Complaint: Alleged financial scam

on 28 October 2020 about Daniel Johns Group in category Financial Services

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My complaint:

I’m reaching you on behalf of a group of investors dully identified that have purchased or advanced monies for purchasing developments of Daniel Johns Group (DJ) (company number 08559585, www.danieljohns.co.uk).

We all have strong reasons to believe that we might have been victims of an allegedly complex fraudulent investment scheme organized by DJ, owned or controlled by Mr. Khalid Iqbal Bhatti and his family, the ultimate beneficiary.
The scheme has affected hundreds of investors from all over the world, mainly from UK, HK and UAE, and it amounts to tens of millions of GBP.

The modus operandi of the alleged fraudulent investment scheme was roughly the same in all DJ’s developments:

1. Put in the market through a broker a buy to let investment with high yield guaranteed returns (6% to 8% for 5 to 10 years), usually offices or serviced apartments.
2. DJ recommended their own preferred solicitors.
3. The contract and sub-lease were signed with one of DJ’s companies, the rental agreement that guaranteed the income with a management agent (MA) (VK – Victoria Knight Ltd., RA – Red Admiral Ltd., among others). They assured the MA had no relation with DJ, hence discharging DJ from any liability.
4. The MA does not pay andor is liquidated.
5. DJ does not give the owners access to the development; so, we don’t know if it was completed or is operating. There is evidence that some units do not physically exist.
6. The other method is that the properties are never built at all, and DJ pockets the money of the advances.

All companies are related, although DJ say they are not in the strict sense of the Companies Act. VK, Fulmer Ltd and Fast Item Ltd., also apparently involved in the alleged scheme, were managed by family members, although not in the 1st or 2nd degree, hence escaping the range of Companies Act.

0 0 vote
Justified complaint?

Suggested solution:

Complete the developments and pay us rents due

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