This was in one of today's national newspapers in the UK
TONY HETHERINGTON: As scam fund vanishes another one moves in
By Tony Hetherington
Last updated at 11:19 AM on 19th February 2012
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L.E.writes: I have just noticed a new investment scheme called the MYO Fund. It is using the same address as EV Business, which you wrote about recently, and this makes me wonder whether the same people are trying it on again.
Well spotted. I warned that EV Business, which offered interest at more than two per cent a day, was a scam.
There was no sign of it at its registered address in Newham, east London, where its mail was dumped in a cardboard box awaiting collection.
Big lie: MYO claims on its website that this is its headquarters
Big lie: MYO claims on its website that this is its headquarters
I advised anyone who invested that they should get their money out pronto, as the company would not survive. And last weekend, the EV Business website disappeared from the internet as complaints mounted from around the world from people who had not been paid.
Now here comes the MYO Fund, claiming to be based in the same building and offering sky-high interest rates to savers. The only difference between it and EV Business is that the lies from the MYO Fund are bigger.
Its website carries pictures of its impressive headquarters. They are fake. It proves its reliability by issuing a picture of its Companies House certificate. It is a forgery.
In fact, this firm cannot even decide on its own address. One part of its website says it is at 388 Prince Regent Lane in east London, the same as EV Business.Elsewhere, it claims to be at 388 Prince Regent Mews in north-west London, though it is not there either. It is as if the whole scheme is being run from abroad by someone who does not know London at all.
Like EV Business, the MYO Fund will collapse very quickly. It is asking investors to send deposits via PayPal. I alerted PayPal last Tuesday and within 24 hours the internet money giant had identified accounts used by the MYO Fund and clamped down on them.
A spokesman told me: ‘No one has lost any money through PayPal in this case.’
Excellent. Well done PayPal.
And the City regulator is also on top of things. Financial Services Authority investigators are aware of both EV Business and the MYO Fund. They issued a public warning against EV Business and followed this up last Thursday with an alert about the MYO Fund.
An FSA official told me: ‘We have concerns about both these firms and we would like to hear from anyone who has invested with them.’
Anyone who has parted with money should call the FSA on 0845 606 1234.
Read more:
http://www.thisismoney.co.uk/money/investi...l#ixzz1mqvGFtOC