The following report will be of general interest to readers, but there will be more to come as journalists have so far covered this case mainly by personally highlighting Liam Collins and David Bone Jr.—which of course is yet more publicity for those attention junkies. Reporters have not seriously looked into the way in which the bona fide investors were deceived, the damage that was done and the distress it continues to cause. All this needs rigorous examination. Here is the link:
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This Blog is dedicated to making public some of the business activities and methods of Liam Collins, David Bone Jr and their associates. In the spring of 2010, the present authors invested in Collins & Bone (C&B), who were offering an enticing 8-10% interest on the basis of buying houses for cash, renovating them and letting them out to students. We were assured that our money was secured against houses that they owned, including their own homes and the properties held by their associated company, Castle & Gatehouse (C&G). We have emails and brochures that confirm these details, as do others who invested on this same basis at around the same time. The idea worked for us for over a year, then in November 2011 they told us they were insolvent. They refused our every request for clear accounts, which led us to suspect wrongdoing. We began an investigation and then started this Blog. We found our suspicions confirmed: other investors had lost sometimes quite large amounts to C&B and its predecessor CBS, and all requests for repayment were adamantly refused. These people use and have used so many names that we found it necessary to compress them into CoBo (for Collins & Bone) and Coboco (for the whole bunch of them – there are quite a few!) Note that there is an index in the margin at the right hand side.
Sunday, 8 September 2013
Readers may be interested to glance at an article published in today's Newcastle Sunday Sun, which reprises the partners' crooked dealings. It's only of very minor interest, however, since it mainly offers more publicity to the attention-greedy Collins than insight into the frauds that he and his partner have perpetrated. We suppose that this local paper is inclined to be just a little indulgent towards 'one of its own.' Better that, than getting a brick through the window, perhaps? This is the link:
In the article, Collins protests that he is actually innocent of what the Official Receiver has found in the course of his investigation and he refers to the long-winded but unconvincing statement in his defence that he sent the Secretary of State. Here is what the Official Receiver wrote to us this Friday, 6th September:
"In giving the bankruptcy undertakings, Liam Collins and David Bone Jr signed that they did not dispute the areas of misconduct that the Official Receiver had made against them. As you rightly say, if they had wished to dispute the matters, the forum for this would have been the Court."
They're wriggling on the hook.
Posted by IFS at 14:22
Wednesday, 4 September 2013
CoBo's creditors have today received an avalanche of emails from Liam Collins, protesting innocence, but instead it just convinces more and more people of his total untrustworthiness. Frankly, the only sentence that caught our eye appeared in the first paragraph of his covering letter, to wit, "We have our reasons why we did this but we simply should not have done so." Our response, to cover all of those emails: "You shouldn't have done any of it. Stop arguing, admit your guilt without further quibble and get a reduced sentence."
Posted by IFS at 20:08
Tuesday, 3 September 2013
The Mail Online has today published an article on Collins and Bone which will be of interest to all readers of this Blog, viz.:
Here's the link:
Here's the link:
Posted by IFS at 16:44