in Luxembourg, UK

360 Invest Group and Alternative Markets: Exit strategy of converting near worthless VERs to a CER market that is “walking on one leg”

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This is Andy. He’s 66 and he worked all his life as a mechanic. He hasn’t got a pension fund, but he saved up £37,000. Until, that is, a company called 360 Invest Group persuaded him to “invest” the money in carbon credits. 360 Invest Group promised him he a minimum 10% return in the first year. Unfortunately, it didn’t work out like that.

360 Invest Group sold Andy 7,000 carbon credits, at a little over £5 each. 360 Invest Group bought the credits from a company called Carbon-ex S.à r.l. in Luxembourg. (I wrote about Carbon-ex in March 2013.) Colemans solicitors were involved too. The carbon credits came from a renewable energy project in India. After a year, 360 Invest Group told Andy that the price had rocketed. Andy was due to exit at the end of 2012.

But then 360 Invest Group disappeared. A company called Alternative Markets got in touch with Andy. Alternative Markets told him that because he’d bought voluntary carbon credits he could not sell them. If he “converted” his carbon credits to compliance credits (CERs), Alternative Markets told him, he could exit with £75,000 in September. Guaranteed. The catch? Alternative Markets wanted another £17,000 from Andy to convert his carbon credits.

Andy’s story was reported in the Scottish Sun last week. His story is similar to those of people commenting on REDD-Monitor (here, here, here, and here). More stories about 360 Invest Group are here and here.

Apart from the problem that Alternative Markets wants cash up front to “convert” voluntary carbon credits to compliance carbon credits, there’s the fact that CERs are currently changing hands for around €0.57. Unlike the voluntary carbon market, trade in CERs is regulated, CERs are traded on exchanges such as the IntercontinentalExchange (ICE), and the price of CERs is readily available, for example on ICE’s monthly reports – this is from the June 2013 report:

ice

Of course, the price of CERs could recover. But a quick look at the maths shows the risks involved for Andy, if he were to follow Alternative Markets’ advice. He has 7,000 almost worthless voluntary carbon credits (VERs). The current price of 7,000 CERs is less than £4,000. Yet Alternative Markets is suggesting he should pay £17,000. And that’s on top of the £37,000 he handed over for his VERs.

The Sun spoke to Jason Roberts of Alternative Markets, who described the company “business model” succinctly: “My advice would be to wait and hope the credits become more valuable or pay to convert them into CERS.”

Alternative Markets’ website was registered in January 2011. On its website, the company doesn’t give any office address, but a company brochure gives an addresses in Zurich and London (the London address is the same as Merrill Lynch International). I couldn’t find the registration details for a company called Alternative Markets on Open Corporates.

At the bottom of Alternative Markets’ website is a link to the LinkedIn page of “John Lewis, Director at Alternative Markets”. That’s his photograph, on the left. It’s reassuring to see who is behind this company. Except that it’s not. The photograph is available for sale from photography agency Shuttershock under the title, “Happy handsome businessman”.

On its website, in addition to the offers of investments in films, self storage companies, and rare earth minerals, Alternative Markets explains that it doesn’t sell voluntary carbon credits, and adds,

However, as a company we are acutely aware that the current market has made it difficult for investors to achieve their own expectations. In some cases (based on industry figures), it may be the case that you as an individual investor may now be in a situation whereby your original investment is now in a “negative” position.

In its brochure, Alternative Markets tells us that the EU planned to ban all CERs from HFC 23 (a by-product of refrigerant gas manufacture). As a result, “in excess of 90% of existing CERs in Europe will be banned and withdrawn from the compliance offset sector” and as a result demand will increase. But the HFC 23 credits were banned in April 2013. As Alessandro Vitelli at Bloomberg points out, this amounted to 7% of the annual emissions cap in Europe. Over the past couple of months, the price of CERs has increased slightly – but from all time record lows. For two days in July 2013 the trade in CERs in Europe stopped entirely and the volume of carbon permits and credits traded in the month of July fell by more than 40% compared to June. Bloomberg reports that,

The collapse shows factories, power stations and airlines in the European Union have already bought most of the 1.7 billion tons of UN credits they can use to offset domestic emissions through 2020.

One analyst describes the CER market as “walking on one leg”.

Converting VERs to CERs may sound an attractive exit strategy for people who are the victims of fraudulent sales of voluntary carbon credits. But when companies are asking for money to “convert” VERs to CERs and providing misleading information about the market for compliance carbon credits, it’s just another scam.
 

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143 Comments

  1. Hi there
    My concern is with Carbon Neutral Trading Exchange.
    I was told by Mark Green that he had managed to sell 5000 of my credits in project 92 to a business, fine, that was 2 months ago since then there has been a serious of complications with the transfer.
    Paul did phone me last Friday and told me that he would send me some money at the beginning of this month.
    I have e mailed him 3 times this week and not had a reply, when I telephoned his office yesterday there was no reply.
    Perhaps you would like to investigate this further.

  2. Good as usual. I wonder how I can get a copy of that Sun article. I am glad it is getting into the newspapers.

  3. i have been stung by capitall offset who didn’t even purchase the 15000 of the carbon credits. now they have dissapeared. nobody does anything, fraud squad is a joke how on earth are we ment to get justice. they took me for £22500 overall.
    what can we do, please help

  4. Hi Colin
    i am a little puzzled as on 25 April you posted that you knew Paul Mark Green and you trusted his firm and that patience was a virtue .Are we now to believe that you no longer think that he can deliver on his promises ?? Has a transfer been completed and CNTX not paid you or have they failed to transfer your credits ? Do you know of anyone they have actually exited?
    They told me last month they had exited about 48 clients and traded 186000 credits by the end of June. Trading carbon credits is an uncertain process i had been hoping for evidence that this firms claims were true,
    and that an exit may be possible ..

  5. @Colin Cumming (#1) – There’s already quite a lot on REDD-Monitor about Carbon Neutral Exchange. Here’s my first comment: http://bit.ly/18hEoSA. There are a few other comments in that thread.

    I posted an interview with Paul Mark Green in April 2013:

    Interview with Paul Mark Green, Carbon Neutral Trading Exchange: “I decided to set a goal to aid clients in exiting the market”

    In response to this post, you commented that you’d known Paul Green “for some time” and you were “satisfied that his intentions are entirely honourable”. Oh dear.

  6. My name is Christian Dalera and I manage Select Global and am part owner of Alternative Markets.

    We are based in Marbella, Spain, NOT in London.

    If you wish to speak with me please call 0203 384 9346 which will put you through to my PA at Select Global which is based in Edeficio Milla de Oro, 2nd floor, Marbella, Spain.

  7. @Christian Dalera (#7) – Did your company recently move to Spain? It’s just that I have several emails from a chap called Jeff Leigh from Select Global a few months back, trying to get me to pay a fee to convert VERs to CERs. At the time, you were based in Marble Arch in London, and your website still has this address. The new address you have given above indicates you are based in the same building as another boiler room scam – Oh sorry, boutique alternative investment company – Carbon Expert.

  8. I have posted on redd my thoughts on the ratbags who took me for thousands in april 2012.it is now time for some justice by the law/governent.the thousands of people who have been taken in deserve justice.its not just a small part of organised fraud anymore-its gone on too long! I have been in touch with a couple of the victims( no names,etc), and they are distraught!

  9. The only chance we have of getting any money back is if the quote, “ratbags” are put behind bars.

  10. Wow, I’m glad I did a bit of research and found this. Many thanks to Chris Lang for the post/article!!
    I had a call from Alternative Markets yesterday. They offer me to exchange my “worthless VCRs” to “valuable CERs” for a cost… It’s clear that I should not put any more money into this than I’ve already done (and probably lost)…

  11. Hello
    This thread makes interesting reading, I just wish I had found it last year! Last summer I bought £5k worth of VCS VER Spot Carbon Credits (£7 each) from Carbon Credit Offsetting Ltd (www.cco-online.com), arranged through First Capital UK which is a wine investment company. I was emailed a holding certificate issued from Carbon Neutral Investments Ltd (www.cn-investments.com). Now it appears that the http://www.cco-online.com website does not exist any more and my emails to them are returned. I get the feeling that I have been a victim of a scam here too! I have found out that Carbon Neutral Investments Ltd have now also ceased trading, but seem to have remerged as Gemmax Solutions. I contacted a broker – Enviro Associates (www.enviroassociates.org.uk) who told me that may credits do exist and if I bought some more credits with them, they could become my broker for all the credits. He told me that there was no selling mechanism yet but there would be one soon. The minimum I could buy was 150 at the current value of £3.99 a credit. This sounds like a recovery room scam and I don’t want to lose any more money than I have already.

    I have reported my dealings with Carbon Credit Offsetting to the FCA (0800 1116768) and I am about report the same to Action Fraud upon the advice of the FCA helpline.

    Is there any way out of this mess?

  12. @Bob (#12) – Thanks for this. You’ve been taken for a long and rather expensive ride, I’m afraid.

    More information on Carbon Neutral Investments here:

    “Beware when an investment involves Carbon Neutral Investments,” warns the UK’s Financial Conduct Authority

    Read the comments and follow the links in that post to more information about CNI.

    More about Enviro Associates here:

    Another boiler room scam? Enviro Associates’ “misleading” claims about carbon credits

  13. To clarify my previous post. Before Carbon Expert rebranded themselves as a business-to-business carbon offsetting company, they were selling voluntary carbon credits to private individuals as investments, promising very high returns – just like countless boiler room scams that have had the spotlight shone on them by redd-monitor.

    http://www.redd-monitor.org/2013/04/04/carbon-expert-another-boiler-room-scam/

    http://www.redd-monitor.org/2013/04/12/some-questions-for-david-martin-managing-director-of-carbon-expert/

    Which is why I was surprised to see another company, Select Global, who have also been involved in selling carbon credits, possibly working from the same building in Spain as Carbon Expert. Grateful if whoever posted as Christian Dalera (#6), could clarify – the website of Select Global still gives an address of Marble Arch. If anyone has any further details about this company please post here.

  14. the latest I have is from a co. called Wellzable who will sell my VER’s (£23,000 worth) for £1.40each & CER’s £10,000 worth for 30p each. This will get 40% of my outlay back. Alternatively if I buy £5000 more they will sell out on 1st nov for £7.50 each. The basis behind this is that they have a futures contract with a utility co. at the £7.50 price which has to be honoured.
    Sounds good !!? what do you think?

  15. C.Dalera was the boss of 360 Property invest, linked to 360 Invest group!

    Catch him!

  16. When will people realise that a private investor has never and will never make money from Carbon Credits.
    It has been clearly highlighted above where at least 1 of these conmen is so rather than spend time typing away on here asking if sending more money would be a good idea, book a flight to Malaga, make the short drive or taxi ride to Marbella and confront these idiots face to face.

  17. Select Global: http://companycheck.co.uk/director/916528795 ( why registered in Essex? )
    Also try taking a trip to Marble Arch to meet with your advisor or account manager. Just don’t expect them to be there, you’ll just be told “he’s currently out of office” etc etc. Why? Because they’re not there, never have been.

  18. I was persuaded by smooth talking Nick Taylor if that is his real name (dont think so)to invest my nest egg £37.000 in these worthless carbon credits but was influenced by the fact it was overseen buy collemans CTTS and as they fell under the english law they would be a cosha company but now they are now dissasociating themselves with it surely that cannot be right after taking my money they cannot just walk away and wash there hands of all resposibility andy tulloch

  19. I am also bought VER carbon-credit and it seems that I cannot exit my position. What shall I do; any advice? Complaining about my investment company to FCA would help? I do not stay in UK; am I be eligible to complain to FCA? Can we do something collectively to get our money back?

  20. I was sold CER’s at £2.80 per CER back in June 2013 and have seen the chart above showing that the price was £0.50 in June 2013 is there anything I can do as It looks like I was overcharged when I purchased them

  21. alternative markets who took on all 360 invest groups clients have informe that I am not a client because I refused to part with any more money,They dont even answer E Mails sent to them as I am a thorn in thier side a fly in the ointment because i told them i eventually discovered they where opperating a scam and will be brought to book about this and they will end up in jail for theft

  22. I do not get a reply from the issuers of my mcarbon credits CARBONEX SARL. OLGA GILL who tried to fob me of by telling me to contact my broker who no longer exist 360 Invest group Thieves under any other name and all employees working under false names

  23. I used to work for Christian delara in London and in Spain for 360 invest group alongside Shaun Ramsey and it is all a scam they sacked me for not making enough stolen money

  24. I too have been taken for £8000 by select global by the new scam craze of rare earth metals I was taken in by the high pressure sales pitch and the promise of great returns etc etc… I have been in regular contact with select global by several brokers there Matt Jones been one of them, although recently not been able to speak to him. I was promised an exit in September which of cause never came and now I am just been fobbed off every time I phone. Something does has to be done about these Con men!!

  25. Seems like ive been taken for £4000 for rare earth metals as well. I had supposed to exit in november i got in touch with a Simon Tuck,who works for Select Global by telephone he said he would e-mail my details for exit but he never did.Ive been trying to contact them ever since without joy.I agree something as to be done about these con men.!!

  26. For all people involved with Select Global or who have invested with them! After ringing everyday for the last month, I finally got in touch today and spoke to Simon Tuck, he told me that Select Global are going out of business as of January 28th, I voiced my anger and disappointment in the company, he assured me that the investment I had made with the Rare earth Metals are still in tact and can still be sold by to the supplier. And he promised to send me the contact details by tommorow. So I don’t know where this leave us all, on both the carbon credits and the REM’s please keep in contact if any one else has any updates.

  27. Select Global and REM’s.
    Yes….I’ve been taken too. I received an e-mail today to let me know that they have ceased trading and China Mineral Exchange are not answering their phones….etc.
    Simon Tuck is a new name for me. I’ve been contacted by Matt Jones, Adrian Hallmark and a Charlie Forbes.
    I blame myself for being taken in by their convincing sales pitch. No point in moaning about the loss…..my money has gone.
    Lesson learned. If something sounds too good to be true..It’s a scam.

  28. I to have scammed. I have been trying to contact china mineral exchange,also sheppard trustees without success.If anyone has any information can they please contact me thanks.

  29. Info for the last two people’s comments select global are still answering their phones for the next month I’ve been told by Simon Tuck who is supposed to be organising contact with China mineral I was given a contact email by the soliceters who dealt with the investment which is m.arif@china-mineral-exchange.com and Rodger Shephard Trustees is on 01158413949 keep on to them I have been but no further forward yet

  30. I’m just joining the ever lengthening list of good honest folk who have been taken in by the convincing sales pitch and promise of 30-40% profit over time.
    BRIC Global were the first company to do so, they are now being investigated for fraud to the sum of £2,000,000. CO2 Markets then started calling telling me of BRIC’S demise and their promise of brokering my assets and exiting them from the market……at a cost, very unwisely I went with them.
    Prior to BRIC going down SOL Emissions again made investing in carbon sound wonderful so, yes, I dipped my feet in the water with those scammers also.
    Fortunately, if you can call it that, I only shelled out £8500, a relatively small amount compared to some people but it does make you so so angry, one for being taken in but more so because these pieces of crap are fully aware that their actions are ruining peoples lives.

  31. @Ian Thorne (#32) – Thanks for this comment and I’m sorry to hear that you’ve also lost money to this scam.

    I deleted the last sentence of your comment because it was in breach of REDD-Monitor’s comments policy.

  32. has anyone joined Carter Campbell in the hope of selling their carbon credits. Their website is valid (carterandcampbell.com) and they have offered to sell my credits for £5.20 providing I lodge £4900 as a deposit which is placed not with them but the buyer. the deal will be completed by 30th Sept 2014 and is too complicated for me to understand fully but sounds very plausible. They have answered all questions and have been in business some 7 years as you can see from their website

  33. Look out for Omega Trading Ltd ( Reg Nr 8775542 ), they call themselves Omega Capital Group and were formed in November last year. Some of the same people work for this company as did for Select Global. Their greed caught them out by phoning a number only Select Global had and trying to get me to invest. WATCH OUT

  34. I have been in touch with peter sheppard about my rare earth metals. he as told me that they are in a warehouse and that they are trying to find a buyer to date without success, I still don’t hold out for any hope of getting anything back!!!

  35. Add me to the list of people who’s been had. I have invested 10.000 GBP in Rare Earth Metals with a plan to exit end of January 2014. E-mailing Tyrone Bennett and Adrian Hallmark last month was left unanswered. Calling Select-Global a week ago I got Simon Tuck on the phone. He would send an e-mail with details on how to go on from there. E-mail was never received. Now nobody is answering the phone and the web site is being updated.
    I start wondering if my purchased metals really exist and if so how to sell it. Any advise is welcome.

  36. Select global have ceased trading just like the other crooks out there they sold us something I do believe is real but in order to recoup money from the Rare earth investments we need a buyer, and that is what Select Global has failed to do! China Mineral Exchange still aren’t replying to emails so its i the hands of the Trustees for now to Find a buyer!

  37. I am joining the ranks of people who had been’had’ by 360 Invest ,Nick Taylor and Mark .So far I lost more that 22,000 pounds.I reported the solicitors Colleman of Kingston to the Law society for malpractice,who promised to investigate.Since all my e comunications with Colleman have been blocked.The FSA replied that it is not their jurisdiction.Please anyone let me know if there is any hope of recovering some of the money.I am an OAP

  38. I have invested in Rare Earth Metals for 10.000 GBP and exit strategy was set to early February 2014. No reply on e-mails sent to Tyrone Bennett and Adrian Hallmark. Calling Select-Global my call was answered by Simon Tuck (31/1-2014) who promised to send e-mail with full explanation. Never arrived and subsequent calls are not answered.
    I was told in the beginning that my Rare Earth Metals are kept in storage, but is that also a scam, I wonder.

  39. Carefull those with REM ( as I have ) I am sure that they will soon be chasing you for the annual storage and administration fee, saying that if this is not paid then you loose you REM.

  40. Has anyone any idea how to contact Alternative Markets or had any dealings with a William Golding so called Chief Trading Office? As it seems is usual i was guaranteed an exit sale this month but nothing is happening and it is impossible to contact them.

  41. I’ve also had dealings with William Golding, who led me to believe tha my CER’s would be able to be sold in the first quarter of 2014.Also they kindly wouldn’t charge me any commission on the sale due to the lower than expected value of them!.37.000 pounds down the drain.. How stupid was i to believe what i was told?
    Does anyone think it’s worth getting in touch with
    BBC’s Wathdog. Or is that just a waste of time?

  42. I am so pleased the government finally took some action and carbon scam merchants were arrested in several countries:USA,Spain,UK,Romania. I hope they got aNick Taylor ,a Kevin Hart Olga Giles and a Robin who sold me shares to the value of 21,000 pounds

  43. Stephen May ii ask when you last had contact with William Goldiing and what was his story about the exit sale. It sounds like we both had the same promises made. It would be good to with each other perhaps.

  44. Hey KD et all,

    I’m also in the same boat in relation to the REMs and not sure what to do about where they’re stored with Sheppard Trustees. even if it’s just a cue of getting my hands on the stuff itself. Dealt with Adrian Hallmark.

    What is the best way for me to get in contact with everyone?

    Many thanks everyone

  45. Jonathan Emery, the situation at the moment as I no it is I have spoken to Shephard Trustees and they are trying to find a buyer for the metals. I spoke last week and said they may of found someone, but again I don’t want to get my hopes up and will believe it when I see results but I’m in regular contact with him so I suggest you do the same. As far as Select Global are concerned they have disappeared! Phone and website are disconnected I too have reported SG to action fraud and they are investigating.

  46. Hi Nigel,
    I think it would have been late October or early November when i last spoke to William Golding.He told me he was confident that he’d be able to achieve a 10% profit on my investment, which is 20% lower than the orignal forecast. They were looking to able to sell CER’s in the first quater of this year.
    I thought done my due dilligence before purchasing. I had two telephone conversations with Colemans solictors and they seemed surprised at my questions regarding their client Carbonex. SARL.
    Dont really know where to go from here?

  47. Hi Stephen,
    I was told that a sale of CER’s was taking place at the start of February and that the company (American)had signed the contract last October so it had to happen. I talked with Mr Golding in mid January who told me the sale had been slightly delayed but would now take place end of February, monies arriving start of March. I would like to know who the Union Registry are in which solicitors Colemans, in my contract, claimed my credits were being held by a ‘Registered Nominee Company’ Do or indeed did the credits ever exist? It would be good to chat on the phone perhaps but not sure how we might exchange contacts?

  48. KD,

    Many thanks for your reply and update on situation. I have a found Roder Sheppard as one link away from me on Linkedin. I have spoken to a couple of people who have direct links with him, although they aren’t close to him per say. However from what i can gather he is stand up person and runs, in addition to his IFA, a thing called The Deal makers Club and has been networking in Leeds where i live. I will try to make contact with him once i’ve got a friendly lead, but if not will try anyway. If people want to get in touch you can find me on linkedin. Jonathan Emery

  49. The registry company for VCR credits is NYSE Blue VCS registry.the register is kept by Coleman solicitors Kingston upon Thames,The person in charge in 2011-2012 was a Tania Cleary. The person in charge from Carbon-ex Slr ,company registered in Louxenbourg is Olga Gilles.

  50. I received the following e-mail from Sheppard Trustees on 19th February informing me that REM storage fees will be applied.

    I replied and asked if instead of paying storage fees, for what may be a non-existant investment, I could take delivery and store the REM’s myself.
    So far no reply.

    Also worth noting that there is no name of the e-mail sender.

    Hi Crawford,
    I a pologise for the delay in replying, as you are probably aware a number of companies that introduced you to China mineral exchange have disappeared including China Mineral Exchange who do not appear to be contactable at present.
    I confirm that your purchase from China Mineral exchange is stored within a bonded warehouse at Steinwegs in the port of Rotterdam.
    Upon the transfer of the various oxides from china mineral exchange into my care a certificate was provided by china mineral exchange of the quality of your purchase this certificate bears the mark of Treibacher Industrie AG a large Austrian trader in large quantities of rare earths.

    I am in contact with Steinwegs regarding the storage of your investment, as your contract states there is an annual charge for storage I will be writing soon to confirm the fee’s.

    A number of investors have contacted me with a view to sell their holding I have not been involved with the buying or selling of the products but I am in contact with a number of investors and we have been checking the markets to try and source an exit strategy, if you wish to consider selling then please email me and will be liaising with these investors.

  51. As suspected, my post#45 on 11/02/14 has come true. Sheppards are now demanding £5884.00 for storage and other fees for my REMs. Working on the principle that if you don’t pay you will lose your fictitious REMs or if you do pay you will lose your real money.

  52. I wish to sell my investment in carbon credits bought through 360invest Carbon-ex registered with Coleman of Kingston solicitors.has anyone an idea of how to go about it? Solicitors are unhelpful

  53. ist comforting to know that Christian Delera is in hidding afraid to show his face along with his thief sorry chief seller Nick Taylor and will be brought to book verry shortly.Carma!! justice will prevail and these crooks will suffer.
    I wish i could meet them face to face but these cowards allways hide behind some guise

  54. With regard to REMs bought through China Mineral Exchange and Thompson and Cooks solicitors, it is worth looking at the contract. This does not mention that charges will be annual and recurring. Also by his own admission, Roger Sheppard has no experience of dealing with REMs and yet was the chosen source of expert advice from T and C. In addition, the contract does not mention that our purchases are a tiny component of a massive load and can only be sold if potentially hundreds of others sell at the same time – rather a fundamental point rather akin to buying a flat in a block of 10 only to find you own a 10% share of the entire block. They also offer the option of delivery to your home (plus VAT) which implies that we own a discrete package. I feel we should club together for legal advice as this is probably fraud. I have reported T and C to ACTION FRAUD and I suggest others do so as it is only the weight of numbers that force the police into action

  55. T and C threatened to take action against me if I publicly linked them to the Select Global fraud – so I have identified them to the police force investigating the fraudulent sale of REMs, to Action Fraud and to the Law Society. The police indicated that this was not the first time that this name had come up in conjunction with scams.

    In another point I see that Colemans were solicitors for 360 invest and for Select Global, I see a pattern emerging here as well.

  56. The Storage and Custodian Fees invoice I received from Roger Sheppard on 9th April refers to Appendix 3 of my agreement with China Mineral Exchange. There is no Appendix 3.
    I also understood that the 2% Brokerage, Custodian and Storage fees were one-off upfront payments.
    I have requested Sheppard Trustees to provide information as to how I can take delivery of my REMs.
    While my investment may be worthless it will be good to have something tangible to remind me how easily I was taken.

  57. Hi Miriam sorry to say you could not GIVE them away you have been scamed, you will be notified shortly by someone willing to get you out of it for a fee dont pay!!! accept the fact you have been dupped along with the rest of us? and try and move on. it is hard to bear but a fact!!

  58. there is no doubt collemans are in it as well they are trying to dissasociate themselves but they where party to ME being involved in this scam I foolishly invested because they where supposed to be the legal source acting for this scam according to Nick Taylor of 360 Invest or I would not have got myself involved. but according to collemans this is not the truth as they where only responsible for drawing up contracts.So who am i supposed to believe,You draw youre own conclusions????

  59. May I urge those of you involved in the Thompson and Cooke, Roger Sheppard issue to contact nisha.khuttan@sra.org.uk as she is the officer looking at them. Also contact ACTION FRAUD about T and C As the purchase agreements that we received do not have an appendix 3 and it states that we have purchased a consignment suitable for delivery if we desired, then there must be a strong legal case not to pay Mr Sheppard Steinweggs for the incredibly complex work they will be doing for us all over several years. If we stick together and get legal advice we can win this one as T and C do not look as though they have done their job properly.

  60. Another one looks like it has joined the likes of Select Global – Green Capital Consulting Ltd, has anyone any info on the company, they have some of my savings that they seem to be reluctant to letting go of.

  61. All, for those who have not yet reported Select Global dealings to the Police, find below the person dealing with it.
    Det Sgt 1857 Thomson
    Serious Crime Directorate
    Selectglobal@essex.pnn.police.uk
    I urge you all to report them and their associated dealers.

  62. Calling C Lamb, Paul, Jonathan Emery, KD, Jan Franks, David Smith and others. I believe that legally we should be able to successfully sue Thompson and Cookes as they have issued us with a sales document and failed to provide some important appendices. Roger Sheppard mentions appendix 3 but I, and others have been through all their emails and can find no mention. This also means that there will have been an appendix 1 and 2 we also have not seen or signed up to and perhaps others. This should make the sales agreement null and void and leave us with a cast iron case for refund, charges and interest. I am seeking final legal opinion. Anyone interested in joining what should be a very straight forward legal case v T and C, then please contact geoff.hackett@virgin.net

  63. Geoff (#73) The only reservation is, was there ever an appendix 3, maybe Sheppard is just trying to extend the scam by quoting a fictitious Appendix 3. I cannot see any appendixes identified on the paperwork I have signed, shall check the rest more carefully tonight.

  64. Roger Sheppard will risk going to jail by claiming funds from clients by the invention of a non existent clause in a legal contract and putting it in writing to several clients. He cannot be that stupid. Also remember he was the person chosen by T and C for their advice throughout. He is also FCA regulated (although not for REMs) and his career as a financial adviser would be over if convicted of something like this. A letter to T and c will son expose this. If there is no appendix 3, then there is no need to pay Mr Sheppard anything and T and C will be discredited by relying on RS for their advice throughout (see their letters)

  65. If Roger Sheppard has invented an appendix to a legal agreement in order to extract thousands of pounds this would be clear fraud. He would be discredited. lose his FCA approval and probably go to jail. If you believe this, should you be dealing with RS at all?

    As he was the nominated person by T and C to advise them on all issues and act as trustee, effectively being the only person to verify ownership of anything, we would still have a case against T and C. I will be taking legal action, I have 2 others on board but obviously those who fail to take on T and c will probably lose their money.

  66. Trying to contact Paul, Jonathan Emery, KD, Jan Franks and David Smith
    2 other REM investors have received favourable opinion that we have a negligence claim against Thompson and Cooke for failing to include appendices in the contract or even inform us of the existence of these appendices. These included the requirement to pay ongoing annual fees to Roger Sheppard as well as explaining that we had 14 days to pull out after reading these points.

    We are currently looking to instruct solicitors so we need to know if others wish to be involved in joint actions against Thompson and Cooke.

  67. Hi Miriam,
    T and C refers to Thompson and Cooke the solicitors who represent (or represented) China Mineral Exchange.

  68. Have only just seen this thread. I too have been asked by Roger Sheppard to pay for custodian fees. I spoke with him and he seemed sincere. He also mentioned they are tring to find a buyer. Problem he told me is that one particular lady does not want to sell, this causes a problem as they cannot break the consignment up. Any update on this, is it worth paying the fees?

  69. I forgot to mention I also contacted t&c and they told me its nothing to do with them.

  70. Well now Scooter.
    Roger Sheppard sounded sincere? I don’t doubt he did.
    So did Select-Global when they sold me the idea of Rare Metals.
    So did T&C when they sent me the incomplete CM-EX Terms of Business.
    Now Roger Sheppard sincerely wants me to fork out storage and custodian fees.
    So far, after three requests, he hasn’t sent me any proof that I own any REM’s. He tells me they are held in storage but when I contacted the company in Rotterdam they couldn’t / wouldn’t confirm and referred me back to Roger.
    When I contacted T&C they referred me back to good old Roger.
    Roger ignored my requests but took the time to send me an invoice for storage and fees.
    As far as I can see the only winner left in this REM game is Roger Sheppard the Trustee.
    Looks like Roger has this mess sewn up in his favour.
    No doubt he will collect his fees from some poor folk who don’t know yet that their investment has disappeared.
    Now they cannot break up the consignment. What consignment?
    As far as I know we all bought individual quantities at different times so how is it possible to lump them all together?
    Looking for a buyer but some lady doesn’t want to sell. Oh dear….another problem for Roger to solve while he rakes in his fees.
    As for me…..I’m out…..Move on…..Lesson learned.

  71. Geoff
    I would like to hear more about possible legal action. Have you written to T&C yet? also the Solicitors Regulation Authority?

  72. Multiple letters and emails to Thompson and Cooke answered by the repeated statement that they suggested that we took independent legal advice and that none of us asked for the CME terms of business so not their fault. We have obtained a barrister’s opinion but it would be wrong to publish it on this site. He did advise that we should not pay Roger Sheppard as should have made sure that we all saw the terms of business first. Multiple letters sent to SRA – contact is Nisha Kushan. I have repeated given her email out but we all need to contact them as they will respond based on the volume of complaints.

  73. Geoff
    I to am interested about action against Thompson and Cooke. I have been in contact with Essex Serious Crime Directorate, a detective Thomson.The letter I got back stated that they have closed the investigation against Select Global on the basis that the case has no realistic prospect of resulting in a conviction

  74. We need to write back to Essex police and point out the central role of the solicitors in laundering the money and legitimising the crooks. Stop them and we stop the crooks. The case looks stronger against Coleman’s as they undertook to validate the carbon credits and made other areas. With Thompson and Cook, they did tell us of terms of business but none of us insisted on seeing them. The fact that CME were impossible to contact may be difficult to prove – and not strictly T and Cs fault. If you send me an email at Geoff.hackett@virgin.net, we can discuss further but write to the police and report Thompson and Cooke to the SRA, an email to nisha.khusan@sra.org.uk

  75. E-mails to Sheppards asking for details of where the REM is stored, who my agent should contact when he goes to collect them and requesting a clearence cert to remove them were only answered by a request for storage fees amounting to nearly £6,000.

    I shall be reporting Shepards to the police for theift of goods, most likely end up in the “too dificult basket” though.

  76. I am personaly instigating proceedings against Colemans. as they dont seem to have any fear regarding this scam and will continue to help crooked companys help fleece innocent people of thier life savings without remorse.How bad does it get ??

  77. hi guys
    just wondering if anyone has any information on the guys in 360 invest. I dealt with a guy called Charles Denbigh in relation to Aston Lloyd.

  78. Omega Trading Limited’s christian delara company?

  79. I too invested just under £3000 for a bundle of REM oxides / total quantity 2kg via the office of T&C for my daughter Henrietta on the basis of a signed Agreement.
    This transaction was managed by Ms.Sue Holby for and on behalf of China Mineral Exchange via Select-Global.
    I assumed the metal oxides are / would be a sound investment and increase in value.
    There was nothing to indicate storage or administration charges were more than those included in the initial purchase.Furthermore, there was no statement about the goods being stored in Rotterdam.
    I thought nothing more about this purchase until l received a recent bombshell from this chap/Roger Sheppard on behalf of R Sheppard Trustees advising me to pay just a bit more than £106 to cover the admin fees and storage up to the end of July.
    This is outrageous,being there was nothing previous to say the goods were stored anywhere other than in the UK with a firm such as highly reputable specialist warehouse firm Codogan Tate. Specialist REM storage facility of London – with whom I have other oxide bundles stored;sold to me via another outfit of scammers.
    I’m all in favour of action against solicitors for failure to provide clear terms of business indicating trade clauses that may well have given us the chance to cancel the Agreement to buy.
    Count me in for anything that returns our investment money.

  80. I found this forum after a google search for information on Alternative Markets. William Golding took over from a guy called David Barclay, the former chief trading officer for Alternative Markets back in in October 2013. Mr Barclay was running several scams, rare earth metals through T&C plus fake IPO’s. Eventually sacked from Alternative Markets, Mr Barclay is still operating and contacts former Alternative Market clients trying to con money from them (updated June 2014). If he tries to contact you, please be warned.

  81. My apologies for not being in contact for a few months, my photography biz has distracted me from this. Yes I have also had same problems with REM and specifically Adrian hallmark. Have spoken with R. Sheppard a while back. I have a link to him on Linkedin. His fundamental business is sound as a financial advisor but he knows, and doesn’t profess, to know anything about REMS. He is merely a custodian and maybe naively agree des to this. I haven’t paid my storage fee and haven’t had a chaser about them. Please do get in touch with me, I would be happy to chat and join in any legal fight, subject to cost. I did a law degree a decade ago and have a few friends in the profession that may be able to offer some initial free advice. Jonathan@vector-photography.com 07989969701. Best to everyone

  82. Nine convictions linked to £70m boiler room fraud

    04 June 2014
    It seems that the scams are being perpetuated even though some of the originators are in prison. The same names and those of various solicitors appear to be involved with all the companies you mention. You should band together and demand action by the Serious Fraud Office here and in America. This boiler room scam is viral. It’s now involving India and China

    Two men were today convicted at Southwark Crown Court for their roles in what is believed to be the largest boiler room fraud ever pursued by a UK authority. Their convictions bring to nine the number of individuals convicted in relation to this conspiracy. The convictions and sentences of the other seven last year, in linked cases, can only now be reported fully.

    Today’s verdicts

    Jeffrey Revell-Reade, 49, an Australian national was convicted of one count of conspiracy to defraud in relation to an investigation that was launched by the Serious Fraud Office in 2007. From 2003-2007, a total of around £70m was obtained fraudulently from UK investors under a boiler room fraud scheme he masterminded.

    The court heard that Mr Revell-Reade set up the scheme, under which sales entities operating from Madrid sold shares in US-listed companies on a fraudulent basis. Investors in the companies bought shares that had restrictions on their resale for a 12 month period. When the investors came to sell the shares after the expiry of this period, they often found that they were unable to do so as they were worthless, and that the shares were in shell companies or companies that were not operating at all.

    Anthony May, 58, who lived in Switzerland and then moved to Spain, was also found guilty of one count of conspiracy to defraud. Mr May administered the processing of shares distributed to investors and managed the finances of the conspiracy, using and managing off-shore bank accounts to distribute the funds obtained as part of the conspiracy.

    Mr Revell-Reade and a third defendant, Robert Manning, 63, from Leeds, was found not guilty of one charge of corruption arising from the conduct of the fraud.

    SFO Director David Green CB QC said:

    “Over 1000 UK investors were defrauded by these criminals, who caused substantial financial damage and hardship. The victims were deliberately charmed, lied to and bullied, whatever it took to make them send their money to these criminals. The profits from this fraudulent scheme were used to fund lavish lifestyles featuring numerous overseas properties, wine collections, luxury yachts and private jet hire.

    “The convictions mark the culmination of seven years hard work by a dedicated team of investigators, lawyers and accountants at the SFO, and close work with other agencies. This case illustrates that key attributes required in an SFO investigation are determination and persistence, qualities necessary to follow the complex money flows and elaborate company structures in numerous jurisdictions.

    “I would like to thank the City of London Police, overseas law enforcement partners and regulators for their assistance with this wide ranging and successful investigation.”

    Related convictions

    Six individuals were sentenced to between three and seven years in custody in May 2013 as a result of the same SFO boiler room fraud investigation. These sentences followed the defendants being convicted by a jury on an indictment containing a single count of conspiracy to defraud.

    Due to reporting restrictions, the outcome of the trial has only been able to be publicised fully today. The six defendants formed the senior management and operations team for three Madrid boiler rooms and conspired with Mr Revell-Reade and Mr May to defraud investors with or though the entities Tresaderns & Partners SL, Price Stone Group SL and Anderson McCormack SL.

    The defendants were arrested between 2007 and 2009 and were charged in 2010.

    Their details and sentences are listed below:

    Daniel Gooding, aged 39, from Brentwood, Essex- 7 years in custody

    Shaun David Rumsey, aged 33, from Basildon, Essex – 5 years in custody

    Philip Morris, aged 38, from Biddenden, Kent – 5 years in custody

    Jon Steven Frank Emery, aged 36, from Romford, Essex- – 5 years in custody

    Ian Hughes, aged 34, from Hainault, Essex – 4 years in custody

    Emma Farmer, aged 41, from Brentwood, Essex – 3 years in custody

    A seventh defendant, Michelle Coleman, aged 62, from Brentwood, Essex pleaded guilty to three counts of money laundering. The total laundered sum was £252,425 of which £158,000 was retained by Ms Coleman personally.

    Following her plea, the defendant was sentenced to 21 months imprisonment, to be suspended for two years.

    A confiscation hearing concerning Ms Coleman is scheduled to begin this month, while confiscation hearings for Mr Gooding, Mr Rumsey, Mr Morris, Mr Emery, Mr Hughes and Ms Farmer are scheduled to begin in August.

    Notes for editors:
    1.A boiler room fraud involves a business, often from overseas, persistently pushing the urgent sale of over-valued or even worthless shares in a company.
    2.The investigation lasted seven years and was codenamed Operation Steamroller.
    3.Notable assistance was provided by New Zealand’s Attorney General Office, the Hong Kong police, the US Securities and Exchange Commission and FINRA, the US Financial Industry Regulatory Authority.
    4.Reporting restrictions were in place due to risk in prejudicing the outcome of this trial which has ended with a verdict today.
    5.Mr Revell- Reade was extradited from Australia at the request of the UK on 1st February 2012 and Mr May returned to the UK under European Arrest warrant at the request of the UK on 6th September 2012. In both instances arrest warrants and extradition proceedings were conducted here by SFO, then by overseas authorities on behalf of the UK; both men were escorted back to the UK with assistance from City of London Police officers.
    6.The value of the fraud is estimated to be £70.2m or $119m ($108m + £6m).
    7.The SFO is an independent government department responsible for investigating and prosecuting serious and complex fraud, bribery and corruption. It is headed by the Director, David Green CB QC, who exercises powers under the superintendence of the Attorney General. These powers are derived from the Criminal Justice Act 1987.
    8.Please contact SFO Press Office on 020 7239 7316 / 7004 or 07823 361 663, press.office@sfo.gsi.gov.uk or visit http://www.sfo.gov.uk
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  83. I was almost taken in by this scam B UT fortunately for me I did smell a scam and avoided it.

  84. Is this 360 invest the same company who was involved with the Ukrainian deal and had a salesman called Charles Denbeigh there.
    This also involved Colemans.
    Has cost investors a load of cash.

  85. Is this 360 invest the same company that was involved with the Ukrainian deal that has seen investors very concerned. This also involved Colemans ccts and a guy called Charles Denbigh

  86. this is the same company and i am delighted to say some of them have been charged by the police but the mane man Nick taylor is still evading capture but we know where he is hiding Nick taylor is not his real name???

  87. That’s the one! and Colemans solicitors. have a lot to answer for

  88. Is there any update on this. I was taken to the tune of £15000 by 360 Invest Group. Then they disappeared off the face of the earth. Got no contact, no record of the useless Carbon Credits. Total mess

  89. Try Colleman Solicitors of Kingston. Alternatively Olga Giles of Carbon -ex Brussells. If you get any joy let me know MV

  90. Been contacted by Brook Court re sale of my carbon credits. They are very vague say they can sell them in 48hours.An obvious scam, anybody else been contacted.

  91. Yes, by a company called Exit Statagists Specialists, based in Dubai. I had a friend go to the address quoted, it is just one room with a secretary answering the phone for multiple companies using that address.

    I am going to stringing him along, if I get any info out of him I will post it here.

  92. Cheers Miriam. Not holding my breath, but will let you know how i get on

  93. Have just been contacted by Sheppard’s who say they have a buyer for all REM held by him. The buyer is German and has offered $80,000 for the lot and decision must be made by tomorrow. I am not too sure how many others are out their with REM at Sheppard’s but just my holding was for £125,000.

    Just as another note about Sheppard’s, they are still refusing to give me an address and paperwork so I can collect my REM.

    I can see the sale going though no payment arriving but that will no longer be Sheppard’s problem as you will have made the agreement with a non-existant buyer, suddenly Sheppards off the hook for anything. I still do not believe he is not in this up to his neck.

  94. Paul…….I too received an e-mail this morning from our dear chum Roger.
    He tells me that once the majority decides whether to sell or not he will then work out how much we each receive.
    Why couldn’t he crunch the numbers before sending the e-mail?
    I wrote off the idea of ever seeing my money again weeks before Select-Global disappeared.
    However, my “investment” was for the minimum quantity.

    I’ve tried searching the internet for Gronmet in Dusseldorf without success.

    No doubt Roger will need to deduct storage and other fees from the USD 80K.

  95. I have a sneaky suspicion that the storage costs may equal $80k. The reason he did not crunch the numbers first is because, like a true scammer, they never tell you the real numbers up front.

  96. £9.00 per kg is what i just found out. Token amount in a fire sale.

    Regardless of what we paid (as it was way too much) does anyone have any idea of the true market trade value. I.e if sold direct to a producer of goods from the metals?

    I’m not saying it it is but maybe this amount is close to the true market (market value being whatever someone will openly pay for something at the current period in time). I have searched high and low for a buyer, contacting many institutions and advisers in my network, but to no avail.

    Peoples thoughts much appreciated

    Jonathan

  97. “Offer 12th August 2014

    Dear all, Rare earths investors,
     
    Following on from our email Monday the 11th August 2014 regarding the offer from Grondmet I have worked out a ball park figure from the offer of around £9.00kg for the rare earth oxides in storage.
    This is for you to review your holdings as a decision is needed before 12.00pm UK time.
     
    Regards
    Sheppard Trustees Ltd”
     
    I received this note without letter head earlier today. Obviously it’s just another scam.
    My 10 kg of REM would bring me back 70 GBP out of 10.000 GBP spent.

  98. Sheppard Trustees have just come up with an offer of £9.00 per Kgm for rare earths bought through China Mineral Exchange about 18 months ago. These originally cost me about £775.00 per Kgm. I have to decide in hours.

  99. 13th August 2014
    Letter from Roger Sheppard:
    Quote:
    Offer 12th August 2014

    Dear all, Rare earths investors,

    Following on from our email Monday the 11th August 2014 regarding the offer from Grondmet I have worked out a ball park figure from the offer of around £9.00kg for the rare earth oxides in storage.
    This is for you to review your holdings as a decision is needed before 12.00pm UK time.

    Regards
    Sheppard Trustees Ltd

    Unquote.

  100. of Sterling & Bond exit statagists specialists, based in Dubai did not take long to show their hand, their offer was
    I will get $9 a unit, you match the sales price with fresh capital and I will invest at 12% or 14% depending which calc you look at. Definate scammer.

  101. I just contacted Grondmet and received a reply from Maaten Gassmann confirming the offer.

    Hi
    I have been told that your company has made an offer of USD 80.000 to Sheppard Trustees in the UK for a consignment of rare earth metals held by a group of investors. This to be completed by 12.00 13 August. This values our holdings at about £9 /Kg.
    Can you confirm this please?
    Regards
    —–
    Good Day,

    yes we can confirm this.

    Mit freundlichen Grüßen/
    best regards
    Maarten Gassmann

    Grondmet GmbH & Co. KG FON: +49 (0)211 57725-0 Persönlich haftender Gesellschafter/Komplementär
    Luegallee 79 FAX: +49 (0)211 57725-55 Grondmet Verwaltungs GmbH
    D-40545 Düsseldorf Mobil: 0173/7774900 Vertreten durch den Geschäftsführer: Steven Paul Gassmann
    AG Düsseldorf HRA 17955 Email:m.gassmann@grondmet.de AG Düsseldorf HRB 50491
    Steuer-Nr.: 103/5825/1351 WEB: http://www.grondmet.de
    Steuer-Nr.: 103/5731/0808

    Wir bitten Sie vorzumerken, dass wir ab 10.6.2013 umfirmiert haben auf
    Grondmet GmbH & Co. KG (ohne weitere Zusätze)
    und wir zur Luegallee 79 umgezogen sind. Alle anderen Koordinaten unverändert.

  102. Mail just in from Roger Sheppard. The rare earth will be sold at £8 per kg. yes £8. This 100% confirms was a scam. Average price purchased per kg was £800.

  103. Latest from Roger Sheppard
    Dated 13th August
    Quote.
    Nothing will be happening today, as I have managed to get the decision deferred until the end of the week.
    Unquote.
    I do think that Roger must be monitoring our messages.

  104. Working on the figures to hand – USD 80,000 paid to investors works out as £8-9/Kg means that as we originally paid about £800/kg, we have collectively paid an amount approaching £5 million yet they are offering only £48,000.
    Someone is screwing/has screwed us totally!

    New mail from Roger – Nothing will be happening today, as I have managed to get the decision deferred until the end of the week.

  105. What has happened to Roger? It is now the end of the next week and no further communication.

  106. He is playing the typical scammers game, keep the promises just out of hands reach, followed by an excuse then a new promise.

  107. Dan,

    Easy mistake to make, but it’s not Jon Emery posting here, it’s me Jonathan Emery, hard working humble Surveyor and photographer from Leeds, yorkshire. If you’re not convinced see my linked profile etc etc. Plus I’m much better looking;) Sadly I was scammed by Adrian Hallmark. Sullied our good family name!!

  108. I have reported Roger Sheppard to Action fraud and I suggest we all do the same. How can any reputable agent expect to charge more in one year’s fees (based on initial valuation) than the total value of his client’s holdings? He is now implying that a 51% vote to sell will result in a total sale. We all have to sell at the same time, and by the way it is rapidly deteriorating despite this very expensive storage. By the way, I am still waiting for a certificate to prove ownership of anything.

  109. More info on dubious company that offered to sell my CC if I gave them £250k for them to invest on my behalf.
    Contact Name
    Company Sterling and Bond
    Address Unit 302, Icon Tower, Tecom, Dubai UAE
    Tel: +971 4 276 5443
    This company deals with Voiptel International Based in Russia, CEO Victor Sergey and Red Leaf Business Services Ltd Director Victor Falade

  110. Another one to watch out for is -Green Capital Consulting, James Smyth ( consultant ) or Andrew Wilson( Director of Trading with an American accent ).
    Selling fictitious USA Hydro Power credits ( through EAC Consulting Administration based at 10 Collyer Quay, Singapore )
    Tel +44 (0) 207 158 0844

  111. What is latest on Roger Shepphard. Everything has gone quiet regarding the stupid offer he made to sell the rare earth

  112. Roger shepherd is the financial adviser for Capital Alternatives who also has his own company Independent Advisors.
    but every thing leads back to the same people again.
    As much as they try and hide everything look capital alternatives or Sterling & Bond that is where your money is.

  113. Thanks to everyone who has identified names of scammers who are supposed to be working out of Dubai, including their supposed local lawyers. I have passed these and other names to a friend who is very promenent in the Dubai police, he has now made immigration there aware of them as well. He has said that he will be monitoring this site, occassionally, for any new names that pop up, so keep them coming.

  114. I received the following by e-mail today.

    November 2014

    Re. Rare Earths Metals non payment of storage fees.

    Storage Fees

    I am writing to inform you as a REM investor, the present Storage position.

    Outstanding storage fees due for payment to C. Steinweg- Handelsveem B.V.Storage.

    Sheppard Trustees Ltd facilitates the storage; administration collection of the storage fees from investor’s and forwards them to the Bonded warehouse in Rotterdam. Number of you have paid the fees and I thank you.

    However the Trustees are now in being placed in an impossible situation that the fees cannot be paid to Steinweg due to non payment by a number of investors.

    REM Stock List

    I can confirm that Steinweg have provided a list of Rare Earths Materials stored in bonded warehouse.

    Outcomes of Continuation of non payment
    1.Steinweg to sell REM to recover their costs and pay out any residue if any.

    In the event of a force sale the Trust will forward any residue back to investors. Once this has been done the Trust will close after its fees and costs have being deducted.

    I hope this makes the position clear.

    Yours

    Sheppard Trustees

  115. My predictions of Feb and Aug this year ( see above ) have now come true. I have had an e-mail from Sheppard.

    Sheppard are now selling the fictitious REM to pay for the supposed storage charge, game over everyone got away with it, they can now blame the investor for not paying storage.

  116. Roger’s previous contact to try to get us to pay for storage made no sense. He wanted us to either sell the REMs for about 1% of what we paid for them or pay twice that amount for a year’s storage. All this without anyone ever giving us proof that they existed. Steinwegs claimed to have no knowledge of them from the information I was able to give them. Jan Willem Lensink of Steinwegs said
    “Please be advised, Sheppard and Thompson & Cooke are not listed as customers of ours.
    Neither do the attached documents referring to material being stored with us.”
    How can I get proof of their existence and can anyone sell them for a reasonable sum?
    In his “other life” Roger appears to be an honest guy. He is a major figure in the dealmakers club in Nottingham (dealmakersclub.co.uk) and I believe he is FCA approved so what is he playing at?
    What were/are his responsibilities as Trustee in our transactions for the REMs and has he any liability for the fiasco?

  117. I was told that I was buying yttrium pure metal and not oxide. I still have no certificate but Roger Sheppard sent a random purity certificate for oxide.

    The question is this: did anyone ask the question of Thompson and Cooke at the time of purchase as to whether they were getting metal and if so what purity.
    Oxide is a fraction the price of metal and the scam is that we paid for metal and got oxide along with the ong-oing fees for metal. The contract states Yttrium and all letters prior to sale refer to metal not oxide.

    I would urge people to go back over their correspondence and emails to see if they questioned whether they would be getting metal as opposed to the oxide that we seem to have..

  118. I was told it would be metals and the invoice from Thompson & Cooke says “Rare Earth Metals” -not oxides but a later note from Roger as “Trustee” says “Metal Oxide” so there is inconsistency here. What is the duty of a Trustee?

  119. Thompson and Cooke have threatened to take action against me if I publicly linked them to the Select Global fraud. So I shall not do that.

    My documents from the Select Global legal pet did not mention anything other than these were Rare Earth Metals and not oxides. I can only conclude that Select Global legal pet was either complicit in that they knew that what they were selling was not what they had written in their contract or were unable to understand what they were writing a contract about.

  120. I was interested in all comments regarding China Mineral Exchange and Roger Sheppard Trustees. I too was conned and completely taken in by high pitched telephone sales with regard investing in REM. I invested 10K which I think at the time I was doubtful of but on paper it looked good. Also I paid for annual storage fees, and upon requesting to sell my messages were ignored!! Of course there was nothing stored to sell!!

  121. Looks like 360 may have made a comeback, in a slightly different format. I received an e-mail about making in excess of £4,000 a month doing less than 10 minutes work a day trading on the currency and financial markets. You only need an easy one day course with nothing difficult to learn. The e-mail came from info@marketing.e360media.com

  122. @Paul (#140) – Interesting to note that marketing.e360media.com is registered to Gurdeep Walia. His email address is alexwaliauk@….com – the man who used to work at Capital Alternatives. Here’s what he has to say about that part of his CV:

    “As far as Capital Alternatives yes I worked there as a consultant for just over 1 year and so did Kristin Gander, neither one of us were directors of any sort which you can view from the FCA transcript, it highlights all the directors involved. However I would not link myself to him or anybody else to Capital Alternatives, I was there to do a Job. JUST TO DEMOSTRATE MY CHARACTER I WILL STATE THAT WHEN I BECAME AWARE OF THE MOTIVES OF THE COMPANY AND DIRECTORS I LEFT IMMEDIATELY AND I WORKED WITH A NUMBER OF RELEVANT AUTHORTIES SUCH AS THE FCA, EVEN TO THE POINT I WAS A WITNESS FOR THE FCA IN THE RECENT CASE AGAINST CAPITAL ALTERNATIVES IN THE HIGH COURT.

    e360 Media has a website. It is registered in the UK and its sole director is Gurdeep Singh Walia (AKA Alex).

    There’s also a company called e360 Alternatives, based in Slough, which has the same same company registration number as e360 Media. e360 Alternatives is offering 157% returns on biofuel bonds, among other things:

  123. @Chris (#141)Walia now seems to have branched out using a company name of Direct Market Touch Ltd ( using the e360media email address but looks like he may have hijacked some other company name ) who now offering returns of 1650% on an industry that will take several years to return more than 5%, namely the oil and gas sector.

  124. I contacted Deal Makers Club directors quite a while ago to advise of the shady deals their director Sheppard has got into, quoting several deals and scam companies he has tight relationships with, mainly to advise that their web site company statement and actual actions are at loggerheads with each other. Gone very quiet from the other directors. I would suggest a proper due-diligence on Deal Makers Club ( Nottingham ) before you have any dealings with them.