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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.

Wednesday, 11 January 2012

AN EXCHANGE WITH JOE SINAGOGA

We received an email from Joe Sinagoga yesterday, and we want to share the exchange with readers for its humour content—a little bit of comic relief from the serious situation that the 'boys' have got everyone into. Joe writes:

"Well, Jasmine & Sally,

"Congratulations to you both. You have managed between you to extinguish any hope of Collins & Bone ever being able to pay down the debt owed, not just to yourselves, but also to 133 other people, who like you invested in two men who have openly admitted their naivety & mistakes.

"I will do everything in my power to help these boys recover from this lunacy that you have displayed. My desire now is to see them pay back every single penny they owe, with the exception of any money that is owed to you.

"I hope you feel your actions were worth it. I very much doubt that the other 133 people will see things in the same way.

Joe Sinagoga"

We reply:

Hi, Joe!

Good to hear from you. We take your underlying message as being one of appreciation and encouragement to us for our painstaking work in clarifying the murky deeds of CoBo et al. We know you had to disguise it as criticism of us, for fear of upsetting those poor 'boys,' who are so sensitive to truth that they can't bear to be anywhere near it, and we are aware of the tricky position you are in. Do be careful though: in dealing with CoBo you're treading on troubled waffle. Rather than paying down the debt, as you say, we investors want them to pay up!

Regards,

JASMINE & SALLY

PS The 'boys' are over thirty.
Posted by IFS at 14:19

2 comments:

  1. Anonymous1/11/2012 9:42 pm

    I think every one of us would be willing to admit to our own naivety & mistakes. But none of my mistakes come near owing hundreds of thousands of pounds to 133 people.

    I invested money to purchase a share in a property to refurbish. Where's my share in a property? Where did the money go?

    ReplyDelete
  2. Anonymous1/12/2012 8:26 pm

    We need to face up to reality. There is no money and there is not going to be any money.

    C&B have had a number of companies wound up owing debts (the records are on the companies house web site) and then started new companies which have similarly been wound up. There are also unsatisfied County Court Judgements against Collins and Bone as a search on the Registry Land Trust web site will reveal (date of search: 30.11.2010, Liam James Collins, Northamptom CCBC, case no. 9QT65487, date 18.6.09, amount £805, status: unsatisfied judgement; date of search: 30.11.2010, David Bone, Manchester, case no. 9MA11605, date 22.7.2009, amount £2559, status: unsatisfied judgement). The reality is that there is not going to be any money from the present bankruptcy unless they have assets hidden away that we know nothing about. Their portfolio of properties (as sent round to investors to show that they had assets) was admitted by Liam Collins to me during a hearing in Lambeth County Court not to be worth anything except as a source of rental income, as it is mortgaged to the hilt.

    How do you imagine they will ever pay the investors back when their only demonstrated money-making skill is dancing? If you believe this story, dream on.

    Let's move on. Now we know - if something looks too good to be true, it probably is.

    So I am asking the bloggers - what is now the aim of your blog?

    ReplyDelete

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