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.

Wednesday, 9 May 2012

LIAM COLLINS BANKRUPTED

For the information of any investor who didn't receive it, here is our Circular #16, which went out this afternoon:-

Dear All—
Liam Collins was declared bankrupt this morning in Newcastle at 11:55 am. He didn't bother to turn up, of course. Instead, he asked for the hearing to be transferred to London. This was refused by the judge.

The Newcastle Evening Chronicle asked us for a comment and this is what we wrote to them:-

"The bankruptcy of Liam Collins is the first small step in clearing up the total shambles of his financial affairs, which have led to loss of invested funds for many people, several of whom are retired and some in financial difficulty. His associates will also have to answer for the years of mismanagement and downright deceit in which they have all been engaged. His partner, David Bone, Jr also faces a bankruptcy hearing, on the 31st May.

NB  The debts for which Collins and Bone are responsible amount not to £1m but to £4m (that's four million pounds).

We think that a comment from an investor, which was posted on our blog is worth repeating here:

"Dear Sir/Madam, I would personally like to wish Mr Liam Collins all the best with the Olympic bobsleigh attempt. He's a slippery customer so will be a great asset to the team. I thank you. Annoyed Of Newcastle."
Posted by IFS at 13:41

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