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Friday, 1 October 2010
Estate agency
Meeting arranged with local agent to discuss demand and pricing is Pissouri area for this Sunday.
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Gresham update
Gresham Ltd and Gresham Finance
The Serious Fraud Office is investigating the company operating as Gresham Ltd and Gresham Finance (London) Ltd (see note 1). This investigation arose from complaints made by victims to the local Police and the Serious Fraud Office.
The company offered commercial loans of up to £250 million, promoting their services by advertising in newspapers, magazines and on the internet.
Applicants for loans were charged between five and fifty thousand pounds for a due diligence check. Once an applicant had paid the due diligence fee they were then asked for a next-stage payment (a security deposit). This would be set at between 1% and 5% of the loan amount. After receiving the payment, the person progressing the application on behalf of Gresham Ltd or a linked company, becomes unavailable or ceased to trade, leading the victim to lose the money they had paid.
The same suspects were also involved in a retail property renting business operating as Gresham Ltd, Park Regent Ltd and Castlereagh London Ltd (see note 2). The suspects used a complex number of company names in their business dealings, including the following: 45 Oxford St Ltd, Renaissance Trust, Cutting and Company (Investments) Limited, Paul Street Media Limited and Alliance Trust (see note 3).
The location of potential victims are believed to be in Austria, Turkey, Cyprus, Bulgaria, Italy, Romania, Dubai and others. The estimated value of the suspected fraud identified so far is approximately £12M.
SFO Appeal
The SFO would like to hear from anyone who believes that they might have information useful to the investigation. The number to call is 0207 239 7079
Notes
1. Gresham Finance (London) Ltd is not to be confused with Gresham Finance Ltd, which is an unconnected company and not under investigation.
2. Castlereagh London Ltd is not to be confused with Castlereagh Ltd of Dublin,, which is an unconnected company and not under investigation.
3. Alliance Trust is not to be confused with Alliance Trust PLC, the FTSE 100 investment trust, which is an unconnected company and not under investigation.
Updates (29/03/2010)
03/12/2009
Search warrants were executed at nineteen addresses in London, Surrey, Cheshire and Derbyshire in a mixture of commercial and residential properties. The SFO were working in conjunction with the City of London Police, the Derbyshire Constabulary and the Cheshire Police.
Five men and one woman were arrested and three appeared at the City of London Magistrates Court..
Three were charged with conspiracy to defraud, deception and money laundering offences. They were:
Edward Ormus Sharington Davenport [dob 11 July 1966]
Martin Peter Riley [dob 1 January 1947]
David Martin Layard Horsfall [dob 9 August 1955]
12/12/2009
David McHugh (dob 11/02/57) charged with Conspiracy to obtain property by deception at Horseferry Road Magistrates Court
26/01/2010
Richard Stephens (formally known as Richard Kirkup) of Little Barn, High St, Calver Derbyshire appeared at the City of London Magistrates charged with conspiracy offences and was remanded in custody.
19/03/2010
Plea and Case Management Hearing at Southwark Crown Court for Edward Ormus Sharington Davenport, Martin Peter Riley, David McHugh and Richard Stephens/Kirkup.
31/03/2010
Davenport, Riley and Stephens/Kirkup were granted conditional bail, McHugh remains in custody.
Trial Date
17 Jan 2011 at Southwark Crown Court
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The Serious Fraud Office is investigating the company operating as Gresham Ltd and Gresham Finance (London) Ltd (see note 1). This investigation arose from complaints made by victims to the local Police and the Serious Fraud Office.
The company offered commercial loans of up to £250 million, promoting their services by advertising in newspapers, magazines and on the internet.
Applicants for loans were charged between five and fifty thousand pounds for a due diligence check. Once an applicant had paid the due diligence fee they were then asked for a next-stage payment (a security deposit). This would be set at between 1% and 5% of the loan amount. After receiving the payment, the person progressing the application on behalf of Gresham Ltd or a linked company, becomes unavailable or ceased to trade, leading the victim to lose the money they had paid.
The same suspects were also involved in a retail property renting business operating as Gresham Ltd, Park Regent Ltd and Castlereagh London Ltd (see note 2). The suspects used a complex number of company names in their business dealings, including the following: 45 Oxford St Ltd, Renaissance Trust, Cutting and Company (Investments) Limited, Paul Street Media Limited and Alliance Trust (see note 3).
The location of potential victims are believed to be in Austria, Turkey, Cyprus, Bulgaria, Italy, Romania, Dubai and others. The estimated value of the suspected fraud identified so far is approximately £12M.
SFO Appeal
The SFO would like to hear from anyone who believes that they might have information useful to the investigation. The number to call is 0207 239 7079
Notes
1. Gresham Finance (London) Ltd is not to be confused with Gresham Finance Ltd, which is an unconnected company and not under investigation.
2. Castlereagh London Ltd is not to be confused with Castlereagh Ltd of Dublin,, which is an unconnected company and not under investigation.
3. Alliance Trust is not to be confused with Alliance Trust PLC, the FTSE 100 investment trust, which is an unconnected company and not under investigation.
Updates (29/03/2010)
03/12/2009
Search warrants were executed at nineteen addresses in London, Surrey, Cheshire and Derbyshire in a mixture of commercial and residential properties. The SFO were working in conjunction with the City of London Police, the Derbyshire Constabulary and the Cheshire Police.
Five men and one woman were arrested and three appeared at the City of London Magistrates Court..
Three were charged with conspiracy to defraud, deception and money laundering offences. They were:
Edward Ormus Sharington Davenport [dob 11 July 1966]
Martin Peter Riley [dob 1 January 1947]
David Martin Layard Horsfall [dob 9 August 1955]
12/12/2009
David McHugh (dob 11/02/57) charged with Conspiracy to obtain property by deception at Horseferry Road Magistrates Court
26/01/2010
Richard Stephens (formally known as Richard Kirkup) of Little Barn, High St, Calver Derbyshire appeared at the City of London Magistrates charged with conspiracy offences and was remanded in custody.
19/03/2010
Plea and Case Management Hearing at Southwark Crown Court for Edward Ormus Sharington Davenport, Martin Peter Riley, David McHugh and Richard Stephens/Kirkup.
31/03/2010
Davenport, Riley and Stephens/Kirkup were granted conditional bail, McHugh remains in custody.
Trial Date
17 Jan 2011 at Southwark Crown Court
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Thursday, 30 September 2010
Tochni Movie
Movie showing new property built opposite development land, road that has now been publicly registered with power and around to adjoining plot.
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- Posted using BlogPress from my iPad
Location:E701,Peyia,Cyprus
Sales team update
Update from MPG Sales Team as follows:
Michael,
I hope you are keeping well – just to keep you up to speed on where the Cyprus & Bulgaria projects are at.
1) August was very quiet, as it usually is, which is why I have not reported too much back. However things are now moving forward well.
2) In terms of the Russian targets for Pissouri, I’m looking to take this to the stage of meeting 2/3 potentials in the next three weeks – Are you happy for me to go ahead and set up the meetings or are there any dates to avoid?
3) On a more immediate note, there is some interest being shown in Pissouri by Investment Suisse. They have a private equity fund as well as a private banking and credit underwriting arm; the private equity fund is looking to arrange deals around the $10m mark. Based on the initial information that I provided, they think that this might be something they would like to participate in, and have requested that I supply further details for their team to consider. However, they do seem slightly confused as to whether we were looking for a loan or a private equity buy in to the project – so I have asked for clarification on what they are asking for before going any further. If it turns out they are looking to buy into the project rather than just finance it, do you want me to go to the next level?
4) In terms of Bulgaria we are looking to get you in front of people before September is out - same query with regards to dates as noted in point 2.
The new office number is 0113 308 2004
Thanks,
Adrian
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Michael,
I hope you are keeping well – just to keep you up to speed on where the Cyprus & Bulgaria projects are at.
1) August was very quiet, as it usually is, which is why I have not reported too much back. However things are now moving forward well.
2) In terms of the Russian targets for Pissouri, I’m looking to take this to the stage of meeting 2/3 potentials in the next three weeks – Are you happy for me to go ahead and set up the meetings or are there any dates to avoid?
3) On a more immediate note, there is some interest being shown in Pissouri by Investment Suisse. They have a private equity fund as well as a private banking and credit underwriting arm; the private equity fund is looking to arrange deals around the $10m mark. Based on the initial information that I provided, they think that this might be something they would like to participate in, and have requested that I supply further details for their team to consider. However, they do seem slightly confused as to whether we were looking for a loan or a private equity buy in to the project – so I have asked for clarification on what they are asking for before going any further. If it turns out they are looking to buy into the project rather than just finance it, do you want me to go to the next level?
4) In terms of Bulgaria we are looking to get you in front of people before September is out - same query with regards to dates as noted in point 2.
The new office number is 0113 308 2004
Thanks,
Adrian
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Location:Sales office UK
Wednesday, 29 September 2010
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