Currency Exchange

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AndaluzCampo
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Currency Exchange

Postby AndaluzCampo » Wed Dec 08, 2010 9:43 pm

Some news on Crown Currency for those who may be affected.

http://www.moneysavingexpert.com/news/t ... ssing-cash

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concorde
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Re: Currency Exchange

Postby concorde » Thu Dec 09, 2010 6:45 pm

Thanks for posting that AndaluzCampo,

still loads of action going on behind the scenes.

2 directors arrested , then out on bail.
Serious Crime Squad involved.
There was a debate in the House of Commons the other night about this and other Forex companies.
F.S.A. squirming, Treasury Minister clueless.

It's better than a pantomime, although a nightmare scenario for those badly hit.
I'm always disappointed when a liar's pants don't actually catch on fire.

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Mowser
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Re: Currency Exchange

Postby Mowser » Wed Feb 23, 2011 12:47 pm

Update ... 22nd February 2011
Police investigating the collapse of overseas cash firm Crown Currency Exchange have made six further arrests today.

Devon and Cornwall Police arrested three men and three women and searched five properties.

The six were arrested for money laundering and fraud offences at addresses in Cornwall and Hertfordshire.
Dave

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concorde
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Re: Currency Exchange

Postby concorde » Fri Feb 25, 2011 9:44 pm

I know Mowser, it is good news although they have been allowed out on bail until July.

We're hoping to get an interim payment soon and although will probably be a small amount, hopefully if their assets are seized, including the 900k house that was bought around the time of collapse, and the houses in France etc, who knows :thumbup:

This could make a good T.V. series, I could play the part of a creditor shouting 'String the b******s up'
I'm always disappointed when a liar's pants don't actually catch on fire.

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alexander1
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Re: Currency Exchange

Postby alexander1 » Wed Mar 23, 2011 1:55 pm

Posted today on Martin Lewis' site: MoneySavingExpert.com
Thought some of you might be interested.

'Police investigating the collapse of overseas cash firm Crown Currency Exchange have made a further arrest this morning.

Officers from the Devon & Cornwall Police Economic Crime Department detained a 66-year-old man at a property in Cornwall.

He is currently being detained at Camborne Police Station but his identity has not been revealed, though he has not previously been arrested as part of the probe.

In addition, officers from Devon & Cornwall Police, assisted by the French authorities, have searched a property in Bergerac, France. No-one was arrested at this address.

No details have been given regarding the property though ex-Crown director Peter Benstead has a home there.

A police spokesman says: "Police continuing the investigation into the collapse of Crown Currency Exchange & Crown Holdings Ltd have this morning, Tuesday, March 22, 2011, made another arrest."

Previous arrests

Today's development comes after Devon and Cornwall Police arrested three men and three women and searched five properties last month.

Police have linked the collapse of a cash for gold company called Mayfair and Grant to this criminal investigation.

Two men were arrested in December over Crown's collapse, believed to be Benstead and his fellow former director Edward James.

Around 13,000 Crown customers are owed a combined £20 million for foreign currency they ordered which never arrived after the firm collapsed in October. However, only 9,500 have so far identified themselves to administrators MCR.

Administrators say Crown's assets appear to be little more than the £3.6 million in cash and equipment detailed in the creditors report to spread between those owed money.

However, the value of the pot could rise if assets are seized from the company's directors, which can only happen if wrong-doing is proven.'

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concorde
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Re: Currency Exchange

Postby concorde » Wed Mar 23, 2011 11:50 pm

Love the part that only so many creditors have identified themselves, no doubt some may have lost a small amount and don't want the hassle /embarrassment of being identified.

Or, I am hoping the rest are some sort of money launderers/drug barons and will get the crooks one way or another.

I have been reading a lot of action thrillers lately and have read of some amazing ways of getting rid of bodies after they have been dealt with in some eye-watering ways.

However, since I am a law abiding citizen, I will settle for getting my little bit back and seeing these smarmy gits losing their ill-gotten gains and being banged up in prison.
I'm always disappointed when a liar's pants don't actually catch on fire.


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