Ponzi Scheme Managed Account Question - Courtenay House Trading Group

[correybeams2207]

Hi Studentessa,

Please email me at correybeamstravel@gmail.com.

I will email you his name, contact number and email address.

I have just left a VM with him.

Regards
CB

 

[GCG21]

I know that 'investors' were offered commissions to get other 'investors' into the erm.....'investment' as is the way with most Ponzi schemes. Seems wrong that they should walk away with more of later 'investors' money

I wish I knew that before I got in....that smells of dirty business....but my investigations didn't reveal that...more fill me.

 

[Toldyaso]

Not uncommon for a Ponzi I'm afraid, what better way to get willing 'investors' in than a recommendation from someone they would trust.

 

[GCG21]

Can we all get together at some place and discuss some form of attack? I live on the Northern beaches and am willing to offer my place for a meeting or perhaps we can go to some convenient RSL club. How many people are interested?

I'm on the Northern Beaches as well and would love to meet up to discuss what can be done legally to get the most back. I keep pinching myself and realising I'm not in a dream.

 

[studentessa]

I'm on the Northern Beaches as well and would love to meet up to discuss what can be done legally to get the most back. I keep pinching myself and realising I'm not in a dream.

email me and I will give you my contact info.

 

[studentessa]

By the way I have just been informed by Grant Thornton that all the directors' assets have been frozen.

 

[Septemberrain]

By the way I have just been informed by Grant Thornton that all the directors' assets have been frozen.

Hi studentessa,

Was this before he tried selling the property or after? Or was the information given by some previous posts not right?

 

[studentessa]

Today

The directors assets are all currently frozen as part of the on-going court action between the Companies, related parties (including the directors) and ASIC.


The Liquidators are continuing to investigate all aspects of the affairs of the Companies and will take action as appropriate. We cannot provide any further advice so not to prejudice our investigations/actions.


Regards


Lisa


Lisa Gibb

Senior Manager - Financial Advisory


grantthornton.com.au

 

[BRST4]

Hi, I am a new member to this forum & as a concerned investor of CHCTG I have been reading all the posts & comments on this forum page since this nightmare occurred. I was so upset at first after receiving the email from the liquidators on Friday that I contacted Grant Thornton today & had a chat to them & they told me that it is still early days in the investigation & that the 50 million dollars that has been found is what has been found at present but they still have a lot of documentation/accounts to review & calculate which is why they will be emailing clients with updates of new findings. I have been a client for almost 4 years with a substantial amount invested & I never had a problem with CHCTG & I find it hard to believe that a Ponzi scheme would last this long if it was one. I have spoken to my solicitor & he has said that it is to early into the enquiry to make any assumptions & to be patient & allow the liquidators to do there job. I guess all we can hope for is that throughout this process we end up with a good outcome.

 

[correybeams2207]

Hi BRST4,

Welcome aboard and thanks for the update and like you said we all need to be patient.

I believe everyone is allowing the Liquidators to do their job but some people are in a more precarious position than others and hence assumptions or criticisms however valid they may or may not be will always occur.

Fingers crossed indeed for all concerned and this may be the new standard with what the liquidator has said "the hallmarks of a Ponzi scheme".

As for the duration of the CH/CHCTG and its legitimacy as a business because of it, as was pointed out to me, some schemes have lasted 1 year and others upwards of 20 years.

"Remember time is money (thanks Ben)" and it looks like CH/CHCTG where doing this for a long time and acquired large sums of money in that span of time...the fact that some remains is a "saving grace" and that is fantastic but these people, the ringmaster and the rest of his circus need to be looked at under the greatest of microscopes for they perpetuated a great myth in that they presented themselves essentially as something that they were not.

As I read somewhere recently "Lies cannot succeed without some perception of honesty"

Hell my Accountant showed me in my trading "agreement" that they couldn't even get their own ABN right.

All that aside, stay strong and let's help keep each other informed as best we can.

Regards,

CB