Comments can be sent to us at irnist23@gmail.com

INTRODUCTION
This Blog is dedicated to making public some of the business activities and methods of Liam Collins, David Bone Jr and their associates. In the spring of 2010, the present authors invested in Collins & Bone (C&B), who were offering an enticing 8-10% interest on the basis of buying houses for cash, renovating them and letting them out to students. We were assured that our money was secured against houses that they owned, including their own homes and the properties held by their associated company, Castle & Gatehouse (C&G). We have emails and brochures that confirm these details, as do others who invested on this same basis at around the same time. The idea worked for us for over a year, then in November 2011 they told us they were insolvent. They refused our every request for clear accounts, which led us to suspect wrongdoing. We began an investigation and then started this Blog. We found our suspicions confirmed: other investors had lost sometimes quite large amounts to C&B and its predecessor CBS, and all requests for repayment were adamantly refused. These people use and have used so many names that we found it necessary to compress them into CoBo (for Collins & Bone) and Coboco (for the whole bunch of them – there are quite a few!) Note that there is an index in the margin at the right hand side.

Monday, 14 November 2011

SOME POINTS WE ARE WONDERING ABOUT

We are extremely puzzled by some of the 'facts' we have so far been able to extract from Liam Collins and David Bone. When pressed, they admitted that their debts amount to "about" £2,000,0000 (two million pounds). They say they have only 150 investors! Or was that 120 investors? There are other upset and angry people who have invested in Collins and Bone. Are you one of them? Please get in touch so we can exchange facts and suggestions. Some obvious questions are:-

1. Where has that £2 million gone?
2. Why are Collins & Bone so anxious to avoid bankruptcy? (Certainly not because they care about us, their investors!)


3. What is the status of Castle and Gatehouse, one of the companies that Liam described to us as offering further  security for invested capital and which he claimed to be one of their 'family businesses'?


4. When we invested, we understood that the loans were to be guaranteed against actual properties bought with cash, but now we are told that both Liam Collins' and David Bone's homes, and also all the student rentals they 'own,' are fully mortgaged. Were we sold an investment through misrepresentation? This is what we shall be looking at.
Posted by IFS at 17:43

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