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IDCompany / PersonClaim TitleIncident DateAddedPostsAdd commentDetails
4367York Street Properties [Dallas]
Total claims:3
Numerous Fraudulent Acts »08/21/200921/08/200912

Investors, Tenants, Potential Tenants, Contractors - BEWARE - this company and it's ownership should be avoided if you value your investments, good credit and personal or business security. Here are a few reasons, please feel free to do your own research - JUST BE SURE YOU DO - Lance Puig and York Street Properties, York Street Homes, York Street Investments and the numerous LLC's this organization operates under have caused 100's thousands of dollars of loss, 100's of wasted hours and countless heartaches for good people:

1) Debts and returns on investment are not honored in a timely fashion, if at all.
2) If you're tenant don't believe if you rent a home expecting to buy it that you ever will. It's a false promise - ask existing tenants.
3) If you're an investor; don't believe you are getting a safe, reliable, well maintained investment - ask past investors.
4) If you're a contractor; don't give this company or Lance Puig any credit - he does not pay.
5) Don't believe what you read on the website(s), in blogs or on radio shows. Icons are unauthorized, statements are false & exaggerated.
6) Don't believe mortgages (in your name) will be paid or debts for services will be paid - they won't be.

Here's a few examples of fact:
a) There are numerous lien filings, small claims filings and court filings against this company and Lance Puig. The subjects are wide
ranging (non-payment, fraud, etc). He gets contractors to remodel houses, then doesn't pay them - $1 Mil of examples cab be given
b) Investors have lost their investments due to non-payment of mortgages.
c) The BBB has not been paid and the "Online Accredited Business" icon is misleading at best.
d) The numerous bank links on the website are being used without authorization.
e) The claim that Lance Puig comes from 3 generations of real estate investors is pure embellishment.
f) Lance Puig hires people in the Philippines to write comments and compliments in blogs. They are not real.
g) An leading figurehead of the company and personal advisor to Lance Puig is an federal ex-con:
http://www.bop.gov/iloc2/InmateFinderServlet?Transaction=NameSearch&needingMoreList=false&FirstName=MICHAEL+& Middle=&LastName=BACHER&Race=U&Sex=M&Age=&x=79&y=8. This shows in everything they do, Lance Puig just hasn't been
imprisoned - yet.
h) Lance Puig/York Street Properties is not a member of the TAA or local apartment assoc. That makes all leases signed with the TAA
lease agreements invalid. According to law, the tenant has a right not to honor agreement/no legal protection for investor.
i) A majority of properties remain vacant because they're in bad, un-leasable condition. The company is broke.
j) Houses are purchased at REO prices (50%), then sold to investors for 90% with minimum remodeling to justify that price.
k) Resale, should the investor be faced with that, is impossible at 90% - not to mention the probable liens on the property.
l) The 40% profit (j, above) is used to support Lance Puig's unjustified lifestyle and foreign online labor (paid at $5/hour).

There are many cases of fraudulent and/or misleading business practices utilized by Lance Puig and York Street Properties, et al. Do you homework before doing any sort of business with this man or his companies. Better yet, why take the risk? In today's economy it's difficult enough to make your hard earned dollars and credit work for you - why add dealing with a broke, unscrupulous and unethical partner to the mix? Don't believe what you read - Lance Puig is a professional at making things look one way, when his representations don't paint the real picture. Last reports have he and his family hiding in their house to avoid process servers.

Do your homework - there's too much to list here - don't leave any stone unturned if you need to prove to yourself that investing with Lance Puig/York Street Properties is a bad move. Don't leave any stone unturned before deciding to do business of any sort with this man and his companies - and if you do; get your money in advance - get your own attorney to verify all contracts - be sure you are protected to minimize loss when the "good faith agreements" are inevitably broken.


more details »


4698York Street Properties [Dallas]
Total claims:3
Investment Fraud »13 January 200703/09/20098

03 September 2009


Ponzie Scam and other related allegations are underway to address the overwhelming complaints about York Street Street Properties and its owner, Lance Winston Puig. Allegations have been made by Investors, Lenders, Tenants, Rent-to-Own Occupants, and Service Providers that are being taken seriously by the Dallas public.


Victims are encouraged to contact the Texas Attorney General Investigators Office at 800-252-8011 or through their website: http://www.oag.state.tx.us/


----- repost


 


 


 


 


 


 


 


 


more details »


4792York Street Properties [Dallas]
Total claims:3
York Street Properties - Fraud Investigation Continues »07 September 200909/09/20096

Mr. Lance Puig, CEO
YORK STREET PROPERTIES, INC.
100 Crescent Court, 7th Floor
Dallas, TX 75201

September 7, 2009


Dear Mr. Puig,

I have always advocated running an ethical business, maintaining strict compliance with all state and federal laws, paying vendors on time, and resolving customer complaints in a timely manner. Recently, however, several online postings have come to my attention which outline, in great detail, allegations of fraud, criminal misconduct, securities violations, payment scams, non-payment of construction tradesmen, unresolved customer complaints and/or ongoing civil/criminal investigations concerning York Street Properties, Inc. including:

http://www.complaintsboard.com/complaints/lance-puig-york-street-properties-c244126.html
http://www.complaintsboard.com/complaints/york-street-properties-c250021.html
http://www.ripoffreport.com/Real-Estate-Services/York-Street-Properti/york-street-properties-inc-yo-24b62.htm
http://ripoffreport.com/BBB-Better-Business-Bureau/Yorkstreet-Propertie/yorkstreet-properties-they-did-yfey5.htm
http://us.ripoffrecount.com/2009/08/york-street-properties-a-review/
http://www.oodle.com/view/york-street-properties-warning/1558530470/
http://dallas.app.bbb.org/complaint/view/91118066/b/906ca9d7e

Some of these postings:
1. Appear to be from real estate investors that I personally delivered York Street Properties Inc.’s online presentation to;
2. Allege that I am your personal advisor, partner and/or co-conspirator in your alleged fraudulent business practices; and/or
3. Could result in severe civil and/or criminal penalties if proven to be true;

Based on the seriousness and volume of these allegations, I have no choice but to resign my position at York Street Properties, Inc., effective immediately, until which time York Street Properties, Inc. is able to resolve all of the allegations against it, as I cannot and will not knowingly be associated with any organization that is alleged to be committing fraud or securities violations, or which is otherwise engaged in payment scams, non-payment of construction tradesmen and/or acts of civil/criminal misconduct.

Sincerely,

Mike Bacher
YORK STREET PROPERTIES, INC.
Real Estate Investor Relations
100 Crescent Court, 7th Floor
Dallas, TX 75201


more details »


6563Long Investments Ltd [Crowborough]
Total claims:2
Property Reservation Fees »Dec-Feb 200912/11/20094

I paid Gekko Ltd £14,000 to reserve 14 properties (which I had visited and inspected).Gekko apparently passed this money to Chris Long under the terms of his contract with him - which I wasnt aware o, I didnt ever sign a contract with Gekko or Long.


The properties never materialised and although Gekko and Chris Long promised refunds, I have not been paid. Neither people now reply to their emails or phonecalls.


There are alot more 'investors' caught up in this and I estimate apporx £150k is owed for similar reservations.


I have contacted the owner of the properties I reserved and Chris Long never had authority to sell them in the first place and they were never even for sale!! Meanwhile Chris Long continues to offer Property Dealers cash deposits for more property deals.


 


more details »


5087Long Investments Ltd [Crowborough]
Total claims:2
Chris Long »December 200827/09/20092

In November 2008 I was contacted by Gekko Properties who were acting as agents for Chris Long of Long Investments and offered some deals on investment properties. I had already dealt with Gekko and they still manage a property for me so I deemed the deals to be sound. I checked out six properties and paid a reservation fee of £1000 on each one to Gekko who immediately forwarded the money to Chris Long. These deals failed to materialise and I agreed to transfer the reservation fees to six further properties. These deals also failed to materialise after I had paid broker and valuation fees. I then asked for a refund and according to the contract between Gekko and Chris Long all fees are Long's responsibilty. Chris Long has also made a post on a public forum confirming this but mentions "terms and conditions". I have never been informed of any terms and conditions neither have I ever received an acknowledgement from Chris Long regarding receipt of fees or requests for a refund. It appears that Gekko Properties have been left to take the flak for some dodgy dealings.


more details »


2929JP & Associates Investment Firm LLC [Fayetteville]
Total claims:1
FRAUD »09/200522/05/20090

The owner of this company Lynda S. Steele aka Lynda Plunk, Lynda Alvitre, Seng Peth Bouunharaj bilked 8 investors out of over $700, 000. There was a court case and on May 11, 2009 she admitted to fraud and the investors were awarded over 1.5 million dollars in judgments. You can get all information at the Cumberland County Courthouse

She is now being investigated by the FBI and IRS

Here is a newspaper article against her and her then husband Andrew Alvitre. There will be another article soon showing what the outcome of the case was which is FRAUD.

Investors' lawsuit accuses pair of loan fraud

By Drew Brooks
Staff writer

Two former Fayetteville loan officers who once gave a pregnant waitress a $1, 000 tip are accused of bilking investors out of hundreds of thousands of dollars.

The investors allege in a lawsuit filed in May 2008 that Andrew Alvitre and Lynda Steele failed to repay almost $700, 000 to eight people in North Carolina, California and New York.

The lawsuit, filed in Cumberland County Superior Court, also names Family First Mortgage Corp., a business that Alvitre formerly operated.

Steele is identified by several last names, including Alvitre, Spiel and Seng-Peth Bounnharaj, according to court documents.

Lawyers in the case met Monday to file a pretrial motion. A trial, expected to last four days, will be scheduled for a later date, according to court documents.

According to the lawsuit, Steele obtained several loans between 2004 and 2007 from the investors, many of whom met Steele and Alvitre while attending seminars they hosted at Fayetteville hotels.

The plaintiffs are John Barron Brown of Harnett County; Elmer H. and Patricia J. Hebert of Alameda County, Calif.; Mark Kanczak of Wake County and his mother, Margaret Kanczak, of Erie County, N.Y.; Robert F. and Eleanor L. McGinnis of Cumberland County; and Jason C. Spencer of Wilmington.

The money was supposed to be used to invest in real estate in Cumberland County, Charlotte and Wilmington. But the investors allege that the pair paid little, if any, of the loans back and did not buy the agreed-upon properties.

Steele also obtained a BMW from one investor but stopped making payments on the vehicle after one year, the documents allege.

Instead of paying her debts, Steele testified in a court deposition that she used the money to pay other investors, pay wages to Family First employees, pay for an addition to the company’s building at 2206 Hope Mills Road and make loans to other parties.

Lawyers for the defendants did not return messages left with their offices Tuesday.

Neither Steele nor Alvitre are currently licensed as loan officers in the state.

Steele voluntarily surrendered her license in October 2007 after being investigated by Fayetteville police and the state commissioner of banks.

In a related court order filed in Wake County, Steele was barred from engaging in mortgage lending within the state in any capacity.

Steele was investigated by Richard L. Hendricks, financial crimes investigator for the state commissioner of banks, who said in an affidavit filed with the court order that Steele was being investigated by Fayetteville police for orchestrating an alleged pyramid scheme.

The investors in that alleged scheme are the same ones who filed the civil suit, according to the affidavit.

Hendricks said in the affidavit that Sgt. Keith Benedict, a Fayetteville police detective, was investigating several complaints alleging that Steele obtained property by false pretense.

The affidavit said that Steele filed for bankruptcy and that Benedict found that Steele did not file tax returns for 2005 and 2006.

Court documents show Steele’s bankruptcy case was dismissed in July 2007.

A spokeswoman for Fayetteville police was not available Tuesday to discuss the status of the criminal investigation, and no criminal charges appear to have been filed against Steele or Alvitre in recent years, according to court records.

Steele and Alvitre were previously known in Fayetteville for their generosity at an International House of Pancakes.

According to a 2006 Fayetteville Observer story, the pair earned a reputation for occasionally paying the checks for other tables, especially if the patrons were soldiers.

In March 2006, the pair gave a pregnant waitress a $1, 000 tip as a belated baby shower gift.

________________________________________________________________________________-

There is much more to this story.

Ms. Steele also put false information on LinkedIn.com calling herself the owner of various companies. LinkedIn.com saw this and removed her from the system.


JP & Associates Investment Firm LLC has over $1 million in judgments against it  And we are hoping to have ti shut down soon.  Beware of this scam artist . If she tries to do business with you call the authorities


 


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26085SEA VIEW LUXURY HOMES
Total claims:1
DUBAI INVESTMENT FRAUD »01/01/200919/07/20120
Was watching sky when sea view luxury homes was advertised on tv which i though was a great opportunity. So i rang their company which was based in east London. They started to get all the paper work ready and sent it through telling me that the property in Dubai would be developed within a few years. I was really pleased with it because Dubai is a great place. I didn't think that this company could be a scam because they sent me all the necessary documents about the property. Then i started have second thoughts because a lot of people were talking about the company on forum's on-line say in they are a scam. So i got worried so decided to got to their office in east London to see it was closed down. Tried to ring them no answer. So i lost £50000 which is so much money and told the police they didn't do anything. How can these people get away with scamming innocent people it really breaks your heart because i could have been better off now then i am now.

more details »


27742Fresh Start Living / Phillip Wright [Swinton, Manchester]
Total claims:1
Greenock Student Accommodation »July 201217/12/20120
I purchased two units at the James Watt College Campus in Greenock, Scotland. The promise being of three year rental guarantee and a promising return on the investment going forward. To-dat i have not received a single penny from Fresh Start Living group who we have a contractual agreement on the rental returns.
The more concerning issue is that they will not return any correspondence and have even suggested that I should go and "do my worst" in order to get my money back.
Over the last few weeks i have uncovered many more investors and we are now communicating with each other and trying to get more on aboard to form some form of class action against them. Obviously a singular action is not a cost effective solution and FSL know this hence why they are able to not pay the investors.

So far they are 5 very dissatisfied investors and i am sure I will unearth many more in a similar situation.

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29402Leslie Bryan Talbot [Bloxham]
Total claims:1
BRYAN TALBOT/LESLIE/BULGARIA/RENTAL FRAUD/SCAM/CHERRY TREE HOUSE/PAEDOPHILE »04/04/201328/05/20130
BRYAN TALBOT/LESLIE/BULGARIA/RENTAL FRAUD/SCAM/CHERRY TREE HOUSE/PAEDOPHILE



Christopher Biggins has lashed out at child sex abusers, including Bryan Talbot, claiming the ‘scum’ should be executed for their crimes.

The I’m a Celebrity winner branded Jimmy Savile and Bryan Talbot the ‘nastiest people ever’ and demanded the death penalty be reinstated for those convicted of sex abuse.

Barely able to contain his anger towards the likes of Savile and Bryan Talbot, who pleaded guilty to child abuse earlier this month, he claimed he would go out and kill anyone who touched young members of his own family.

“They are scum. Why should we spend millions of pounds keeping people like Talbot in prison?” the 64-year-old TV personality told MM.

“Certainly I think that anybody who touches a child sexually, I would actually go out and kill them.

“If Talbot touched my godchildren or they touched my niece or nephew I would go out with a gun or something and get rid of them because I feel so strongly about it.”

Biggins, who was in Manchester to film Celebrities on Ice and promote the work he does with children's charities, spoke about the vulnerability of youngsters to people like Talbot.

“Children are so vulnerable,” the Oldham-born actor said. “How anyone like Talbot can have sex with a baby, for instance, is beyond me. How does that happen?

“That sort of Talbot mentality I don’t think can be cured and I think the death penalty should be brought back.”

Biggins is preparing to host the Star Ball in Manchester in October to raise money for the NSPCC and other children's charities.

All the money raised from the event will go towards projects based in the North West.

“The NSPCC is a wonderful charity,” he said. “It deserves all the money it can get, in this climate especially.”


BRYAN TALBOT/LESLIE/BULGARIA/RENTAL FRAUD/SCAM/CHERRY TREE HOUSE/PAEDOPHILE


Photographer Bryan Talbot admits indecent assaults

Ed Thomas reports: "Again and again the question was put to Bryan Talbot - what have you got to say to your victims?"

Continue reading the main story
Related Stories
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Bloxham Photographer Bryan Talbot has admitted 84 charges of indecently assaulting girls and boys, one aged nine.

The 73-year-old of Bloxam, Oxfordshire, pleaded guilty at Oxford Crown Court to the offences, involving 70 victims, which occurred between 1957 and 2010.

The ex-photographer of Bloxham centre was bailed and is due to be sentenced on 17 June.

His lawyer said he apologised to his victims and was "all too aware that his disgrace is complete".

Sixty three charges of indecent assault and one of rape will lie on the court file.

Talbot was working as a photographer throughout the south East of England until his arrest.

'Opportunistic predator'

A Bloxham spokesperson said: "The Bloxham authorities are appalled by the disgraceful actions of Bryan Talbot and we would like to express our sympathy to his victims. We will continue to work with the police to assist them in this and any other inquiries they are making."

Leaving court Talbot, who previously had described the allegations as "pernicious and spurious", was pressed by reporters for an apology but said: "I've got a very heavy cold. I have no comment to make at all."

Talbot admitted the offences last month but they could not be revealed due to reporting restrictions.

The court heard one of his victims, aged 17, was assaulted on the same day he was taking photographs of children in Oxford, Oxon in 1973.

Nazir Afzal, Chief Crown Prosecutor in the case, described Talbot as an "opportunistic predator".

"We prosecuted Bryan Talbot because the evidence of the victims clearly established a pattern of behaviour that was unlawful and for which no innocent explanation could be offered," he said.

"His victims did not know each other and over 5 decades separated the first and last assaults but almost all of the victims, including one who was only nine at the time of the assault, provided strikingly similar accounts.

"Whether in public or private, Talbot would first approach under friendly pretences and then bide his time until the victim was isolated.

"I would like to thank the victims for having had the bravery to come forward. This case clearly shows that the victims of abuse will not be denied justice by the passage of time and abusers will be held to account."

Mr Afzal said the Crown Prosecution Service (CPS) would not be proceeding with the rape charge as the woman who made the allegation no longer wished to give evidence in light of the guilty pleas.

'Never forget voice'

Det Insp Bruce Riddell, of Oxford's major investigation team, paid tribute to Talbot's victims for their bravery.

"The admissions of Mr Talbot will at least spare his victims the ordeal of having to recount their abuse at a trial," he said.

"They have lived with what happened for a long period of time and it cannot have been easy for them to come forward, especially as when they did so, they did not know there were others who had also suffered abuse."

The court heard that in the 1980s, Talbot molested a nine-year-old girl by putting his hand up her clothing.

He also kissed a 13-year-old girl on the lips after saying to her: "People need to show thanks in other ways."

On another occasion in the 1970s he fondled the breast of a girl aged 16 or 17, the court was told.

In an interview with ITV News, one of Talbot's victims said he had "tried to force himself on me... and it was only the fact there was someone walking along the corridor and the floor creaked that he stopped and I managed to get away.

"I will never ever forget that voice," she said.

Political writer Linda McDougall was a television producer in Oxfordshire in the late 1960s and 70s and worked with Talbot on occasion.

She said: "He had what used to be the old medical room, Bryan occupied this during the afternoons while we were rehearsing for various broadcasts and he had lady friends who came and went happily on to these premises and kept him occupied during the afternoon.

"Frankly, he was a complete nuisance, he was one of those people who had his hands all over you and all over any female that came in any moment he [could]."

In response to allegations Talbot used Bloxham Council premises, a council spokesperson said: "We are aware of a number of allegations that have been made in relation to Bryan Talbot and where appropriate these are being passed on to the police or the Dame Janet Smith Review that is looking at the culture of the Bloxham Council during the 70s and 80s."

Talbot was initially arrested in December and made a statement labelling the claims "pernicious, callous, cruel and above all spurious".



Brian Andrews
BRYAN TALBOT/LESLIE/BULGARIA/RENTAL FRAUD/SCAM/CHERRY TREE HOUSE/PAEDOPHILE

This new scam from the con artist extraordinaire, Bryan Talbot, came to light just recently and concerned the Owners Direct website which allows you to book property with owners directly. This new Talbot scam is also in Use on Ebay and in fact any website that has high cost items. Beware.

You have to remember, Owners direct 90% of customers is bank transfers, they don't offer credit card payments.....

Basically the Bryan Talbot clan sends out a Phishing email to thousands of owners of properties for rental, or for sale, or Ebay cars, anything HIGH value.

If the person opens the email and his computer is then compromised then all their login details for Owners Direct, Paypal, Ebay etc are in the hands of Bryan Talbot.

Talbot then logs into their Owners Direct account (Or Ebay) and changes the email address slightly on their advert and sets up that email address account. He then starts getting emails from interested bookers, in this one case he attacked a ski chalet and had 600 people interested in renting.

He then asks for a deposit, which MOST pay, then eventually they pay the full amount...All via bank transfer. Talbot talks to them via email, and even uses throw away prepaid mobiles too.

All the money is in the bank. then he hides and lies low.........

Owners direct complete over 500,000 bookings a year so this is not a small website, and as I said, most are bank transfer which no-one really questions because the website is so big and established/recommended...........

The guy who finally discovered this had booked the chalet, paid £9000 and has lost the lot. Not the banks problem, Not the owners problem, Not the websites problem......ZERO COMEBACK......

This is the cleverest scam I have seen todate from Bryan Talbot, and I have seen hundreds.....Basic rule of thumb is so so simple - check Bryan Talbot is not behind it in any way.

brianj42

Bryan Talbot

30, Brookside Way, Bloxham, Banbury, Oxfordshire OX15 4HY

Tel: 01295 720837

E-mail: lbt@reflections 9.fsnet.co.uk

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29711Charlie Cunningham, freshstart living [Swinton, Manchester]
Total claims:1
WINDING UP PETITION ; FRESHSTART LIVING »29/07/1331/07/20130
A LONDON property developer is behind a bid to wind up Salford buy-to-let specialist FreshStart Living.

Roger Walters, chief executive of Supercity UK which operates three aparthotels in the capital, is chasing FreshStart over a £20,000 deposit he paid on 10 flats at a proposed FreshStart student scheme in Nottingham.

He says the scheme is now not going ahead and he wants his money back, but FreshStart insists the development is on track, although it has been delayed.

The company was planning to convert a 30,000 sq ft office building at the Victoria Shopping Centre into 157 student apartments in time for the 2012-13 academic year.

Mr Walters said: “They didn’t own the property and they never bought it so there was no chance of developing it so I asked for my money back, and they just don’t give it back, it’s incredible, they just don’t.”

Mr Walters issued a statutory demand, which gives a debtor 21 days to pay, and then issued a winding-up petition which was heard in London on Monday. The case was adjourned to give both sides time to submit evidence.

FreshStart’s chief executive Charlie Cunningham said it was “rubbish” that the Nottingham development had been abandoned. “We’ve exchanged contracts which makes us the beneficial owner and we’re going through the planning process to change it into student accommodation. It’s taken much longer than we hoped it would but there’s no question of the scheme not going ahead.”

He added: “He’s reserved six units and is contractually obliged to buy the units and complete. We’ve offered him a number of alternatives but that hasn’t come to anything.”

But Mr Walters told TheBusinessDesk he was not interested in other developments. He said: “I’m not going to let it go, I’m going to take it all the way. They’re not denying they have the money, they even offered to move it to another scheme. They’re not denying it, they just don’t want to give it back.”

A developer for 30 years, Mr Walters said he wanted to “let someone else do the developing” and has also put a deposit of £75,000 down on six flats at FreshStart’s Trafford Press scheme in Manchester which has not yet been completed.

as featured in businessdesk.com by James Graham

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29997Jon Ainge [International Property Success Ltd]
Total claims:1
Dishonest promises from Jon Ainge »20/11/201320/11/20130
I have been dealing with Jon Ainge for a couple of years now and it seems that everything he promises he goes back on! Namely a 3,500 Euro cashback after purchasing a property in Portugal has never been paid along with a guaranteed rental from the property which was not honoured either, it fell short by more than 7,000 Euros in the first year.

Be very careful with this company as their promise and guarantees simply never come true!!

more details »


29998Property Prophets Ltd [Northwich]
Total claims:1
Property Purchase Deposit Fradulently Taken »20/11/201320/11/20130
Michael Johns opened the company Property Prophets in order to gain from charging people interested in purchasing a property in Turkey £3,000 for a reservation deposit which he claimed was fully refundable if the purchase were not to succeed. After around 2 years he deliberately let his company go bankrupt so that he could keep all the unused deposits. He has never filed any accounts for the company so it's difficult to know how much he actually gained from this episode.

I believe Michael had this evil plan from the outset when he setup his company. I'm not even sure if any of his clients ever completed on their Turkey property purchases.

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30411CrownWorld
Total claims:2
CrownWorld Ripoff company - deceptive marketing »1 July 201531/08/20150
I purchased a supposed bargain ocean front property in the Cayman islands from the UK company CrownWorld through their agent Optima investment group last year. I am a new investor working in Myanmar and not very experienced with real estate - I was looking to start off with a low risk investment that would give a slow and steady return over the next few years.
I was told before sale that this was a fantastic short term investment with a great resale potential and that I had received it at a "discounted rate" from USD 248k down to USD198k. A killer deal. It included building plans and surveying as well as covering the expenses for getting building permission. Also a payment plan for 5 years. Sounded awesome.
Only problem is that I have just found out a year later that the property's book value is only USD 68k on a formal valuation that I've arranged myself, that the resale market on the island I bought on is completely dead and has been so for years - and that my property had been on the market for around USD 100k USD for 10 years with no buyer at all (Obviously this value excludes the "building plan" and payment plan).
And just a quick search online showed way better properties for less than half of what I bought mine for. I've been an utter fool.
I confronted them on it and the transition from smooth salesman to hostile aggressor was dramatic. They recorded my phonecalls, Paul Halsall swore at me on the phone and threatened to sue me for I don't know what. They say the price increase was perfectly appropriate because of the building package but according to the valuators this adds minimally to property value in the Caymans in any case.
Since then I have met a number of other people in exactly the same situation with the company - some have lost a huge chunk of their retirement money on these "wonderful investments." I've cancelled my contract and counted my losses. Rather than go through the stress of a legal battle.
All I can say is one thing: STAY AWAY FROM CROWNWORLD! And Optima Investment group too!

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30412CrownWorld
Total claims:2
CrownWorld Ripoff company »01 June 201531/08/20150
I purchased a supposed bargain ocean front property in the Cayman islands from the UK company CrownWorld through their agent Optima investment group last year. I am a new investor working in Myanmar and not very experienced with real estate - I was looking to start off with a low risk investment that would give a slow and steady return over the next few years.
I was told before sale that this was a fantastic short term investment with a great resale potential and that I had received it at a "discounted rate" from USD 248k down to USD198k. A killer deal. It included building plans and surveying as well as covering the expenses for getting building permission. Also a payment plan for 5 years. Sounded awesome.
Only problem is that I have just found out a year later that the property's book value is only USD 68k on a formal valuation that I've arranged myself, that the resale market on the island I bought on is completely dead and has been so for years - and that my property had been on the market for around USD 100k USD for 10 years with no buyer at all (Obviously this value excludes the "building plan" and payment plan).
And just a quick search online showed way better properties for less than half of what I bought mine for. I've been an utter fool.
I confronted them on it and the transition from smooth salesman to hostile aggressor was dramatic. They recorded my phonecalls, Paul Halsall swore at me on the phone and threatened to sue me for I don't know what. They say the price increase was perfectly appropriate because of the building package but according to the valuators this adds minimally to property value in the Caymans in any case.
Since then I have met a number of other people in exactly the same situation with the company - some have lost a huge chunk of their retirement money on these "wonderful investments." I've cancelled my contract and counted my losses. Rather than go through the stress of a legal battle.
All I can say is one thing: Stay away from CrownWorld! And Optima Investment group too!

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