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    I would like to warn investors about 'The Premier Diversified Property Fund'. I have had £20,000 invested with this shower for over 8 year. I have been trying to withdraw the investment for three years and I am met with a continued refusal to release my money. They keep saying that they don't have the money to pay out to investors without selling properties but when they do sell property they use the money to pay off their bank loans rather than paying out to investors. Keep away from them folks.
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    Why did you invest in a shower? Jokes aside. Have you contacted the financial ombudsman?
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    sounds like Ponzi scheme.
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    you've been robbed
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    (Original post by balotelli12)
    sounds like Ponzi scheme.
    Ironic these things are even called ponzi schemes owing to how stupid his was and generally speaking brilliant [relative] these are...
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    (Original post by Bill_Gates)
    Why did you invest in a shower? Jokes aside. Have you contacted the financial ombudsman?
    It is an 'offshore' investment and I'm told there is no ombudsman if it's offshore.
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    (Original post by Sparkly eyes)
    you've been robbed
    Yes, I think you're right.
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    (Original post by pladecalvo)
    It is an 'offshore' investment and I'm told there is no ombudsman if it's offshore.
    I don't think you know what your talking about every investment, in Europe has its regulatory body. It was part of the EU to protect investors. It comes with status disclosure, a company can't do business without it.
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    (Original post by cl_steele)
    Ironic these things are even called ponzi schemes owing to how stupid his was and generally speaking brilliant [relative] these are...
    Yes, but a Ponzi Scheme would be more convoluted then this, sounds more like a bluff or fantasy.

    Everything in Europe is regulated and the bodies are in guidelines with EU Legislation. I.E. if you had a problem like this a regulatory body does have a ombudsman and a timeframe in which to respond. If he did have a problem, it would have been resolved within a max of 8 weeks and they would of had to follow the precedent set or risk further financial sanctions by the relevant bodies.
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    Unfortunately this is common for highly leveraged property funds which invested in real estate before the financial crisis. There only had to be a small drop in property prices and small increase in the cost of debt before the investment fund finds itself in trouble. Hopefully you will be able to get your investment out as the property and financial markets recover.

    They are paying the bank rather than investors because they have no choice. It will be a term of the loan agreement that the bank gets paid first and that the fund is only allowed to distribute money to investors when it has a certain amount of money. If the fund paid investors before that threshold is reached, the bank would be entitled to call in the loan and repossess the properties.

    (Original post by SloaneRanger)
    I don't think you know what your talking about every investment, in Europe has its regulatory body. It was part of the EU to protect investors. It comes with status disclosure, a company can't do business without it.
    This fund is an UCIS or unregulated collective investment scheme. This is an investment which cannot be sold directly to consumers, only through a financial adviser, so it is not regulated by the FSA or any European body. It is regulated in the Isle of Man, but this is "light touch" regulation.
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    (Original post by jacketpotato)

    This fund is an UCIS or unregulated collective investment scheme. This is an investment which cannot be sold directly to consumers, only through a financial adviser, so it is not regulated by the FSA or any European body. It is regulated in the Isle of Man, but this is "light touch" regulation.
    Yes, this is what I was told. So I might as well write it off then?
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    (Original post by SloaneRanger)
    I don't think you know what your talking about...
    Neither do you according to jacketpotato. :rolleyes:
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    (Original post by jacketpotato)
    Unfortunately this is common for highly leveraged property funds which invested in real estate before the financial crisis. There only had to be a small drop in property prices and small increase in the cost of debt before the investment fund finds itself in trouble. Hopefully you will be able to get your investment out as the property and financial markets recover.

    They are paying the bank rather than investors because they have no choice. It will be a term of the loan agreement that the bank gets paid first and that the fund is only allowed to distribute money to investors when it has a certain amount of money. If the fund paid investors before that threshold is reached, the bank would be entitled to call in the loan and repossess the properties.



    This fund is an UCIS or unregulated collective investment scheme. This is an investment which cannot be sold directly to consumers, only through a financial adviser, so it is not regulated by the FSA or any European body. It is regulated in the Isle of Man, but this is "light touch" regulation.
    The first question you have to ask yourself is......UCIS cannot be promoted to the general public in the UK, but can be sold to certain investors including:

    Certified high net worth investors (people with over £2 million pounds), I don't see how he could just put £20,000 into it, that would like chicken feed.

    Sophisticated investors

    Self-certified sophisticated investors

    Existing (suitable) investors in UCIS

    All from here: http://www.fsa.gov.uk/smallfirms/you...ent/ucis.shtml

    GG
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    (Original post by pladecalvo)
    Neither do you according to jacketpotato. :rolleyes:
    If it is real.....see an IFA and a solicitor:

    http://www.fsa.gov.uk/smallfirms/you..._factsheet.pdf

    Reminds me of the Roddick Serve - Game/Set/Match.
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    (Original post by pladecalvo)
    Yes, this is what I was told. So I might as well write it off then?
    Possibly. The fund still appears to be running so the banks have not called in the loan. The "big squeeze" in real estate finance is over, most banks rushed to exit the real estate market during the crisis making it almost impossible for real estate investment funds to refinance their debt. The fund appears to have survived the danger zone and I can't see the commercial property market falling much more in the short term so hopefully you will get something out at some point... though no doubt you will get less than what you invested.
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    (Original post by jacketpotato)
    Possibly. The fund still appears to be running so the banks have not called in the loan. The "big squeeze" in real estate finance is over, most banks rushed to exit the real estate market during the crisis making it almost impossible for real estate investment funds to refinance their debt. The fund appears to have survived the danger zone and I can't see the commercial property market falling much more in the short term so hopefully you will get something out at some point... though no doubt you will get less than what you invested.
    They informed me yesterday that the original investment of £20,000 is now worth £7,000...but there is zero chance of getting it. Disaster!
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    (Original post by pladecalvo)
    They informed me yesterday that the original investment of £20,000 is now worth £7,000...but there is zero chance of getting it. Disaster!
    That's unfortunate

    Eventually the debt will get paid off, at which point you should be able to get your money out once the property rents are going to investors rather than the banks. But who knows when that will be.
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    (Original post by jacketpotato)
    That's unfortunate

    Eventually the debt will get paid off, at which point you should be able to get your money out once the property rents are going to investors rather than the banks. But who knows when that will be.
    As I'm 63 years old now, I suspect I will be long gone by the time that happens. You save for your retirement and some ******* steals it from you!

    Thanks for the advice anyway bro.
 
 
 
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