Tony Hetherington: Uncovering the Truth Behind Financial Scams
Tony Hetherington is a renowned investigator for Financial Mail on Sunday, dedicated to fighting for readers’ rights and exposing the deceptions that lurk behind closed doors. With a remarkable track record of reclaiming funds for those who have fallen victim to fraudulent schemes, Tony Hetherington is here to help.
Contact Tony Hetherington:
If you’ve been left out-of-pocket or suspect financial wrongdoing, you can contact Tony Hetherington for assistance. Reach out to him at Financial Mail, 9 Derry Street, London W8 5HY or email [email protected]. Please note that due to the high volume of enquiries, personal replies may not be possible. Alternatively, include copies of relevant documents with your inquiry, although we regret that originals cannot be returned.
Reader’s Case: C.B. and the Cannadex Bond Gone Wrong
C.B. shares a troubling tale of a £5,000 investment made in Cannadex loan bonds, offering an enticing fixed interest rate of 11.75% and repayment due in February 2022. However, repayment never came, and all attempts to contact the company were met with silence. Seeking answers, C.B. finally managed to reach Cannadex and forwarded his request to their finance team, but the repayment was still not forthcoming.
Cannadex is a medicinal cannabis company that previously raised funds by issuing bonds. Yet, it seems that the bond C.B. acquired is not the bond Cannadex had intended. To complicate matters further, C.B. reveals that he was led into this investment by a financial adviser from a questionable firm called Charles Hunt & Co, purportedly operating out of Berkeley Square in London. However, investigations have shown that no such registered company exists, nor is any firm by that name authorized by the Financial Conduct Authority.
While C.B.’s status as a “sophisticated investor” reduces the legal protection available to him, it becomes clear that he does not meet the criteria for this label. At 88 years old, C.B. lacked the knowledge and understanding of the risks involved in buying loan bonds, mistakenly assuming that they were similar to a fixed-rate bank account. In reality, such bonds are similar to IOUs, carrying the inherent risk of non-repayment.
Tony Hetherington delved into the matter, reaching out to Amit Kochhar, the boss of Cannadex. Unfortunately, there was no response from Kochhar himself, but one of his colleagues, Stephen Scanlon, shed some light on the issue. Scanlon indicated that the investors who put their money into Cannadex subscribed for convertible loan notes, with the intention of converting them into shares. According to Scanlon, investors were not entitled to a refund; instead, they would receive shares.
However, the problem lies in the wording on C.B.’s bond certificate, which specifically promises a repayment of £5,000 with an annual interest rate of 11.75%. There is no mention of conversion into shares. After further investigation, Cannadex decided to make an exception and repay C.B., who has now received his £5,000.
The perplexing discrepancy between what Cannadex intended and the actual bond certificate issued remains unexplained. Additionally, Cannadex declined to disclose the sales force responsible for the 2020 fundraising campaign, further deepening the mystery.
Exposed: Address Hijacking and Suspicious Mail
Ms C.M. shares a distressing experience since buying her property in 2020. Letters from loan companies addressed to unknown individuals have arrived at her doorstep, causing suspicions to rise. Adding to the intrigue, a company called Cool Poster Limited was established using Ms C.M.’s address. She promptly reported this to Companies House, seeking advice on how to protect her address from unauthorized usage.
Tony Hetherington responds by explaining that there is no centralized watchlist for addresses. While Cifas, the credit industry’s anti-fraud organization, does maintain a list for individuals, it does not extend to addresses. The registration for Cool Poster Limited, initiated by someone who claims to reside in Kyiv, has now been rectified by changing the registered office address to direct mail to the Cardiff office of Companies House. Vigilance remains crucial.
Warning: Beware of Art Investment Scams
In a recent warning, Tony Hetherington exposed the art investment company Marks Art Ltd. Despite the company’s claims of a prestigious London gallery, Tony discovered that no gallery existed at the advertised location. The company’s owner, Mark Smith, admitted to only using the address for receiving mail, stating that the actual gallery’s whereabouts are kept secret for security reasons.
After Trustpilot removed 14 fake reviews and instructed Marks Art not to misrepresent its trust rating, further suspicious reviews for a separate website linked to Marks Art were discovered. Trustpilot’s Fraud and Investigations team swiftly removed these dubious reviews and issued a Cease and Desist order to Marks Art. They have also added a warning to the art dealer’s Trustpilot page, alerting consumers to the firm’s misconduct.
Your Ally in the Fight Against Financial Misconduct
Tony Hetherington stands as a beacon of hope for those who have been left out-of-pocket or have fallen victim to financial scams. With his investigative prowess and dedication to bringing justice, Tony is here to assist you. If you have encountered any form of financial wrongdoing, don’t hesitate to reach out to him at Financial Mail, 9 Derry Street, London W8 5HY or email [email protected]. While personal replies may not be possible due to the high volume of inquiries, please include copies of relevant documents with your communication.
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