Scam recovery firms shut down after losses hit £350k


Six companies that promised to recover lost investments have been shut down by the High Court after scamming customers out of over £350,000.

The firms – of which five were connected – targeted people who had previously made investments in areas such as carbon credit from other companies already wound up.

Claremont Partnerships, Brookepoint, Brookcourt Trading, Cotexx Trading and Manor Trade demanded hefty ‘advance fees’ in exchange for ‘exit strategies’ from failed investments.

Customers paid out around £30,000 to the companies between March 2014 and January 2015.

The Insolvency Service investigation also discovered Claremont had falsely claimed its guarantee of returns was underwritten by AXA.

The other company, Etonstanley, targeted elderly and vulnerable people who had invested in carbon credits resulting in at least £51,800 of losses between January and March 2014.

Insolvency Service chief investigator David Hill says: “These companies operated what were effectively scam boiler room operations that had no prospect of retrieving lost investments.

“The Insolvency Service will not allow such companies to fleece vulnerable and honest people. We will investigate these abuses and close down companies if they are found to be operating against the public interest.”