral. Therefore administration was no longer an option. Derby chief executive Gary Matthews then said that Derby might be interested in buying some of Sturmey-Archer's bicycle related divisions, but nothing came of this. So, Sturmey-Archer went into liquidation. The directors attributed its failure and the loss of some 300 jobs to the lack of financial support from Lenark. They considered that, apart from the necessity to relocate and costs associated with this, the company remained a fundamentally viable business. Assets were estimated to realise £3.7m. These included a 100% shareholding in Sturmey-Archer Europa BV, valued at £0.75m; machinery and equipment valued at £1.1m and stock worth £1m. The company had a deficit of £2.3m. The largest category of creditors was the employees. Their claims in lieu of notice and redundancy pay amounted to nearly £3.3m. In early November 2000, as liquidation of Sturmey-Archer proceeded, the management team of Brooks saddles paid the liquidators £1m and thus saved the Smethwick, Birmingham operation. Brooks exported 85% of its production to more than 180 countries and was established in Birmingham about 1870. The plant employed about 20 staff. An anonymous 'UK bike trade individual' financially supported the acquisition. The new managing director of Brooks was Gordon Nixon. He had been the Brooks factory manager and the two-day a week personnel manager for Sturmey-Archer. Auctioneers FD Savills auctioned the Sturmey-Archer factory equipment. A sale preview was held on Monday 11th December. The equipment included three Liebergeld cold-forging presses, said to be worth more than £100,000 each. The largest weighed about 1,000 tonnes. The full list of equipment is given below this article. Sun Race buy Sturmey-Archer On the day of the auction preview, 11th December 2000, the following press release was issued by Sun Race Roots Enterprise Co. of Taiwan: From the Office of The President, Sun Race Roots Enterprise Co., Ltd., is pleased to announce the following: Sun Race Roots Enterprise Co., Ltd., a public traded company on Taiwan Stock Exchange, one of the largest global manufactures of bicycle drivetrain components of 28 years, one of the key players in the bicycle industry in North and Latin Americas and Asia, has just completed a deal with Sturmey-Archer Ltd., the producer of the 98 years old Sturmey-Archer branded bicycle internal gear hubs, the "original" inventor of the internal gear hub system. The deal will give Sun Race a strong foothold into the European market. This purchase completes Sun Race as one of the three total bicycle drivetrain solutions provider in the same league next to Shimano and SRAM. Total investment on the purchase, to bring production back, and to develop new products for introduction in 2002 will be around Three and a Half Million US Dollars (USD$3,500,000.00). The North American operations will change the name from Sun Race USA to Sun Race Sturmey-Archer USA. The European operations will change the company name from Sturmey-Archer (Europa) BV to Sun Race Sturmey-Archer Europe BV. The parent company Sun Race Roots Enterprise Co., Ltd., will change the company name to Sun Race Sturmey-Archer Inc. Sun Race's China operations will be renamed as Sun Race Sturmey-Archer (WuXi) Industries. It is Sun Race Sturmey-Archer Inc.'s intention to continue with the 98 years old Sturmey-Archer Brand which has traditionally been associated with high end. With the back up of the newly added engineering, manufacturing and marketing capabilities of Sun Race, Sturmey-Archer products will continue and expand to a full Internal Gear Hub Drivetrain Group consist of Shifters, Brake Levers, Chainwheel Crank Sets, Chains, and Internal Gear Hubs with Drum and Coaster Brakes. Sun Race Sturmey-Archer Inc. will market the Derailleur Drivetrain Groups, which consist of Shifters and Brake Levers, Front and Rear Derailleurs, Chainwheel Crank Sets, Freewheels and Cassettes, Hub Sets, and Multiple Speed Chains under the Sun Race Brand. The production of Sturmey-Archer hubs and service parts will continue from Sun Race Taiwan factory. The move will make Sturmey-Archer Products much more competitive than before. Production will start January 2001 with resume shipping dates of late March, early April 2001. And for the year 2002, celebrating the Century Mark of 100 years on Sturmey-Archer, Sun Race Sturmey-Archer will introduce a very special surprise based on the patent pending technology.
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LISA BUCKINGHAM, FINANCIAL MAIL EDITOR
Another nail in the coffin of market repute
4 March 2007
The only surprise at the criminal fraud charges brought against 13 Wall Street traders last week was that the American authorities had actually investigated and decided to prosecute one of the most pervasive insider-dealing rings since the days of trader Ivan Boesky.
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As small shareholders know to their cost, despite the panoply of regulation and market scrutiny on both sides of the Atlantic, insider dealing remains rampant. It rarely manages to find its way into the courtrooms. And even when it does, convictions are notoriously difficult to secure.
The arrival of the private equity megadeal has made things, if anything, harder to control. A consortium of two or three private bidders with respective advisory entourages means keeping a prospective takeover move under wraps is about as likely as making a safe crossing of the M1 with your eyes shut.
Research by the Financial Services Authority this time last year into takeover bids in the first four years of the new millennium revealed that there was a degree of 'informed trading'-insider dealing - ahead of a stunning 29% of takeovers.
Things may have improved since then. When the FSA gives an update on its research into later years, taking into account a rather more mature enforcement regime, it will be hoping such systematic market abuse shows signs of reduction.
It is easy to look at the latest example of abuse in New York, which could be characterised as tipping off a few mates before a share recommendation was issued by a 'respected' broking house, and regard it as a victimless crime. It is estimated that the 13 netted 'only' about £8.5m between them - not enough to keep most self respecting American chief executives on the payroll for a year.
As usual, though, the victims are private shareholders. They are not on the inside. Their trust in a financial services system that has already served up mis-selling scandals and rip-offs on a monumental scale is further eroded each time such scandals are exposed.
Marks & Spencer boss Stuart Rose was last week depicted as a Gerald Ratner-style gaffe-maker for having admitted he had considered the idea of a bid for Sainsbury's.
His comments, made on the fringes of a retail conference, ran on the Bloomberg newswire for a few hours as the M&S board and its advisers frantically worked out a wording that would see off the more officious watchdogs of the Takeover Panel while appearing to leave open the possibility of bidding under practically any foreseeable circumstance. The only prospect apparently ruled out was a hostile, cash bid.
I've no doubt Rose has looked at Sainsbury's. He will be sorely tempted if a private equity bidder comes along. But possibly last week's blunder was a little more strategic than it at first appeared.
M&S's barely dampened acquisitive possibilities served to pump Sainsbury's share price higher - not as high as a mooted venture capitalist would have to pay - but certainly towards the levels at which a bid of 550p a share (the mooted price from the private equity predators) would struggle to offer much in the way of a bid premium.
Justin King is doing a very creditable job of turning round the supermarket group. There is a suspicion, however, that he might, just might, do even better if the rich rewards of private equity ownership were his for the taking.
And as the Sainsbury's middle-market customers are bang in the middle of M&S's target audience, Rose would almost certainly be happier with King simply firing on six cylinders, rather than supercharged.
Simon Allso, whose colourful career has been documented over the years by Financial Mail has once again hoved into view. Recently emerged from bankruptcy order number two and disbarred as a UK director, he has teamed up with another boardroom outlaw, Anil Kohli, to mastermind buy-to-let housing in Bulgaria.
Allso has hit the investment zeitgeist. Bulgarian property is flavour of the month for those with a few hundred thousand euros to spend. Blue-chip companies will want to rent properties for their employees and there may well be a strong aftermarket for sales to local people.
It seems remarkable, however, that two men who misbehaved badly enough to prompt action from the notoriously somnambulant Department of Trade and Industry can persuade people to hand over £5,000 on trust for the (possible) chance to buy a house for up to 250,000 euros.
At least Allso and Kohli got caught and their record is there to see for anyone with sufficient intelligence. But as ICC Credit - a leading credit reference agency - said following our story of cutbacks in the Insolvency Service, the future could mean that 500 rogue directors a year escape scot-free. And the people they try to persuade to invest will have no record to search.
Other stories: M&S considers £10bn Sainsbury bid Tax win for M&S could hit state coffers
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AmandalawProperty SalesJoined: Aug 17, 2006Posts: 112Location: Devon
Posted: Mon Mar 05, 2007 6:47 am Post subject:
I don't see how building work can be done at all for 400 houses, do they think people are stupid? where in Vladaja can they fit 20 houses let alone 400? Vladaja is a small place, it is a great place though, i would say it is the safest place to live in Sofia and very accessible to the centre and to the ring road. the people are friendly and public transport is really good. it is very strange that the locals know nothing about it. My friend she went into her local shop in Vladaja when they opened this morning and asked if they had heard about this project, they laughed and thought she was joking, when she announced she had heard the plan was true, the man whom is well known and respected in the area, oh he has lived there all his life, thinks someone must be mistaken or some developer is not telling the truth as Vladaya is just to small for this type of type of project. owners of local shops normally know what is going on in their area don't they? should anyone have further info on this, i would be greatful if they could let me know.
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mummyNewbieJoined: Mar 07, 2007Posts: 2
Posted: Wed Mar 07, 2007 2:03 pm Post subject: Simon Allso BBTL
Hi everyone i am the (MOTHER) person he is reffering to in the article in the Finacial Mail on sunday. And i can assure everyone i have NOT retracted anything or paid his legal costs i am still very much fighting to get my money back he has had it for 16mths and has not done nothing promised, If you go to his main agent Tim Mannion and ask for an existing client to confirm the deal he gives you tha name and number of his oen employee. I will be making my own statement to Lisa Buckingham saying that Simon is a Liar well we all know that but hey i need to say it. If you need anymore more information please let me know i will help all i can thanks ....
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AmandalawProperty SalesJoined: Aug 17, 2006Posts: 112Location: Devon
Posted: Thu Mar 08, 2007 7:42 pm Post subject:
Thanks Adolf for the link, i read the whole article. I read that build has started, i can assure anyone that the build has not started, as i said previously my friend lives in Vladaya and i am sure she would know.
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leedarkwoodTopic Advisor: Visas & Village LifeJoined: Jun 09, 2005Posts: 1659Location: Huddersfield now, and South West Bulgaria soon
Posted: Mon Mar 12, 2007 10:34 am Post subject:
I take it that is not the same Simon Allso that seems to have been in trouble in the British courts? Four years for property related fraud in 1995 and 15 years banned from running companies from 2003? See http://www.hmcourts-service.gov.uk/judgmentsfiles/j2475/rodencroft-v-ssti.htm No, can't be, can it. Must be another Simon Allso. Lee
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tonyf27ukSenior MemberJoined: Apr 29, 2004Posts: 57Location: Scotland+Dilber Cheshma
Posted: Mon Mar 12, 2007 11:30 am Post subject:
looks like somebody(lawyer??)got to Mummy
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746 comments:
«Oldest ‹Older 601 – 746 of 746If you would like to read about all Simon allso's legitmate activities, that were more than a scam, please refer to simon's blogs, here he reveals the true extent of his brilliance
http://simonallso-marketing.blogspot.com/
and for another gem, again a real insight into simon allso's legal enteprises read this, a real insight into his achievements
http://simonallso-marketing.blogspot.com/
but this is one of my favouries, here we find out why simon believes he is worth £4000 per day
http://www.simonallso.com/
but wait, this man just cannot giving, another insight into simon allso's legal endevours
http://www.simonallso.net/
not wanting to be outdone by her husband
http://ingridallso.blogspot.com/
here we can read about Ingrid's legitimate excuses for taking mmoney from BBTL investors
http://ingridallso-companies.blogspot.com/
any news on Steve Hodgson and Tim mannion, they were in Business together, vista worldwide property.
I keep reading the obituaries, but havent seen kohlis or allso's names in there.... yet
Hello All
Long time no speak.
I am here to alert you all to a possible violation of company law by Simon Allso. As most of you already know, Allso is disqualified from being a company director, this is due to criminal activities that resulted in a four year prison sentence but it appears he is a director, or has until recently been a director of a company called W.E Collins Limited. To add to his problems he is registered at his address in Bournemouth, an address that he is not his full time residence. This is a clear violation of business law, as he is "struck off" the directors register and banned from being a director questions must me asked has to how this has been allowed to happen. Over to companies house to demand an investigation.
Simon allso
The little circus clown that believes the bulgarian banks put aside 30 million for his pyramid scheme in Bulgaria, a man that believes it is lawful to put money into his retired wife's bank acount and call it 'expense income', the man that reassessed his developement in Bulgaria after 18 months and came to the conclusion that his contractors could build 10 properties a week. I question the ethics of agents, knowing the history of the asset stripper, that would continue to encourage their clients to sign 'contracts' that totally relied on the integrity of Simon Allso and Anil Kohli.
they only had to do the most elementary of checks to discover the truth behind the pyramid scheme.
It is documented that money was taken from the allocation queue and put into the accounts of Kohli's and Allso's families and colleagues accounts.
Robert rob-u-blind gavin, Alan Forstyth, Steve Hodgson, Tim Mannion, you have alot of explaining to do.
For ALL the people who have lost money or have had dealings with Tim Mannion (Timothy Iam Mannion DOB:3-6-1955), he has now left Riviera Del Sol, Spain bled dry of about 80-100 thousand Euros swindeled from his previous boss. He has now moved back to the UK with his lovely girlfriend and partner in crime Jax. He is currently selling time share in Kent with Steve Hodgson +44(0)7545 891690. Mannions previous boss has also contacted the UK Police as Mannion has been using his name fraudulently in the UK. The UK Police are also currently investigating Mannion for previous (personal) frauds there for over 100 thousand Euros. Seems there is something to be said with the old saying; 'Leopards never change their spots'.
if you do a search on steves number
it comes up with a company called
www.punctureseal-it.co.uk,
Office:
404, 4th Floor
Albany House
324/326 regent Street
London, W1B 3HH
Tel: +44(0)844 5047415
Mobil: +44(0)7545 891690
Off Steve Hodgson's Business Card
"VistaWorlwide Property"
steve@vistaworldwideproperty.com
In the past, Simon has shared how he can assume a new identity, to try and escape his past history of fraud, prison , numerous failed ventures and pyramid schemes but even as a sole proprieter, surely he must still have to reveal that he is the asset stripper Simon allso, in the interests of public safety.
For example Simon Allso trading as normalsizedliegitimatebusinessman.
I thought that was a legal requirement, perhaps Allso could advise us, I am sure he knows the law intimately, his sort normally do. He liked to argue the finer points of Bulgarian law with his lawyer.
I think simon has heeded the warnings from his partners in crime and is keeping his mouth shut. Well done simon, learning to do what others tell you... its a big mistake to start thinking for yourself, let others take command, we have witnessed the results of when to try to manage things yourself,best to leave it to the adults, to the big boys, the real men.
In order to try and escape from his history of helping fraudsters to sell scams , and telling the most outrageous lies in order to make a sale, steve hodgson is now going by a different name
Stephen Adams
http://www.linkedin.com/profile/view?id=70099298&authType=name&authToken=v4Iw&pvs=pp
Steve Hodgson AKA Steven Adams lives in Leeds with his wife and 3 children and has owned a property there for years now. Perhaps if you are looking for him you should start there. The previous London business address posted was a "room" in a rented "office suite" set-up so, perhaps they have moved on to another "rented office suite". Portobello2113@gmail.com is another e-mail for Tim Mannion that has an IP address in Bulgaria. It was still being used as of April 2011.
Robert Gavin, One of the agents that helped convicted fraudster Simon allso and banned director Anil Kohli mis-sell the bogus 100% finance scam in Bulgaria is now running the singing pig forum.
Thats a bit like appointing nick griffin as head of a race relations forum.
Miliband declares war on Britain’s ‘asset-strippers, about time, eh Mr Allso?.
http://www.heraldscotland.com/news/politics/miliband-declares-war-on-britain-s-asset-strippers-1.1126085?localLinksEnabled=false
The governments are also cracking down on making false claims on websites.
http://business.ftc.gov/documents/bus28-advertising-and-marketing-internet-rules-road
When the convicted fraudster Simon Allso took a break from asset stripping and pretended to be a developer , he promised corporate tenants, finance, land, ikea furniture, etc.
Unfortunately for investors, the only finance that existed , was the money that was decieved out of investors, and much of this ended up in Ingrid Allso's account.
I wonder if Robert Gavin will be writing about this on singing pig.
Is Simon Allso still living at the same address in Andover ?
He decieved me out of £75,000 of my families money, and I cannot forget that.
The pint sized fraudster Simon Allso is back in court.
I dont think barclays bank wants to be associated with a dirty little scumbag
http://eu.adr.eu/adr/decisions/decision.php?dispute_id=6071
I see the courts took into account Allso's history of fraudulent activity when making their final decision.
The possibility that the domain name might be used for fraudulent activities is further exacerbated by both the Respondent’s criminal history and subsequent behaviour. On November 2, 1995, the Respondent was sentenced to a total of four years imprisonment for two offences of fraud and two offences under section 11 of the Company Directors Disqualification Act 1986. He was further disqualified from acting as a director under section 2 of that Act for 10 years. On October 22, 2003, a maximum period disqualification of 15 years was imposed on Mr. Allso as a result of his operation with relation to another failed company, In-A-Flap Envelope Co. Ltd. The Complainant has submitted a copy of a judgment referring to the above, in the form of Annex 4.
dirty little scumbag. I think he is itching to get back into jail, perhaps he is missing the male companionship, perhaps Ingrid is not giving him want he really wants.
Phil thank you for posting the latest information. It offers a fascinating glimpse into the increasingly desperate wold of Simon Allso,
A world where nothing is quite as real as he would like us to believe. It is stated quite clearly that the court suspect that this latest Simon Allso enterprise was a potential fraud. It is further evidence of his cognitive decline, he is delusional and or incredible desperate for money, after all who in their right mind would employ the services of a man convicted of fraud and so many other offences.
His latest venture reminds me of those Nigerian email scams one receives once or twice a month, a desperate attempt by equally desperate and not so clever criminals to extract money from innocent people.
Simon Allso is not by any stretch of the imagination an intelligent man, he does bring himself to the attention of the authorities and face conviction on a regular basis. I understand the Irish authorities are looking into his current activities closely.
I sent an email to simon :
Simon
http://eu.adr.eu/adr/decisions/decision.php?dispute_id=6071
so you have given up on 'property developement' and have now moved into corporate funding.
I am suprised that Barclays werent over joyed to be associated with such a giant in the corporate world.
any chance of you dipping into the funds and giving back the money promised in 2007, you know
when you were going to sell that non existant house in petarch and pay back the money I was decieved out of.
I hope the funding isnt just a figment of your imagination, you should have learned from the BBTL disaster,that if funds, planning permission, tenants are largely imaginary , it is not a good foundation for a successful business venture, especially with you and kohli siphoning off funds and putting them into your friends
and families accounts.
Its a relief to hear that you are still fit and well and continuing to do business in the way that you have always
done.
Phil.
this was simon's reply
Phil
It is not a 'court' silly man and I am certainly not 'in court'
Just an arbitration hearing to decide the fate of a web domain that was registered too similar to Barclays
There are no penalties as I had already changed the name and in any event it was not even used
So please calm down and stop your fantasy and lies and wasting everyone's time
Yours,
Simon Allso
simon@allso.net
Simon Allso MFSB
TEL: 0844 997 0173 FAX: 0844 997 0174
· Shareholder Consulting - Overseas Management - Corporate Restructure - Dispute Resolution - Due Diligence – Corporate Finance and Insolvency
I am open to suggestions what MFSB could stand for, I can think of quite a few phrases, but cannot repeat them on here, apparantly the law take verbally abusing CONVICTED FRAUDSTERS ( by the victims ) more seriously than decieving 200 investors out of 1.5 million.
I note how the court, or arbitrary whatever took into account Simon's history of fraud when making its final decision
It has been noted Simon's lame attempt to hide his history of fraud in the search engines with lots of empty blogs.
I wonder why somebody has to write their name three times in an email ?
Regarding the pathetic reply from convicted fraudster Simon Allso. He really does not want this out in the public domain (too late Simon, it already is). It is interesting to note that this "non Court" has access to Simon Allso's criminal records and as clearly stated by them they do think very much of him. In-fact no one thinks very much of him. Not many authorities have access to criminal records.
Simon, you need help I would assume that you are not a well man, I think you know what I am talking about. There are people willing to help you.
What ever Simon Allso does, whatever fraud he tries to perpetrate there will be someone watching his every move, just waiting to bring in the police and put him back in prison.
It has been noted that Simon Allso has been spotted in his home town of Andover, Hampshire looking dishevelled and confused. Like his troubled business it appears Mr Allso is also going down the drain. All tyrants come to the end one day and perhaps we are seeing the last desperate attempts by a failed useless criminal to make a few quid before he finally crumbles. He is the lowest of the low. Good riddance.
Phil, MFSB probably the Federation of Small Businesses. How ironic that such a fine organisation has as a member, someone so untrustworthy.
It might be a good idea dear reader to contact then on 0808 20 20 888 just to ask if someone with Mr Allso's credentials/fraud conviction is allowed to be a member, remember no names, its just an enquiry.
Dear Reader.
Simon Allso made a huge error when modelling his new "venture" on Barclays Corporate Funding. Even the most stupid of people would realise that a large corporation such as Barclays would (once being made aware) remove any business trying to emulate its own name.
We have discovered that Simon Allso has changed his new "company". It is now called Axis Corporate Funding, incredibly similar the the corporate funding arm of the Axis Bank Limited of India.
Unlike any most legitimate companies Simon Allso's Dublin enterprise does not have a phone line or any staff, strange!.
So an email from a reader or two to the Axis Bank Limited at: nricell@axisbank.com
and let them know you are concerned about the possible confusion, or any other abuse you can imagine, between the two companies.
Just incase any of you are looking to refinance your business and are looking for Simon Allso's Axis Corporate Funding Limited you can find him at:
KANDOY HOUSE
FAIRVIEW STRAND
DUBLIN 3
He is not allowed under UK law to be a director of a business. I understand that under EU law once the Irish authorities are made aware of his history and as he is not a resident of Ireland he can be removed and banned from holding a directorship.
Thankyou for the update passenger.
Email sent
Hi
It has come from a reliable source that the convicted fraudster, Simon Allso, recently set up a business in Ireland called Axis Corporate Funding.
Simons previous business was called 'Barclays Corporate Funding', you can read about it here
http://eu.adr.eu/adr/decisions/decision.php?dispute_id=6071
We hope that once the authoroties in Ireland find out about Simon's history and discover he is not a resident in Ireland, he will no longer be
able to hold a directorship. Simon Allso is not a nice man to deal with, he suffers from dillusions of his own abilities, and tries to verbally bully his victims, though in reality he is a small , feable minded man that does not have the courage to speak directly with his victims.
Just incase any of you are looking to refinance your business and are looking for Simon Allso's Axis Corporate Funding Limited you can find him at:
KANDOY HOUSE
FAIRVIEW STRAND
DUBLIN 3
warm regards
Phil
I just received a note from allso
Phil
Just seen your post below which amused me very much
I owe you a big thank you for earning me more fees.
IF you had checked you facts you would have noted that the company in Ireland is not mine or anything to do with me but one I was simply paid to register for a client. I have no knowledge of even what the company does!!
So unfortunately for you all you are doing here is making life awkward for my client but not me which will be amusing when I forward this to him and he takes action against you maybe as you have (as normal) not done your homework and got your facts wrong again.
When Barclays made my client change the original name I earned more fees and now I will do so again with a bit of stirring up by you if Axis whoever make him change it again.
So thank you so much for making Xmas much more profitable and please feel free to write more about Axis
Have a good weekend
I offered to pop round, so he can thank me personally,
Interesting that Simon Allso should try to distance himself from both Barclay corporate funding and Axis. Allso claims he supposedly only registered the domain names for these companies (utter rubbish), it is extremely odd that Simon Allso should be a director of both companies and in the case of Axis has been recently recorded actively promoting it in Ireland.
I would say from reading Simon Allso's email to Phil that, he has money problems (perhaps) that the only place he can try to rebuild his career (if you can call it that) is to go to Ireland where he thinks he can go about his business unnoticed.
His email is a bluff designed using his superior intellect to throw everyone of the scent. It will obviously put a stop to the investigations being carried out and awkward questions being asked as well as Simon Allso being exposed (yet again) and perhaps scuppering his latest project on the strength of this one email to Phil, yea right!!!
Watch this space folks!!!!!!!
Let say that Simon Allso has been acting on behalf of a 3rd party company, I wonder how that business would perceive Simon Allso if they found him gloating about how much money he is making from the poor advice they are receiving.
Let say that Simon Allso has been acting on behalf of a 3rd party company, I wonder how that business would perceive Simon Allso if they found him gloating about how much money he is making from the poor advice they are receiving.
Phil I can assure you he is not working for a third party and he is not making money. Its all lies.
Allso thanked me for helping him to make more money from his 'client' Note that Simon Only ever acts legally. He was previously threatening people on the forum when they mentioned him being imprisoned for fraud.
I sent him a reply saying that I can pop round and he can thank me personally
this was his reply
Remember the Police 'popping round' to you last time Phil!!
I forwarded this to them as I only act legally
If you have a problem still issue a writ and see me in court as I have told you a million times over
popping round to accept gratitude is not acting illegally,
if you only acted legally, you wouldnt have been banned twice
as a director , receiving the maximum ban of 15 years, and you have been imprisoned for fraud
You know that I was deceived out of £75,000, and the reason you have got away with it, is because of the poor legal system in the UK /Bulgaria, not because you were acting as a descent human being
I was told that I would recieve a 14 houses within a year with 100% finance, at the time Bulgaria BTl had virtually no finance. You are aware that the agent selling this was further adding to your lies by stating that the first developement was complete.
I had not counted on financing a pyramid scheme in Bulgaria, run by two banned directors that were telling one lie after another
and siphoning money off the scheme and putting it in their wives and associates accounts ( ref buybulgaria insolvency report )
your explanations of how the houses were to be built and financed are laughable, only somebody with your
dillusions would believe a bank would contemplate lending a convicted fraudster 30 million pounds, or that the contractors
could build 10 a week, you are obviously someone with severe mental problems if you believe
this amount of houses can be built in Bulgaria, with little finance, little planning permission, using cheap labour to
european standards. The only way you were able to sell this project , was to grossly exagerate your resources
while hiding the number of sales being made.
Your threateneing behaviour on the forums , in which you threatened people because they accused you of fraud
was noted, Is ingrid aware of the perverted comments you were writing and how you were threatening the victims
of your deception with your 'doorman skills'
you know that you deceived lots of people out of money, you are a person of no morals,
so you try to goad the very people that you have deceived,
this only adds insult to your deceptive behaviour
Phil
popping round to accept gratitude is not acting illegally,
if you only acted legally, you wouldnt have been banned twice
as a director , receiving the maximum ban of 15 years, and you have been imprisoned for fraud
You know that I was deceived out of £75,000, and the reason you have got away with it, is because of the poor legal system in the UK /Bulgaria, not because you were acting as a descent human being
I was told that I would recieve a 14 houses within a year with 100% finance, at the time Bulgaria BTl had virtually no finance. You are aware that the agent selling this was further adding to your lies by stating that the first developement was complete.
I had not counted on financing a pyramid scheme in Bulgaria, run by two banned directors that were telling one lie after another
and siphoning money off the scheme and putting it in their wives and associates accounts ( ref buybulgaria insolvency report )
your explanations of how the houses were to be built and financed are laughable, only somebody with your
dillusions would believe a bank would contemplate lending a convicted fraudster 30 million pounds, or that the contractors
could build 10 a week, you are obviously someone with severe mental problems if you believe
this amount of houses can be built in Bulgaria, with little finance, little planning permission, using cheap labour to
european standards. The only way you were able to sell this project , was to grossly exagerate your resources
while hiding the number of sales being made.
Your threateneing behaviour on the forums , in which you threatened people because they accused you of fraud
was noted, Is ingrid aware of the perverted comments you were writing and how you were threatening the victims
of your deception with your 'doorman skills'
you know that you deceived lots of people out of money, you are a person of no morals,
so you try to goad the very people that you have deceived,
this only adds insult to your deceptive behaviour
Phil
Simon calls my emails rubbish, but he will not be specific what is rubbish.
Phil
I have never been in contact with you and never would except to reply to YOUR e-mails full of the same incorrect rubbish
I am not acting illegally in any way and all the matters you have referred to have been investigated fully and found to be perfectly legal.
Why you don't just take the matter to court if you still have a problem I do not know as that is your proper redress to any problem you have.
Otherwise just please stop bothering everyone with the same old stuff that is primarily a figment of your imagination and that of the odd person you wind up.
How many actual REAL people are behind you on what you say and IF there are all these people up in arms why has NOT ONE person taken ANY action against me to prove their point or not?
I think that says it all and I will leave you now to your pointless ranting and raving about matters that are not even the truth as no one even bothers reading these silly blog posts anymore anyway
Yours,
Simon Allso
Simon Allso
simon@allso.net
I note that the MFSB has suddenly disappeared from his signature.
I note that the MFSB has suddenly disappeared from his signature.
Simon
I have a client that wants to set up a company called
'Nationwide Building Society Corporate funding'
I know that you never do anything illegal,
can you see any possible legal implications with this ?
Simon
Any reason for dropping the MFSB from your signature ?
Please tell me where I can get the investigation report into the BBTL investment, perhaps it can address my concerns
such as lack of land, planning permission, finance, corporate tenants, timescales, the distribution of funds amongst
your friends and family and the mis-selling by at least some of your agents.
As a bankrupt convicted frauster, with a retired wife, how were you affording to live while these houses were being built ?
or did you believe that the money collected from the allocation queue was sufficient to build this quantity of houses and support
you and Kohli via your wives accounts - what you described as 'expense income'
Is the BBTL lawyer willing to support you and your 'investment', I understand he is still owed money
well, at least Ingrid did alright out of it.
Phil.
Phil
No reason at all why MFSB 'came off' my digital signature except when it is sent via mobile it does not appear.
For what it is worth, all my clients know my background before I do any work for them and I actually direct them to all the silly blogs and stories that have appeared as it shows what I have told them is indeed correct and that I have the 'background' experience they are paying me for. As you know, I get paid to 'take the blame' for others to keep THEIR reputation safe and good. That is exactly the reason they pay me so well - so I have no problem with people like you 'blaming' me publically for whatever Phil as it adds to the experience I am credited with. That is why I find what you do amusing because you do not realise the good you do me by publishing rubbish.
The fact is that if I was indeed doing something wrong I would have been placed before the Court well before now and have not been. The ONLY person to have had the Police at their door is YOU for Harassment ironically
Anyway, that is why I have not bothered trying to legally suppress what rubbish you and one or two others write as it does me more good than harm now I have realised how to use negative publicity (whether true or not) that you generate. So please continue as it is now helpful and not a hindrance.
Happy now?
Have a lovely day
Yours,
Simon Allso
simon@allso.net
Simon Allso MFSB
Alan Forsyth.
The first agent to work with the convicted fraudster Simon allso was alan forsyth.
Alan was involved at the very beginning, this how Alan writes about the convicted fraudster Simon allso and the banned director , Anil Kohli
The 2 UK directors have many years experience managing funds in the city of London, while one of the 2 Bulgarian directors used to be mayor in Sofia and has considerable status in corporate finance management, considerable ministerial contacts and knowledge of Bulgarian commercial life, while the other as director of a growing and vibrant Bulgaria property company with offices in Sofia, Varna and Bourgas has excellent local knowledge and understanding of the land and real estate market through day to day business.
This offers us as investors fantastic opportunites to take advantage of the growing market for land and property, without having to get mortgages, worry about void periods or re-sales.
this can be viewed here
http://web.archive.org/web/20050830081613/http://www.property-investment-tips.com/Bulgaria-property.html
I have always maintained that the agents lied in order to sell the pyramid scheme, and this is further proof.
Perhaps Simon needs to read about what is acceptable and not acceptable as a banned director
What am I not allowed to do?
While the order or undertaking is in force, it stops you acting as if you were a director. So you cannot avoid the order or undertaking by simply changing your job description.
The order or undertaking also means that you must not get other people to manage a company under your instructions.
The order or undertaking does not stop you from having a job with a company, but unless you have court permission it does stop you:
being a director of a company;
acting as receiver of a company's property;
being concerned in or taking part in the promotion, formation or management of a company and
you must not act as an insolvency practitioner.
The order or undertaking does not stop you carrying on business as a sole trader or in partnership with others but, unless you have court permission, you must not be a member of or be concerned or take part in the promotion, formation or management of a limited liability partnership in relation to a company formed in England and Wales, or in Scotland.
You must not do any of the prohibited acts in relation to a foreign company if:
it is registered here; or
it has a sufficient connection here (for example, if it carries on business or has assets here) even if it is not registered here.
You must not do any of the prohibited acts in relation to a building society or an incorporated friendly society.
You must not hold various other offices, such as the trustee of a charity: always take professional advice first.
What will happen if I contravene an order or undertaking?
You are then committing a criminal offence and you could go to prison for up to 2 years and face a fine.
The Insolvency Service operates a 24-hour telephone hotline to enable the public to report breaches of these orders and undertakings.
If you contravene the order or undertaking, you could also become personally liable for any debts of the company which it incurs while you contravene the order or undertaking.
Anybody who actions your instructions may also be personally liable.
If the order has been made against, or the undertaking given by, a corporate director, and that corporation contravenes the order or undertaking, then its officers or managers can be punished as if the order or undertaking applied to them personally.
Can I ask for permission to act in a way prohibited by the order or the undertaking?
You can ask the court for permission to become a director of a company or do anything else that the order or undertaking prevents. However, the court cannot give you permission to act as an insolvency practitioner.
You need to satisfy the court that you have a reasonable need to do what you are asking - not just that you want to do it.
You also have to satisfy the court that, if it gives you the permission you want, the public will be adequately protected. The court may require safeguards and may impose conditions on you.
If you want to ask for permission, you will need to make a formal application to the court.
As a Banned director, Simon Allso should not be taking part in the formtion of a company
Simon has openly admitted his part in helping the formation of "barclay corporate funding" and "Axis Corporate funding"
It should also be noted that obviously bulgariabtl was clearly doing business in the UK, I believe there was even a company called bulgariabtl.co.uk and Simon allso played a large part in the management of buybulgaria,
I would like to highlight this statement
You must not do any of the prohibited acts in relation to a foreign company if:
it is registered here; or
it has a sufficient connection here (for example, if it carries on business or has assets here) even if it is not registered here.
You must not do any of the prohibited acts in relation to a building society or an incorporated friendly society.
Passenger
I am wondering how Allso has managed to contravene the banned directors act of 1986 and get away with it
You must not do any of the prohibited acts in relation to a foreign company if:
it is registered here; or
it has a sufficient connection here (for example, if it carries on business or has assets here) even if it is not registered here.
I have contacted my local MP, Phillip Lee,bringing to his attention the disqualified directors act 1986, which prevents unfit directors, such as Simon Allso, from having a connection with the UK, even if the company is registered abroad.
Simon does not believe that 1.5 million pounds of sales in the UK is deemed sufficient connection.
The close links between the UK and BBTL is well documented. The authorities have already established that money was collected and distributed in the UK, under direct instructions of the banned director - ref, buybulgaria insolvency report.
Agents should note that carrying out instructions for a banned director, even if company is abroad is deemed as a criminal act.
Thanks Phil for your continual efforts just to let you no that I will be taking bbtl to court after the new year and hopefully I will be able to help you also .. I have a very reputable lawyer who is going to do whatever he can to put these fraudsters behind bars .. I'm lucky enough to have come into some money lately and my goal for 2012 is payback time .. I'v gave up in getting money back but I'm not going to give up getting these guys a jail sentence ... Watch this space guys .. I have a few nice legal tactics about to bite some ass ...mr payback
From Allso,
phil
That latest post (below) did make me laugh
Could someone really not think of a better name than 'Mr Payback'? That really is the most ridiculous name out there isn't it.
What amazes me about these 'blogs' is that there is ONLY you and ME that uses our own names!! I think that pretty much says it all about the stupidity of these blogs and the fact that anyone can write such rubbish.
The fact is that whoever wrote this is SO mad they do not even know the Court time limits on bringing actions nor have done their legal research on legal status etc. There simply is no action that can be won civil or criminal as no crime has been committed.
IF 'Mr Payback' is a real person (and not just you again Phil) then they should man (or woman) up and say who they really are as they will have to do that on any Writ issued whether here or in Bulgaria. Clearly, IF 'Mr Payback' issues proceedings against BBTL then it will have to be in Bulgaria as there is no legal status to take action here in the UK against a Bulgarian Company.
Clearly, the DTI fully investigated both Anil Kohli and my involvement in BBTL back in 2007 and found no wrongdoing as the basis for any action but found that the UK AGENT was possibly making false claims as is reported and shut them down. This had no effect on BBTL as it is a Bulgarian Company and it carried on trading with Anil running it after my heart attack in June 2007 when I left the company. I can assure you that if the DTI COULD have found some reason to prosecute me they would have done I have no doubt but like it or not (which I know you don't) absolutely everything was done 100% legally and openly.
There was no 'wrongdoing' to have action taken and the odd few people I have heard about who tried to take court action against UK agents ALL lost their cases and had costs awarded against them (correctly under UK law).
In any event I trust you, Mr Payback and Passenger all have a wonderful Xmas and New Year
mr payback has left a new comment on the post "bulgaria buy to let":
Thanks Phil for your continual efforts just to let you no that I will be taking bbtl to court after the new year and hopefully I will be able to help you also .. I have a very reputable lawyer who is going to do whatever he can to put these fraudsters behind bars .. I'm lucky enough to have come into some money lately and my goal for 2012 is payback time .. I'v gave up in getting money back but I'm not going to give up getting these guys a jail sentence ... Watch this space guys .. I have a few nice legal tactics about to bite some ass ...mr payback
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Posted by mr payback to bulgaria btl at 21 December 2011 06:25
Yours,
Simon Allso
simon@allso.net
Simon Allso MFSB
Allso
Congratulations on your 1.5 million pounds of business in the UK, and then distributing some of it amongst friends and acquantancies in the UK, lets see if this is deemed as 'sufficient connection', under the 1986 disqualified directors act, because if it is, you have committed a criminal act, and your agents should not have been taking instructions from you, even if the company is registered abroad.
the fact you are communicating makes me wonder if you are having doubts , or maybe you are just feeling lonely this christmas,
PHil.
simon
in your email (below) you talk about openess and honesty, lets see if this is true -
lets forget for a moment about land , planning permission , timescales, the non existant corporate tenants etc and focus on one aspect of the 100% finance scheme that you have not been able to satisfactorily explain, something that you need when offering 100% finance, money.
To be able to achieve the targets stated in the BBTL synopsis, 500 houses during 2006 and 1500 houses during 2007/2008 requires a massive investment, and because of the structure of the 100% finance scheme only an extremely small proportion of the finance could come from investors, via the 'allocation queue'. there was also finance needed for the gym , ikea furniture etc, described in the 100% finance scheme.
so , other than a £300,000 bank loan, what finance did the banned directors have to honour the 100% finance scheme.
remember, all the investors that joined the allocation queue were promised a house within 12 months, there was no differentiation made for investors that joined in 2005, or investors that joined in 2007,
please explain the finance,
when agents such as Steve Hodgson, Alan Forsyth, Robert Gavin, Tim Mannion were doing their 'due diligence' and finding out about how BBTL were able to offer such generous finance terms, how did you explain it ?
surely they did ask this question you about finance didnt they ? especially after you explained how you are a bankrupted convicted fraudster, disqualified twice in the UK as a director, the second time receiving the maximum ban.
after losing tens of thousands to your company, and being misled by the agent so badly , I at least deserve some kind of explanation
awaiting your reply
Phil
Mr Payback.
For your information, if, hypothetically you had grounds for a criminal case against Mr Allso (fraud is a criminal offence) then there is no time limit on taking action, only civil cases are time limited.. If it can be proved that any money from an overseas company made its way to the UK, a case can be brought to the British courts.
Having read Mr Allso's message regarding this, I would say this is a worried individual, the last thing Mr Allso needs right now is a legal investigation.
We know that the intention of Allso was never to give 200 investors 100% finance. Allso tried to use his limited knowledge of the law to deceive.
But what Allso overlooked was the disqualified directors act 1986, which prevented him from having a significant connection with the UK.
The significant connection can already be established by looking at the liquidation report for buybularia. Simon Allso is the registered director for BBTL.
It seems the proof we need is already in the public domain.
Carrying out instructions for a banned director is also a criminal offence.
Although Allso mocks my understanding of the law, and constantly tries to make out he works within the law, his well documented history tells a different story, and his recent involvement with creating a company called 'barclays corporate funding' shows how little regard he shows for the law.
Phil
You have mentioned in previous postings that money from BBTL was diverted to Mrs Allso's bank account. It might be then worth asking (legally) to investigate the sale of Simon Allso's house in Andover. This sale was in 2008 and was sold for far more that other comparable properties in the area. If for example the house was bought without a mortgage then questions should be asked. It appears the Allso's sold the house to themselves. That in its self is very odd, it might be, hypothetically be a transfer of assets or something more sinister. This was not a simple case of remortgaging but a completely new sale. It appears Mr and Mrs Allso still live at the property.
Hi Passenger
I never received the full insolvency report for buybulgaria, but what I read revealed that money was distributed amongst family and acquantancies of Allso and Kohli.
Allso described the payment as 'expense income' - not a commonly used term in the accountancy world.
I have been told that funds even went to pay for Kohlis children's school fees.
Hopefully the british government will recognise 1.6 million pounds of sales in the UK as a 'significant connection', meaning Mr Allso has committed a criminal act, punishable by imprisonment.
I consider this as signficant connection ( there was also a company set up in the UK, bulgaria btl, with Tim Mannion acting under instructions of the banned director, Simon Allso )
BuyBulgaria Limited ("BuyBulgaria") acted as the main UK agent for a Bulgarian property development company, Bulgaria BTL OOD ("BTL").
BuyBulgaria, operating from its trading premises in Fareham, Hampshire, started to promote the sale of proposed property developments in late 2005 on behalf of BTL. BuyBulgaria developed a sub-agent network, including overseas property sales agents to make direct sales to clients across the UK and Ireland. Clients paid a £5,000 joining fee in order to gain access to the proposed development scheme, in order for BTL to incorporate a company on behalf of the client in Bulgaria, in accordance with requirements for non Bulgarian citizens to undertake property purchase transactions, and to allow the client to join an allocation queue for yet to be built properties offered for sale by Bulgaria BTL.
BTL used a BuyBulgaria bank account to collect in its £5,000 fees from UK and Irish clients. In the 16 month period November 2005 to March 2007 BuyBulgaria had recorded over 350 sales, and banked over £1.6 million. By March 2007 no properties had been built for any known UK and Irish clients who had agreed to purchase homes in Bulgaria. BuyBulgaria acted as banker for BTL transferring money to a BTL bank account in Bulgaria.
If there is any justice in the world, Allso will be behind bars next christmas, and he will be personally liable for debts incurred.
Simon
This honesty and openess is not quite true is it Mr Allso. In the BBTL synopsis it clearly states that the generous finance terms were made possible by private financing.
It also states that the allocation queue would be limited so that investors would not wait more than 12 months for a house.
The 100% finance scheme was built on a foundation of lies, and your attempt to blame investors for the inevitable failure of the scheme is sickening.
Investors had every right to be suspicious of the 100% scheme. The agents selling the scheme had failed miserably to look after the interests of their investors. 18 months into the scheme, it was blatantly obvious to even the simplest of folk, that BBTL were unable to deliver any on their promises, and yet the agents continued to market the same lies.
When it was made public knowledge that the director had a history of setting up companies as vehicles for fraud, i asked for the agents help in pressurizing BBTL to provide proof of land, planning permission, finance and changing the synopsis to offer investors more realistic timescales.
It was quite disturbing that I had to tell so called property experts how to do the most basic of due diligence.
My request fell on deaf ears. At the time I was unaware of how little finance BBTL had, and that money was being distributed amongst family and acquantancies of you and Anil Kohli.
Instead the agents continued to sell the 100% finance lie to investors, helping a banned director to sell the pyramid scheme in the UK.
I am interested to know how this stands, as the 1986 disqualified directors act prevents disqualified directors from setting up businesses abroad and then continuing to do business in the UK.
Mr Allso, when I handed my money over to Steve Hodgson and Tim Mannion, your company had to complete Vladaya, build and complete petarch, and then buy land for the third developement, obtain planning permission and then build hundreds more houses.
One of your last duties as director was to issue to timescales, you quickly defended them saying BBTL had only slipped two months behind schedule.
Steve Hodgson , Tim Mannion, Anil Kohli and Robert Gavin then went on to sell another developement, again deposits lost and unaccounted for
I see that Steve Hodgson has reinvented himself again http://uk.linkedin.com/pub/stephen-adams/1b/586/882
Phil,
Did you know that Steve Hodgson offered Tim Mannion a job after seeing him "living" in the bus/train terminal in late 2009? His wife had kicked him out and his ENTIRE family wants NOTHING to do with him hence, he had no where to go! Steve/Martin then paid for his trip to the states/California in April 2010 where he lived with his Aunt and Cousin in a; trailer home. He met me and several other unsuspecting woman who he took for a ride! He put in offers to buy million dollar estates here in California with some fake Cayman Islands Bank scheme... He is now back living in the UK with his girlfriend Jax and her parents.....THEY ARE ALL A BUNCH OF LOSERS!
Steve hodgson tried to make out he was an innocent victim
dont believe a word of it, he was up to his neck in the deception.
In order to get his commission, Steve would say anything, even that the first developement was completed.
He tried to blame this on BBTL but it doesnt make sense, What person in their right mind would continue to work for a couple of fraudsters that apparantly misleads its own agents over something as fundamental as whether a developement is started or finished ?.
And then, to top it off, go and work with Kohli and Mannion again on another scam.
He later created vistaworldwide property Apparantly ,for the previous five years he had put the welfare of his investors first, only working with reputatable developers, with a proven track history
This is Steve ' I NEVER LIE' Hodgson, 'I'm more honest than the Pope Me'
After leaving the states on;
May 2nd 2010, Mannion went to Rivera Del Sol, Spain for still another SCAM to the tune of about 100,000 euros, says his ex-boss who phoned 'ME' with the news...
Mannions current girlfriend Jax had "over" 100,000 euros in savings when they met in Spain (as I was there) and now......well GOSH, according to her family.....IT'S ALL GONE TOO! I'll say it twice; ALL LOSERS!
Guess what folks Simon is up to his usual tricks again, bad boy Simon!. You should cover your tracks more carefully Mr A, you never know whos keeping an eye on you.
Hello Passenger
Any clues about what Allso has been up to ?
That reminds me, had better chase up my MP on the question of Allso setting up a company abroad, while continuing to have a 'significant connection with the UK', which is a criminal offence under the disqualified directors act 1986.
I consider 1.6 million of sales quite a connection, though Allso doesnt agree.
Since first setting up BBTL , Allso has shown why so many of his schemes end up in court, he simply doesn not have the intelligence or morals to run a successful company, instead he focuses on knowing enough about the law, so he can con people out of their money, he is basically a parasite.
http://www.insolvencydirect.bis.gov.uk/freedomofinformation/technical/TechnicalManual/Ch37-48/chapter42/part%205/PART%205.htm
Hello all, Update on Tim Ian Mannion. He has been telling everyone he is an executive with; Diamond Resorts in The UK. Well, truth be told, he HAD worked for then for a very breif period of time as a; time share sales person under the assumed name of; Ian Emes......
In the insolvency report for buybulgaria, Tim Mannion told investigators how he expected to receive 1/2 million in commission from the sale of hundreds of properties in Bulgaria.
Overlooked a few things though Timmy, like the private financing and corporate tenants, they only exist in the mind of Simon Allso.
Didn't it raise any alarm bells Mr Mannion, when you were asked to transfer money to pay for Kohli's children's private schooling , or into the account of Ingrid Allso.
At least we know that Kohli had a good time, drinking and smoking his way through our "investment" and enjoying all that Bulgaria had to offer.
Hi Phil
Sorry cant say anything right now. I think you will hear about it sooner rather than later.
another reminder to local Mp
Phillip Lee
Do you have any update on the case of Simon Allso, in light of the 1986 disqualified directors act, which prohibits disqualified directors
from continuining to have a connection with the UK.
The pyramid scheme set up by Simon Allso in Bulgaria clearly targetted UK citizens. I would like to draw your attention to
the main companies literature, which can be viewed at archive.org
http://web.archive.org/web/20051222203706/http://www.bulgariabtl.com/documents/A_BBTL_INFORMATION_PACK_07_09_05.pdf
How many Companies have been formed?
The first phase has been sold by just 1 UK based agent in about 6 weeks.
This is now the second release so the sooner you apply the earlier you secure
a property. Demand has been very high from Ex Pats, Irish and British.
The insolvency report for the main agent, shows how Tim Mannion of buybulgaria collected money on behalf of Simon Allso. The
full report shows how funds were siphoned into the accounts of families and colleagues of banned directors, Simon Allso and Anil Kohli
http://www.whitehallpages.net/news/archive/43468
i have asked Simon Allso on what grounds he offered 200 investors 100% finance, he has yet to come up with a plausible
explanation.
thankyou
Phil.
The Fraud Act 2006 (c 35) is an Act of the Parliament of the United Kingdom.
Purpose
The Act gives a statutory definition of the criminal offence of fraud, defining it in three classes - fraud by false representation, fraud by failing to disclose information, and fraud by abuse of position. It provides that a person found guilty of fraud was liable to a fine or imprisonment for up to twelve months on summary conviction (six months in Northern Ireland), or a fine or imprisonment for up to ten years on conviction on indictment. This Act largely replaces the laws relating to obtaining property by deception, obtaining a pecuniary advantage and other offences that were created under the Theft Act 1978.
"Fraud by false representation" is defined by Section 2 of the Act as a case where a person makes "any representation as to fact or law ... express or implied" which they know to be untrue or misleading.
"Fraud by failing to disclose information" is defined by Section 3 of the Act as a case where a person fails to disclose any information to a third party when they are under a legal duty to disclose such information.
"Fraud by abuse of position" is defined by Section 4 of the Act as a case where a person occupies a position where they are expected to safeguard the financial interests of another person, and abuses that position; this includes cases where the abuse consisted of an omission rather than an overt act.
In all three classes of fraud, it requires that for an offence to have occurred, the person must have acted dishonestly, and that they had to have acted with the intent of making a gain for themselves or anyone else, or inflicting a loss (or a risk of loss) on another.
Gain and loss
A "gain" or a "loss" is defined to consist only of a gain or a loss in money or property (including intangible property), but could be temporary or permanent. A "gain" could be construed as gaining by keeping their existing possessions, not just by obtaining new ones, and loss included losses of expected acquisitions, as well as losses of already-held property.
The Act will establish two "supporting" offences, these being the possession of articles for use in frauds (Section 6) and the making or supplying of articles for use in frauds (Section 7).
Obtaining services dishonestly
Section 11 of the Act makes it a statutory offence to obtain services dishonestly; meaning that services which were to be paid for were obtained with the knowledge or intention that no payment would be made. A person found guilty of this will be liable to a fine or imprisonment for up to twelve months on summary conviction (six months in Northern Ireland), or a fine or imprisonment for up to five years on conviction on indictment.
Companies and fraudulent business
In regard to the fraudulent behavior of companies, the existing offence of participating in fraudulent business carried on by a company, provided for by the Companies Act 1985, was amended by Section 10 - bringing the maximum penalty from 7 years imprisonment to 10 years - and a new offence of participating in fraudulent business carried on by a sole trader was established by Section 9.
Section 12 of the Act provides that where an offence against the Act was committed by a body corporate, but was carried out with the "consent or connivance" of any director, manager, secretary or officer of the body - or any person purporting to be such - then that person, as well as the body itself, is liable.
An important difference between this and the Theft Act is that the Fraud Act offences do not require there to have been a victim, as was the case with the Theft Act.
When I first spoke to Simon Allso, in early 2007 , I was trying to find out why Steve Hodgson had told me Vladaya was completed and Petarch was 4 months ahead of schedule, Simon Allso told me I should have spoken directly with the developer, to receive the truth.
He then told me how 100 houses would be built within 100 days, at the time I had just received an email from his secretary, stating that building work would not be commencing for at least 5 months at Petarch. When I pointed this out, Simon's reply was, "but we want to build 100 houses quickly".
After that conversation , it was clear that Simon had trouble distinguishing between fact and his own twisted dillusions.
Tim Mannion released a statement that BBTL were a few months off target of building 400 houses in Bulgaria, Meanwhile he was sending money to the accounts of Mrs Kohli and Mrs Allso.
With Tim Mannion, Simon Allso, Anil Kohli,and Steve Hodgson looking after investors interests, going to las vegas and putting all your money on the roulette table would have been a far better investment choice.
no worries, have russians wanting to buy my Bulgarian property !
perhaps Steve Hodgson could sell it for me,
Dear Philip,
my name is Vladimir Filipov. I`m solicitor based in Burgas. I do have Russians that are interested buying property in Bulgaria. If you do want to sale yours I will be happy to connect you with the Russian buyers. Please let me know whether this proposal is interesting for you.
Sincerely yours,
Vladimir Filipov
adress: Burgas, Traiko Kitanchev str. No.18, 1st fl,
Po box 8000
I know this is probably a coincidence, but there is a company in Australia, established in 1968, that distributes eyewear
http://www.allso.com.au/, apparantly OWNS and distributes the mako sunglass range.
The registrant of this company is stephen farkas of Allso International Marketing Pty Ltd, this is an international marketing company, that doesnt have a website, guess they must be quite a low key , not wanting any publicity.
http://simonallso-eyeware.blogspot.com/2009_03_01_archive.html
j
I was reading an article about the emotional , as well as financial effects felt by victims of fraud
http://www.crimes-of-persuasion.com/Victims/victims.htm
i can certainly relate to many of them
. I wonder how many families have to suffer, how many suicides, how many divorces it takes to stop Simon and Ingrid Allso, I guess the lure of a Lexus is too great.
I'm amazed that nobody has taken the law into their own hands with Mr Allso....I've followed his antics for over 20 years and he keeps on surfacing, frankly I find it incredible that someone hasn't cancelled his breathing rights long ago
Steve
Hows this for irony, the owner of the forum dedicated to openly discussing property investments, singing pig, is owned by Robert Gavin, who did his best to erase from the Internet his dealings with Simon Allso, even to the extent of threatening victims of the 1.5 million pound fraud with legal action
Robert Gavin put up fake testimonials on his website, Property Horizons, thanking him for the Bulgarian investment.
The Government are run by a bunch of muppets, they will spend millions going after Harry Rednap, for his alleged £200,000 tax fraud, but will not spend a penny going after convicted fraudster Simon Allso, for his 1.5 million fraud.
The government are aware Allso / Kohli distributed funds amongst his family and colleagues
The law clearly states that a disqualified director cannot have any dealings with the UK, even if the main company is registed abroad, but the brain dead politicians argue they dont actually apply this law if the main company is registered abroad.
Politicians and fraudsters can afford the best legal representation, but the self serving politicians cannot see that the victims of fraud are less likely to be able to afford legal representation.
To rub salt into the wound, our wonderful legal system then protects the instigators of fraud.
Allso has got away with it because the agents selling this BS were more concerned about their reputations than the welfare of their investors.
Simon Allso?
I wonder how Steve Hodgson is getting on these days, i still wonder how an 18 stone man, 6ft 8, could be intimidated by a dwarf with an 'alleged' heart condition, and chose to remain silent about the scam.
And not contented with ripping off one hundred of his customers, with a string of lies related to the Bulgarian Investment, went on to sell for Kohli and Manion again, and ripped off a load more of his clients.
Thanks Steve, or whatever you call yourself these days.
Passenger, I must admit, I struggle to understand the law. The disqualified directors act 1986, clearly states that a disqualified director can be a director of a company abroad, but cannot have any connection with the UK.
With the Bulgarian scam, Simon allso's company had lots of connections with the UK. a UK agent, all the sales were made in the UK.
When I brought this to the attention of my MP, he says they will not act if the main company is abroad.
Surely the ruling was brought in to help protect the public from fraudsters like Simon Allso, trying to escape justice, by simply registering the main company abroad, while continuing to do business is the UK.
A lot of people have suffered at the hands of Allso, and all our Justice system seem to do is protect him. Meanwhile , they spend millions on the Harry Rednap case, and who suffered as a direct action of this , nobody.
The country is run by politicians, living in their ivory towers, not understanding that legal representation maybe easy for them afford, with all there perks , easy for fraudsters to afford, but less viable for victims of these crimes.
Hello Philg93yrt
One has to examine any role played by Mrs Allso, if for example funds were being diverted from the Bulgarian operation into Mrs Allso bank in the UK and that were proved then there is a clear violation and that would land the Allso's in very hot water. It would bring any fraud (if there was a fraud) within reach of the British legal system and back onto UK soil.
On the other hand one should examine the transfer of assets that occurred when the family home in Andover was sold around the time of BBTL going down, it appeared , on paper a very strange transaction. Records are available from the land registry if anyone were interested enough to pursue this particular line of enquiry.
Please remember these are just my thoughts, they do not represent those of my employer, or do they!!!!!
The Passenger
(I ride and I ride)
Thankyou for the reply passenger.
It is known by the public interest unit, that shutdown the UK main agent, Buybulgaria, money was indeed transferred to acquantencies and family of Allso and Kohli.
Simon did not deny the allegation, in fact he justified this by calling the payment 'expense income', not a term generally used by accountants.
When I claimed expenses before, I would submit a claims form & money would go into my account,
taking money and transferring it into your retired wife's bank account doesnt seem the actions a director acting within the law.
But,the public interest unit are aware of this & did nothing.
I would appreciate any advice on what should be the next step.
I wish i was a law abiding citizen
http://www.youtube.com/watch?v=IzpwOti8XrM
Robert Gavin of property horizons is trying to delete all history of his involvement in the selling of two scam developments.
He feels he is beyond approach or accountibility, and is threatening me with defamation of character.
Robert
I have some questions for you regarding the BBTL scam.
I shall be putting the question onto video, and when people search for 'property horizons,
they will be able to watch the video and make up their own minds about the quality of your due diligence
and whether this was the greatest investment ever, as you described, or a scam, as I describe.
if you suddenly feel a change of heart, and decide that really your efforts would be better spent going after Allso
and Kohli, my door is always open.
1. Are you aware , under the disqualified directors act 1986, the developer, simon allso was prohibited from having any connection with the UK
2. The developer, simon Allso, maintains all the agents were aware of his criminal past , is this true ?
3. Bulgaria is a country rife with corruption, do you feel you did sufficient due diligence ?
4. With regard to your profit forecasts shown in the invest-in-sofia.com website , you show an annual rental yield of £37,332, over £3000
per month, for a property valued at £150,000 in year one. In your experience as a property investor, do your forecasts seem realistic ?
what is the average annual rental yield of an equivalent property in the UK, where cost of living is higher.
5. In your profit forecasts, why did you not take into consideration build time, planning permission, finance, land ownership, or do you
find these criteria irrelevant
6. When did you become aware the developer was a convicted fraudster, was it after the newspaper report?
7. What additional precautions did you take, following the revelation the developer had a history of setting up companies as vehicle
for fraud.
8. How was the developer able to offer 100% non status finance ?
9. Did you ever see any evidence of private finance ?
10. The developer took two years to obtain planning permission for 23 houses and planning permission for 80 houses was in the pipeline,
can you explain how the developer expected to build 500 houses in 2007 and 1500 houses in 2008 /2009.... or did you never ask.
11. In 2007 , BBTL released a statement saying they were 4 months behind building 400 houses, did you question this ?
12. One of Simon Allso's last acts was to release times scales, instead of investors waiting 12 months for a property shell, it would
take 14 months, in the previous 2 years, not one completed property, did you question these time scales ?
13. What evidence did you ever see of corporate clients.
14. In your estimation, how much finance would be required to fulfill current obligations, at the point you started promoting the scheme.
15. How long did you expect your clients to wait, before receiving their property, on the invest-in-sofia.com website, you said
500 sales had been made in a few weeks, so the developer had quite a big commitment already. You expected your properties to be
built quickly ????
16. Do you feel my critisism of your due diligence or the investment is unjust,
17. Do you feel sales people should be accountable for the sales copy on their website ?
18. How many of your investors lost money
19. Why did you refuse to take part in a class action against Allso and Kohli
20. Are you ready to publicly call this a scam, or do you still need more evidence ?
21. Can you think of any lawful reason why simon Allso would transfer investors money into his wifes account.
22. Why were you still promoting the BBTL investment on your website in 2008.
23. Following the loses of your investors, why did you go into business with Kohli and Mannion again ?
24 Did you find out what happened to Investors money with the Indian Development
25. How would you describe your relationship with Kohli, Allso or Mannion ?
26. Did you work with agents & investors to try and resolve the many issues affecting the bulgarian development
27. You feel that my posting of articles is criminal. I would argue that my articles are a lot more factual than what I read
on your invest-in-sofia.com website, do you still feel the same way.
28. You have suggested in recent correspondance, that my actions are criminal and there will soon be laws to stop this
With regard to the article in question, can you show which parts are not factually correct ?
You do not like my use of the word scam, this is your description, copied and pasted from the invest-in-sofia website, what do you
believe is more in line with the facts ?
How to make the greatest property investment ever with minimum effort!
philg93yrt Stick to the facts and you are free to publish as much information as you wish (even under the proposed new legislation).
People that think they can silence an individual with the threat of legal action are often guilty of harassment and can find them selves in the dock instead, ironic!.
As I say, stick to the facts and you will be just fine.
In the past, Robert threatened us with legal action, we removed the posts and then asked for an apology, for failing his clients by not doing even the most basic of due diligence, he refused.
His actual due diligence was a complete joke, it was completely void of any real substance.
http://web.archive.org/web/20070103095732/http://www.invest-in-sofia.com/
Robert repeatedly shows no accountability for his actions,
and only ever talked of his own financial loses and he continued to promote the investment, despite overwhelming evidence this was a scam.
We read on his website about his stringent due diligence, meanwhile he is using bully boy tactics, so that he can sweep the bulgaria btl and indian investment under the carpet.
Dear Mr. George,
I am writing to hereby serve notice of our intention to start legal proceedings against yourself, amongst other parties for libel and defamation and loss of income as a consequence of this.
Website that two years ago you created in a deliberate attempt to defame both myself and my company and to inflict damage to both my reputation, that of my company and to inflict financial loss:
http://robertgavinzpy.blog.com/2010/06/17/robert-gavin-of-property-horizons-sells-property-investment-scam-shocker/
Whilst you have chosen to ignore previous communication, we have now decided to instruct a top London legal firm to represent us in this matter to issue a cease and desist on you and to sue you for financial and reputational damages that your libel and defamation has caused.
Having reviewed our large file of evidence on this matter, they are of the opinion that we have a very strong case and will be shortly confirm an accurate amount of damages that we will be suing for, but have recommended in the region of £150,000 to £250,000 to begin with.
Your only option to avoid this would be to remove the posts / blogs and forums you have created by 5pm this Thursday 12th July and provide documentary evidence that this has occurred.
Failure to do so will result in us initiating legal proceeding against you as well as making it known about your mortgage fraudulent past as well as further evidence in court.
The loss of income your libel and defamation is causing us is far more than the legal costs and effort in pursuing this and if need be we would be more than agreeable to bankrupting you and seizing any and all assets to ensure our damages claim is satisfied.
The choice is yours.
Robert believes that if anyone dare critisize his due diligence, then they are commiting a crime, and that post can immediately removed. meanwhile , he shows accountability for for the content on his sales page because his says its up to clients to do their own due diligence.
Phil
You continue to threaten to us drop legal action otherwise you will spread more defamatory information about us when we have already told you that we will only drop the legal action if you remove what you have already put on the internet about us. Therefore the choice for us to proceed on legal action is entirely up to you.
Re: bankruptcy , we have been advised that we will have a claim of any income that you will be earning in the future from your job / other income so this would mean a portion of your income for the long term until the damages are paid.
There is also legislation coming out specifically to target online defamation as well which will only aid us to combating your threats.
We will also be looking to issue a retraining order which means that if this is violated that this would be considered a criminal offence and carry a possible prison sentence – this can be confirmed by your legal representatives.
As per the previous email we need that blog or post removed by 5pm today otherwise we will be proceed as above an dif you choose to continue with your threats then we will prosecute any site that contains your material who would then also look to take legal action against you to reclaim the loss that you have caused them.
Thanks
Oh robert
I did not say I would be spreading defamatory information, I said I would be spreading factual information
I find it absurd that you think that putting up deceptive information , eg http://web.archive.org/web/20070401152925/http://www.invest-in-sofia.com/ is lawful and acceptable , while posting factual information is illegal.
Your deceptive information lead to clients, such as Andy, losing money. If you had done your job properly, and passed
on truthful, accurate information, Andy would have not lost his hard earned money, because he would have never invested.
when you do your detailed and thorough due diligence, what does it take before you deem an investment high risk ?
when people are bankrupted, the slate is wipe cleaned. I think you are getting desperate robert.
It has been noted that you have yet been able to remove the post that you say has caused you £150,000 to
£250,000 in loses. You say that you have the power to do this, if this is the case, why have you not removed
this post.
Do you think you are above accountability Robert, do you feel that you can have information removed just because
you dont like it, regardless if it is truthful or not
Phil
philg93yrt
That is such a disgusting and threatening letter that you should show it to the police, it is far from legal.
That is not a legally termed document, it is pure intimidation. In-fact it has all the hallmarks of an Allso threat. I would go as far as to say it was probably written by the Simon Allso.
Do not be intimidated, this is just a hollow threat made by stupid people, If you stick to the facts they can not touch you.
The Passenger
Thank you passenger.
I believe Robert Gavin has got off quite lightly so far.
I tried to get the agents selling this scheme to see the obvious warning signs through 2007, instead of helping the victims of this scam, they focused on threatening people that dared speak out, or in the case of Alan Forsyth, lost the ability to talk.
i will not be intimidated by Robert Gavin. I have listened to similar threats from Allso and Steve Hodgson
this is my reply
Robert,
I want you to publicly admit that your due diligence for the bulgariabtl was negligant
and during 2007, you failed to act on the huge amount of evidence that the bulgaria
btl investment was a scam.
It doesn't take much initiative to determine that a formly bankrupted, convicted fraudster,with no
experience of property investment, who had no right to have any connection with the UK
cannot lawfully offer 100% finance to hundreds of investors, and promise to build them a house in a year.
If you cannot recognise this , then you should not be in the position of advising people
how to invest their money, and you certainly have no right telling investors of your in depth
research and due diligence.
Not only did you fail to recognise this as a pyramid scheme at the beginning, as 2007 progressed
you ignored newspaper reports, the questions being asked on YOUR forum thread, the shutting
down of the main agent in the UK by the public interest unit , the impossible timescales,
the increasingly pyshcotic, threatening behaviour of the diluded director, simon allso on public forums.
The public interest unit were concerned that the banned directors, anil Kohli and Simon Allso,
were transferring money into their family and colleagues accounts, obviously still not reason enough
for you to stop selling this disgusting scam.
So Robert Gavin, you believe the law is changing, what will this mean, that people such as yourself, steve Hodgson
Simon Allso, Anil Kohli. and alan forsyth will be able to promote your ludicrous investments, without
investors being able to respond in a negative way, or comment on your poor customer service?.
I think you will find the information on the bulgariabtl.blogspot far more factual and relevant than the shite
on the bulgariabtl, ajpropertyeurope, invest-in-sofia websites. Was was you hoping, if you sold tens of thousands of
100% finance deposits, there would have been enough finance to complete Vladaya, because thats what
was needed.
If this wasnt enough, you then went into partnership with Mannion and Kohli again, trying to sell another
doomed investment.
And now you are trying to hush this up with your disgusting legal threats. You threatened the wrong
person Robert.
I will give you an opportunity to come clean, admit all your poor errors of judgement, and then use
your legal team to go after the people responsible for this mess.
The former owner of the singing pig trying to cover up his exploits with known criminals, by threatening
victims of the crime, wont look good for you Robert.
Phil
philg93yrt
Here, here. Well said, a prefect letter, proud of you.
Passenger
thankyou,
Robert Gavin removed this testimonial, after I questioned its authenticity. But it can still be seen on archive.org,
Have a look at the testimonial by Rita black of Scunthorpe, commenting on her Bulgarian investment
http://web.archive.org/web/20080227145339/http://www.propertyhorizons.co.uk/testimonials.html
Looking at Robert Gavins email signature, his company has prospered, despite a loss of confidence in property investment.
75,000 clients. Wow, with that many clients, I am surprised the Internet is not bursting with positive testimonials for property horizons.
Property Horizons: unique investments, worldwide.
Offices on two continents | 75,000 clients from 53 countires
...How we can help you...?
Robert
you must be aware that I have so much material
to work with to make you look a complete fool, combined with
a good understanding of the Internet.
withdraw your legal threat immediately and apologise, otherwise
I will feel compelled to bring more attention to the great risk you
exposed your investors to. Your actions only signal to me that
you have learned nothing over the past five years.
You continued to ignore every principal of property investment
your in depth due diligence and research failed to uncover
the developer was a criminal, with not even the resources to
complete a single house. I am not sure you even considered
timescales, or BBTL's current commitments.
Allso's only excuse is that BBTL were using money to protect
the reputation of BBTL.
If Allso feels that the courts unfairly imprisoned him for fraud
i do not share his belief that my children's inheritance should be used
to clear his name. It is up to Ingrid and Simon to use their own
money to fight their own legal battles.
Are you really surprised that people were not writing favourably about
you when you continued to sell this scam, without doing even
the most basic research. Are you really surprised that people
become suspicious when you refused to publicly speak out, or that
you did not paint a truthful, accurate picture of this investment.
When you try to use the Internet to position yourself as an expert,
you cannot run away from the responsibililty that brings with it.
here's a tip
If you want to repair your reputation, you only need a tiny
percentage of your alleged 75,000 clients to flood the Internet with
positive testimonials, this will largely offset negative comments.
Create video testimonials, and then distribute them around
video sharing sites. You will see the negative comments
pushed down the rankings. That is , if you do it correctly.
you could try Allso's method, of flooding the Internet with empty
blogs, but not really effective, just makes you look
even more incompetant.
Of course, that will require you having a small percentage of
genuinely happy clients.
and in future, if you tell clients you do in depth research,
then do in depth research, will save you a lot of money in the long run and makes
you look the professional you say you are.
Phil.
Robert Gavin claims that Philg93yrt has cost him £150.000 -£250.000. I dont think so.
Have a look at his accounts.
http://companycheck.co.uk/company/06487793
75000 clients in 53 countries. ( according to the email signature )
Actually, according to the website, a client base of over 100,000.
I wonder what actually constitutes being a client ?
Looking at the deals in May 2008, we still see the Bulgarian Investment and the Indian investment.
http://web.archive.org/web/20080422205702/http://www.propertyhorizons.co.uk/india.html
3- Personal involvement
We invest in every property investment that we offer. How often does this happen with other companies?
This means that you can be sure that every property investment we offer has been put through the most stringent and detailed due diligence research - we never risk our own money otherwise.
“If you make customers unhappy in the physical world, they might each tell 6 friends. If you make customers unhappy on the Internet, they can each tell 6,000 friends” – Jeff Bezos, CEO, Amazon
Passenger, you are obviously much more educated then myself, perhaps you have your own thoughts ?, am I naive, or stupid, believing that an agent with an ounce of credibility would have looked at the BBTL investment, looked at the history of the directors, the resources, the timescales etc, and then dismissed it immediately.
And are investors acting criminally when raise concerns about the selling of this 'investment', when they question the in depth research and due diligence, when they become suspicious, when the agents partner
with the same criminals again, to sell another dubious investment.
Was it unreasonable for investors, to ask help from all the agents in establishing facts from fiction,
especially when we could see there was such huge descrepancies between information on their websites, and what we could actually see with our own eyes.
Was it OK , for the agents to bury their heads in the sand, and not even question the insane updates coming from BBTL, while letting the director abuse anyone that dare speak up.
I found it sickening, and to see the BBTL investment and Indian investment, still on the property horizons website in May 2008, just added insult to injury
One can be criminally negligent, especially in the context of running a company, also an individual or company could be complicitous in a fraud or deception. The motive is clear, profit. People/companies do make honest mistakes but errors of judgement can lead to disastrous events as we have seen with the BBTL scandal.
Having looked at the Property Horizons accounts it is obvious the company has never declared a profit, strange considering the amount of customers they claim to have served. This might just be a small company trying to appear more successful than it actually is.
When a company is dealing with and investing other peoples money, it is obvious that they check any investments carefully as well as looking closely at the people they work with.
Having not looked into Simon Allso's previous business dealings is unforgivable and certainly negligent, after all there are countless reference on the net into his character and evidence of his criminal past.
This does need a legal investigation to see if there was any collusion.
The Passenger
Thank you passenger, my thoughts entirely, but much more eloquently written.
Apparantly the Milton Keynes police are trying to contact me. The officer in question is on night shift, so have not been able to clarify what he wants to talk about, but I have an idea.
I wonder how the officer would feel if a surgeon ,acting with the same degree of degree professionalism ,operated on a member of his family, and then operated on a second member of his family.
Would he feel obliged to warn other members of the public, to prevent the same mistakes being made, or would he feel obliged to protect the reputation of the surgeon, because defamation of character would be the real crime here.
Can I just clarify
should the profits from the sale of say 350 million pounds of property show up in the company accounts.
If agents wish to persue me for defamation of character, any idea what legal assistance am I entitled to?
If the investment was put under scrutiny of the public eye, I wonder if the general public would look favourbaly on the agents that sold this 'low risk , well researched investment' and then went on to sell another 'low risk, well researched investment', with some of the same trustworthy characters.
I mentioned to Steve Hodgson, this story reminds me of the Emporer's new clothes.
If the Police want to talk to you that is because someone has made a claim about you, the Police have a duty to follow this up, even if it a waste of time, an allegation has to be followed through.
As long as you have not made any threats you will be ok, you can still pass comment and opinion legally and no one can or will stop you.
Defamation is a mostly civil matter and would cost tens of thousands of pounds for anyone wishing to bring a case before the Courts. Any fact you have published would need to be proven to be false before any action could be taken against you, I would assume this would be impossible.
You are entitled I assume to legal aid to defend yourself.
I think the person involved is trying to intimidate you, this is not a matter necessarily for the Police, he can not , presumably afford to bring a private action against you, so this is using the police.
Keep your head, stick to the facts and don't be worried, please let me know what happens.
The Passenger
n the English law of tort, professional negligence is a subset of the general rules on negligence to cover the situation in which the defendant has represented him or herself as having more than average skills and abilities. The usual rules rely on establishing that a duty of care is owed by the defendant to the claimant, and that the defendant is in breach of that duty. The standard test of breach is whether the defendant has matched the abilities of a reasonable person. But, by virtue of the services they offer and supply, professional people hold themselves out as having more than average abilities. This specialised set of rules determines the standards against which to measure the legal quality of the services actually delivered by those who claim to be among the best in their fields of expertise.
So, a person that establishes themselves as a professional, has a duty of care to their customer.
Was that duty of care violated in the case of the BBTL investment.
Were these 'professionals' really acting in the best interests of their clients when they encouraged them to sign a contract that was shown to have absolutely no legal binding
Could the BBTL investment really be described as low risk and well researched, or had the 'professionals' not performed the expected due diligence, which they regularly describe in articles and on their website.
Were agents concerned about their lack of due care and attention and possibly even professional negligence becoming public knowledge, opening them up to legal claims ?
I am not a professional lawyer, this is just my amateur interpretation of the law.
Hi Passenger
I just spoke to the officer at Milton Keynes. Apparently I have been sending text messages and voice mails to 'the accuser', this is news to me. I suggested that this needs to be further investigated, because i have never sent him a text or voice mail.
He is looking to get an injunction, and if I write any blogs, I could be arrested.
I told the officer that I felt all the agents selling this had neglected their legal obligation of due care to their clients, at every stage of this investment, and are now using the law to cover up their negligence.
Phil93yrt
Here is some info.
Does the defendant have a valid defence?
When faced with a defamation claim, a defendant may defend on the basis thatthe statement was:
justified;
fair comment; and/or
privileged.
To establish the statement was justified , thedefendant must show that it was true or at least substantially true. (NB. When aclaimant brings an action for defamation, the court begins with the presumptionthat the claimant had a good reputation and that the statement injuring his/herreputation is false, thus putting the onus on the defendant to prove it istrue.)
Fair Comment is a defence that, in effect, protectsthe right of free expression. It means that if the statement in question is thedefendant's honestly held opinion on a matter of public interest, and if thedefendant did not make the statement maliciously, then it is not actionable. Forinstance, a well-reasoned opinion article in a newspaper, in which the authorconcludes that a politician has been dishonest or incompetent in some respect,is unlikely to give the politician grounds for a defamation claim.
Privilege is a defence that comes in two forms.Some statements are absolutely privileged , so thatthey are not actionable even if they would otherwise be defamatory. Statementsthat people make during judicial proceedings, as well as statements that peoplemake in Parliamentary proceedings, are absolutely privileged. The privilegeapplies even if the person making the statement does so maliciously.
Qualified privilege applies to statements thatpeople make out of some legal, moral or social duty. Qualified privilege doesnot, however, apply if the person makes the statement out of malice. Forexample, a person reporting someone to the police will not be liable fordefamation unless he/she does so in bad faith and primarily to injure someone'sreputation or otherwise harass or annoy them.
thank you passenger.
If anybody wishes to persue me for defamation, my main defense would be that if a person uses the internet to establish themselves as a professional, they have a legal and moral obligation to live up to the standards they so strongly defend.
I would challenge Simon Allso or any of his cronies selling this scam, to have a real professional look at the data that should have been made available to them in 2006 /2007 , and come to the conclusion that this could have ever been a viable investment.
Every aspect of this venture screamed "your client will never, ever see their money again"
My observations led me to believe, the agents were far more concerned about their negligence becoming public knowledge, then in helping
their clients retrieve their investment.
Simon allso and kohli will get there day !
Kohli and Allso have got away with this scam, simple as that.
Hey passenger,
I would be interested to know who you are and your interest in this case.
I still struggle to understand how Simon Allso was allowed to have a connection with the UK, as a disqualified director, and why the authorities did not persue this matter further.
As the law stands, by simply registering a company abroad, the disqualified actor can continue with the same unethical business practices that got them banned in the first place.
Hello philg93yrt
You would like to know about me, well what can I say. I would like to tell you but I cant. I am do being difficult, its just a policy of the good folks I work for, sorry. How did you get on with the Police??.
As Mark Twain rightly said.
Anger is an acid that can do more harm to the vessel in which it is stored than to anything on which it is poured.
Lenark’s directors assured Colin Bateman and Paul Smith that they would fund the relocation. On 1st July 2000, two non-executive directors were appointed to the Sturmey-Archer board but with little day-to-day involvement. In both July and August, Sturmey-Archer paid its new parent company, Lenark, £60,000 in management fees. Sturmey-Archer also paid £52,000 to another Lenark Group company, Hawson Limited. According to the liquidator’s report, Simon Allso persuaded Mary Waring, one of the new non-executive executors to authorise this payment, advising her that Sturmey-Archer directors Bateman and Smith had approved it. They had not and were not even aware of the transaction. It later emerged that Simon Allso, a former bankrupt, had previously been involved in a large number of business failures in southern England and had been imprisoned for fraud.
Passenger, I have it on good authority that Simon Allso never does anything illegal, I just read his linkedin page
http://uk.linkedin.com/pub/simon-allso/11/987/15
WHAT I DO NOT DO:
Be involved in the Management of any UK Business in any way whatsoever.
Be involved with anything remotely illegal
Strangely enough, Robert Gavin decided not to persue his legal case against me.
Perhaps its just me, but when I see so called professionals , receive cash to promote a pyramid / ponzi scheme, managed by a criminal with documented history of fraud, in a foreign country ,without even doing the most basic of due diligence, at best, I can say they are all guilty of professional negligence.
but, maybe thats just me.
I can feel that acid again burning in my stomach, what did mark twain say again ?
Any updates on
Simon Allso
Anil Kohli
Tim Mannion
Steve Hodgson
just been reading this again
You and some "close asset" financing stripped many good companies in the 70's and 80's. A good friend of mine commited suicide after your firm raped his and he lost everything he'd ever worked for. You may think that your actions are victimless crimes but there are real victims here. OK so they are gullible and greedy and you pray on that, it hardly makes a you a saint. Your record, as that of J's and to a lesser degree I's, displays a callous disregard for people.
I understand that Simon is a very busy little chap at the moment. I am reliably informed his latest venture is a mess, we should be reading all about it soon I hope.
Hi Passenger
Please keep us posted.
Do you have a lust for life ?
Any updates on Allso's exploits.
Mr Allso displays acute
a strong paranoid ideation, if you consider this with his hatred for anyone daring to disbelieves him or questions him, his arrogant assumption that he is too clever to be caught and his obvious psychopathic character and we have a very disturbed individual.
It is obvious that he really does enjoy your pain, he takes great satisfaction from trying to further his control over you.
Mr Allso here are a few observations based upon your use of language and phrase your psychological mannerisms (a great give away)
and general behavior towards others.
I would assume that you are of a low academic intelligence and probably did not have a close relationship with your parents, you might in fact be adopted. I suspect that you have a very low sexual drive, perhaps even impotent. You do not socialize well and have deep seated feelings of inadequacy.
You do not suffer any guilt towards your victims and regard anyone you are able to cheat as being weak and therefore a legitimate target.
Simon is working his fingers to the bone creating bogus blogs in a futile attempt to dilute the amount of negative internet references about him and his less than honest past and rapidly disintegrating ability to sell his services to an unsuspecting public. What a waste of his time.
Well, we can see what the little asset stripper managed to achieve with 1.5 million of our money in Bulgaria and a £300,000 bank loand, a building site , with a value of less than £50,000.
Two years into the project, Allso concluded that he could legitimately continue to promise a house in 12 months, by using his build 10 houses a week theory, its not hard to see why so many of his ventures end up in the bankruptcy courts.
Allso was allowed to get away with ripping off 200 investors, because the agents, such as Steve hodgson, Robert Gavin, Alan Forsyth and Tim Mannion were more interested in covering up their gross negligence, than helping investors seek justice,
well, unless they had more sinister reason for protecting Allso.
According to robert gavin's website, even knightfrank cannot fault his due diligence,
Do you think that knightfrank would have recommended investors to invest with a pennyless banned director, with a history of setting up companies as vehicles for fraud, in a country rife with corruption, that relied on him building 10 houses a week, while overlooking that allso had failed to build one property in two years.
Steve hodgson, if you are reading this, you never did account for why you told me the first development was completed and the second for months ahead of schedule, or why you lied about investing in 4 properties, or why you went into partnership with kohli .... again.
I have just been reading about Robert Gavin of property horizons, who set up invest-in-sofia, and helped serial fraudster, Simon Allso, sell a development which promised to build thousands of properties, despite not having the resources to complete one property.
It later emerged money was being siphoned to families and friends of Allso and Kohli.
Robert brings a rigorous and analytical mind-set to the business which is focused on his strong ethos of delivering ethical, highly lucrative and secure investments to those looking to achieve financial security in these turbulent times.
Robert is often mentioned in the media with his insights into the world of real estate and investments and his opinion is respected by many journalists worldwide and he has acted as an executive consultant to sovereign wealth funds with various governments.
I was reading some comments regarding another property investment :
The agent owed you a duty of care. An action for negligence may be possible if the agent breached that duty of care and then that there was reasonably foreseeable damage was caused by the breach of duty.
You'll need to prove breach. That should not be too hard to do as I doubt that they will have carried out much, if any, due diligence.
If you relied on promises/assurances given by the agent, do you have documentation to support this? This will help in showing whether the agent breached the duty of care.
Whether it is worth pursuing is another matter. Does the agent have assets of sufficient quantity that he/she could meet any claim for damages? In other words, are they worth powder and shot?
As an aside, if Harlequin made any representations, and those have proved to be false, there may be grounds for having the contracts rescinded under s 2 Misrepresentation Act 1967.
I'd strongly recommend that you take proper legal advice.
Read more: http://harlequininvestors.boards.net/index.cgi?board=iusedmysipptoinvest&action=display&thread=12#ixzz2PxXqXCkK
A good link
https://pipl.com/directory/name/Allso/Simon/
is this how Simon Allso looks these days, looks like he is a man of god ?
http://name-list.net/img/images.php/Allso_3.jpg
With V P Associates extensive experience and buy-to-let property tax expertise we assist our clients through the various tax liabilities they come across as they buy, sell or rent out the buy-to-let property (BTL). These may be Stamp Duty Land Tax, Income Tax, Capital Gains Tax (CGT) and Inheritance Tax.
The European arrest warrant has become accepted in the UK, so in theory a UK national could be investigated by the police of a nation state, for example Bulgaria and extradited if there is enough evidence for a conviction. Interesting.
Yours
Stoyan Minkov
If you are curious about simons house, well is is selling up and here it is. http://www.grahamco.co.uk/SearchPropertyDetails.aspx?propid=NGA2199&propertyNum=63&SearchData=v7|10|0|100000|0|99999998|0|0|3|3|1|1|1|sp10|43610:14589:10:_|2|8|0|2|1||2||||195|0:2147483647:0|0|1|2|::&propertyNumOnPage=3
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