In their post of 13th February on the copycat blog, CoBo relate their efforts to talk to the FSA and the police about possible charges of malpractice and fraud that may be brought against them. They write, ‘We wish for this to be brought to a head as much as you do. And in order to 'turn ourselves in' there first has to be a reluctance to do so, again, this is far from the case.’ Here, they show that they have misunderstood the expression. Understandable, but erroneous.
The phrase we used ‘to turn themselves in’ means that they should at once stop prevaricating and arguing and simply admit to the investors and the relevant authorities that they acted deceitfully in soliciting money and promising high rates of interest. The highly plausible sales pitch that was used to persuade people to part with their money bore little or no relationship to how the funds were actually used or to the actual state of the Partnership's solvency. This was in a parlous state, but they deceived everyone into thinking that they were fully solvent. They gave all potential investors the impression that they were dedicated to buying, restoring and letting out property, when in fact there seems to have been little more to their business than endless talk on mobile phones while expensively gadding about the country and avoiding unhappy and angry creditors.
So, once again we suggest that this whole property development team* should turn itself in, come clean about all the assets and liabilities and let the proper authorities see what can be done to sort out the present financial fiasco. There will be a lot of work to do in order to effect a satisfactory clear-up, but just think of the weight that will be lifted from everyone's shoulders!
The phrase we used ‘to turn themselves in’ means that they should at once stop prevaricating and arguing and simply admit to the investors and the relevant authorities that they acted deceitfully in soliciting money and promising high rates of interest. The highly plausible sales pitch that was used to persuade people to part with their money bore little or no relationship to how the funds were actually used or to the actual state of the Partnership's solvency. This was in a parlous state, but they deceived everyone into thinking that they were fully solvent. They gave all potential investors the impression that they were dedicated to buying, restoring and letting out property, when in fact there seems to have been little more to their business than endless talk on mobile phones while expensively gadding about the country and avoiding unhappy and angry creditors.
So, once again we suggest that this whole property development team* should turn itself in, come clean about all the assets and liabilities and let the proper authorities see what can be done to sort out the present financial fiasco. There will be a lot of work to do in order to effect a satisfactory clear-up, but just think of the weight that will be lifted from everyone's shoulders!
*The whole team is, of course: David Bone Sr and Jr, Rachel Bone, Mark Black and Liam Collins.
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