A fraudster complaining that @OffshoreAlert caused their scam to prematurely collapse is the most sincere compliment anyone can give us! 🔥🔥🔥 #oaclondon …
Thus it was when accountant Mark Munnelly, a principal of British firm Privilege Wealth Plc, moaned to the London High Court last year: “Since the articles were published, the amount of new investment has dropped significantly and significant redemptions have started. For the five months leading up to the articles, i.e. April to September 2016, total subscriptions to the claimant’s ‘senior secure loan offering’ were £2.47 million. For the five months following the article, i.e. October 2016 to February 2017, total subscriptions have been £380,000. This represents a drop in subscriptions of 85%. By way of comparison, in the five months running from November 2015 to March 2016, subscriptions were £2.24 million. It is clear, therefore, that the article itself had a very substantial negative impact on investment.” Less than 12 months later, Privilege Wealth disclosed it was insolvent by over $40 million due to fraud and went into administration. If OffshoreAlert hadn’t exposed the fraud in its early stages, the losses would likely have been tens of millions of dollars higher.
Since OffshoreAlert was launched in 1997, we have exposed more than 175 investment frauds and helped law enforcement and regulators hold those responsible accountable.
Find out how we do it and why international criminals hate us at 7th Annual OffshoreAlert Conference Europe, which will take place at the Grange St. Paul’s Hotel, in London, on November 12-13th, 2018.
To register for this event, please visit www.oaclondon.com.