Profitable Group - is it credible?

[probono]

Land Banking Scams v Drinks Scams

Both scams require you to buy something you don't really know the true value of today on the promise of an "expert" from the company. The company expert will tell you that what your are purchasing will be worth a lot in the future. They may also use related but meaningless statistics to prove it** Typically you wait 3 to 5 years and find out what you purchased is completely worthless and that all your money has gone along with the expert.

For a good example of someone who mixed drinks schemes and land banking and tried to become a UK MP see this article here
http://www.dailymail.co.uk/money/ar...ION-UKIP-candidate-quits-land-scam-probe.html

** the logic normally runs diamonds are expensive. Diamonds are rocks. Rocks could one day become diamonds. Buy these rocks for a lot of money.you are made to visualise gold and diamonds while they sell you rusty steel and rocks.

 

[scammersdie]

Take action against Profitable Group

From hundreds of testimonies, witnesses and action, it's clear that the Profitable Group is not serious about paying out money to its investors. Even investors in UK, Indonesia and Malaysia are now writing to us to say they want to join in the legal action againt Profitable Group here in Singapore.

For those out there who wants to take action, please write in with your details to the following email address: petition_on_landbanking@yahoo.com

We will be holding another follow-up meeting soon.

 

[probono]

Status on Nafferton

All four Profitable Group UK sites Spring Grove Colchester, Cherry Tree Grove Colchester, Concorde Village Hounslow and Nafferton now have UK authority public declarations that they have no chance of planning permission. Nafferton was the last to declare but the as the council say - All you had to do is ask ....
So 100% no chance of development for UK plots sold by Profitable Group. This is a company that claims to have UK planning experts on its board and offers returns of 250% in 3 years.
------------------------

This is the response from the UK council responsible for Nafferton which can be read here.
http://www.whatdotheyknow.com/request/profitable_group_nafferton_land#incoming-98697

The site on Lowthorpe Lane, Nafferton is outside the defined development limit for Nafferton as set out in the adopted East Yorkshire Local Plan. As such the site lies in the open countryside and residential development would be contrary to national and local planning policies

The Council is currently preparing a Local Development Framework (LDF) Core Strategy and this can be viewed on the Council's website. This proposes that Nafferton will NOT be identified as a village for future development - principally because of its proximity to Driffield which has more services and facilities. If this approach is confirmed then there will be NO allocation of housing land in the village. The Council's LDF includes an Allocations Development Plan Document (again available on the website) which is out for consultation with potential housing sites identified - however as Nafferton is not a village identified for development the Allocation DPD does not consider ANY potential residential sites in the village.

The future status of Nafferton as suggested in the LDF has
changed since 2005, and indeed since the Council's own Smaller Settlements
Development Plan Document of Oct 2006 when Nafferton was still identified
as a "market village" where limited development would be permitted

 

[Liquigas]

So. No matter what has been said n done here in Singapore......all Investors are screwed.

It is so sad, that Singapore do not protect it's citizens against cleverly planned contracts that puts us in a disadvantaged position.

Guess I can kiss my $$$ goodbye.

AAA 100% - Was told in 2008 that it'll be matter of months when all investors will be paid...BS!

Was told that Credit crisis has hit Philippine also....need to wait Aug or Sept 2009........BS!

2010.............more BS!

Sigh.

 

[sunzoner]

Any updates for this thread? Wanted to bump this too...

 

[kelvintyy]

As for Simon, he did confirm that Nigel B left the company as well as also promised (again...) payment will be made in anbother 6-9 months time when funds come in from the Philippines deal. Also, PP will make a press release on this deal in the next 2 weeks time.

I am still waiting for that press release in which Simon D from Profitable Group promised you on 21 Jun 2010. Guessed you have been "smoked" by him again. There are many good actors and actresses there in PG, they should try acting as an alternative career if the company don't want them. Bright future.

 

[cacwai]

HERE'S A PRESS RELEASE...

I am still waiting for that press release in which Simon D from Profitable Group promised you on 21 Jun 2010. Guessed you have been "smoked" by him again. There are many good actors and actresses there in PG, they should try acting as an alternative career if the company don't want them. Bright future.

Here's some press release for ALL, and its no smoke. This came from Spring Singapore, the person I follow up regularly with on a complaint I lodged late last year...

"SPRING has conducted a review Profitable Plot's SQC status and have sought clarification regarding the feedback and complaints from their
customers/investors. Profitable Plot has subsequently decided to withdraw
from the SQC Certification Scheme. As such, the company is no longer an
SQC certified organisation. Please do contact me if you need any further clarification."

One small victory for PG victims, one giant press release for PG!

Profitable Group, you stink! Your Leadership/Management - John Nordmann, Tim Goldring, Tim Fogarty - you all stink! Hope you enjoyed the run of bad publicity and humiliation - you deserve them! All those who still tell your lies and continue to deceive clients on your behalf deserve to burn in hell! May you trip and fall down the stairs or get run over by cars.

None of your past excuses/explanation justifies the way you treat your clients/investors - ignoring them, playing hide & seek, making them chase & hassle you for what is rightfully theirs, treating them like dirt! NOTHING YOU CAN EVER DO WILL MAKE IT RIGHT WITH THEM - even if you return their money now. You just maybe manage to save your soul! Profitable Group/Profitable Plots/or whatever variant name you want to call yourself, YOU STINK!

 

[kelvintyy]

New Method PG Is Using Now

I am recently contacted by one of Profitable Group Client Services Officer. Step 1, they will tell you their grandmother stories that they are not able to pay to you your capital. Step 2, they will tell you they are in the same situation as you. Step 3, they will tell you to fast track to a concorde village plot at GBP 5625 and the balance will refund you within 30 days. The number of plots to fast track will be subjected to approval by their directors. Step 4, they will tell you that many investors are doing that now and you should do that too. Step 5, they will say you not only get back some of your capital, you also earn a new plot in UK which will get planning permission in the next few years. Step 6, they will ask you for an appointment to sign the fast track contract.

When I asked him to type in writing a paper with their company letterhead, indicating what he has said to me on the phone in black and white. He said he can't do that. He said even his directors do not do that as well. But you're sure get back your refund within 30 days. What it means to you, if anything goes wrong with the payment, they can still get away with it. They can still continue to delay for as long as they like.

I believe at this moment, some existing investors have already signed the fast track agreement with Profitable Group cos they are promised the refund of some immediate money to them. If any of you have pending appointments with them, bring along a voice recorder. Record every single word they tell you and every single promises, they tell you. If you have any phone recording device, use it as well. After 30 days, if you do not get what you are promised, send this tape to the media and report to the authority.

These CSOs are working very very hard now to call and convince you. Because every fast track you made to retrieve your hard earned money, Profitable Group will pay them good commission as well as secure their jobs.

 

[cacwai]

PG Grandmother Stories continues .....

I am recently contacted by one of Profitable Group Client Services Officer. Step 1, they will tell you their grandmother stories ....

Other layers of lies that PG throws out at investors are as follows:
Step 1: Tell investors that money will be coming at some point in time in the future and ask them to extend to earn compounded interest, OR ask them to convert to some other product which has a very high chance of exceptional returns in some point in future (and maybe in the process, get some top-up money for them - to pay rent...).
Step 2 (if Step 1 fails): If investor insist on surrendering, provide the requisite forms by just going through the motion. Try to make it as unofficial as possible so they will not be able to use it in court at some future point in time.
Step 3: Ignore their calls or email requesting status of repayment.
Step 4: Should investor threaten to sue or bring the matter to the authorities, tell them that CAD has been up to discuss with PG directors and have not found anything wrong with their operations - therefore, no outcome from CAD so far, and PG is not afraid of CAD action. If investor tries to sue, they will not be succesful as (here, several reasons can be used...) - (i) your contract is with overseas entity and Singapore is only a marketing office so cannot sue them; (ii) your contract indicates arbitration so you cannot sue them in court; (iii) sue them and you still get nothing as they have no money... etc., etc.,

Anyone wants to add other stuff they've heard....

 

[Commander Keen]

Concorde Village currently has a value of less than 300 Pounds per plot.
If you want to take this offer you should get at least 4 plots of Concorde Village for every thousand pounds you are owed for Boron.

You know the risks of dealing with these people. If you agree to what they offer you can't complain later.

 

[probono]

Profitable Group Nafferton Investors Out there ?

This is the response from the UK council responsible for Profitable Plots Nafferton which can be read here.
http://www.whatdotheyknow.com/request/profitable_group_nafferton_land#incoming-98697

Claudia Tanner is a reporter from the local UK paper covering the Nafferton area. She is trying to contact Profitable Plots Nafferton investors to get their story. She can be contacted here.

c.tanner@mailnewsmedia.co.uk

I passed her the http://profitable-group-victims.blogspot.com/ site but there are no Profitable Group Nafferton investors there.

Since the press and investor noise on Profitable Group in May it does seem to have gone quiet. Did any investor get paid ? Or have their lawyers silenced people? Or are legal actions underway ?

 

[fools!]

Sueing PG

It is all too obvious- PG is insolvent and should Bonifacio indeed exists it may be sold so the directors can run... What are you all doing about it? Has anyone successfully sued? Any lawyer recommendation? Should we group ourselves?

 

[sunzoner]

Concorde Village currently has a value of less than 300 Pounds per plot.
If you want to take this offer you should get at least 4 plots of Concorde Village for every thousand pounds you are owed for Boron.

You know the risks of dealing with these people. If you agree to what they offer you can't complain later.

I find it strange that since they are unable to deliver on one "investment", people feel they can be trusted on another... esp since both are land banking and the second are used as an excuse to get people to "reinvest"...

I would think you still can complain later... but cheat me once shame on you, cheat me twice shame on me...

 

[anatolian]

Just saw this one posted in PG website today: profitablegroup.com/news.aspx?id=459

It's taken from planningresource.co.uk/inDepth/ByDiscipline/Housing/1017563/Housing-Balance

I have no investment on PG land plots so not sure about government policy on development in green belt area.

 

[sunzoner]

Just saw this one posted in PG website today: profitablegroup.com/news.aspx?id=459

It's taken from planningresource.co.uk/inDepth/ByDiscipline/Housing/1017563/Housing-Balance

I have no investment on PG land plots so not sure about government policy on development in green belt area.

http://www.planningresource.co.uk/aboutus/

http://www.networksolutions.com/whois-search/planningresource.co.uk

Are they reliable? Any collaboration by respected UK daily?

 

[vocallocal]

sorry for the disappearance!

hi all,
sincere apologies for my long silence! the past few months were simply crazy for me... i was pre-occupied with various other things: marking my big 3-0, heaps of office work, going for professional training, studying for post-grad exams etc, and was just generally fatigued from this whole festering mess.. but now i'm back and i've some good news to share:

profitable plots has actually refunded me my money! the cheque they issued miraculously cleared, and i'm just relieved that this chapter has FINALLY closed for me...

however, i'm saddened to hear that their admission during my hearing (in chambers) that they do in fact owe me money for 1 year, didn't mark a change in PP's stand towards the rest of their investors

if there's any other ways i can help, just drop me a msg? what i've told my lawyer is that he has my permission to use anything from my case (affidavits, emails etc) that cld be useful to anyone else in their case

all i ask from u guys:
1. those who know my real name, please respect my request for privacy
2. please refrain from asking me for legal advice, i'm really not able to do that
3. those who happen to have gotten my mobile number, pleeeeease don't call me (especially during office hours), just txt me if it's urgent ok?

apologies for not replying all the PMs either, i haven't logged on in a while

 

[probono]

Dont believe a word

It's taken from planningresource.co.uk/inDepth/ByDiscipline/Housing/1017563/Housing-Balance I have no investment on PG land plots so not sure about government policy on development in green belt area.

This is what Land Banking companies do. They find one quote that favours their position and publish the hell out of it while ignoring the overwhelming case against their position. You will also see this quote on the Profitable Web site. "not one client has ever lost money".

I think everyone here might have a different opinion.
http://profitable-group-victims.blogspot.com/

If you switch your investments now with Profitable you are a fool. Profitable Group plots are close to worthless. If you are already a customer and you switch you can hardly say you didnt know.

VocalLocal has proved that the only thing Profitable Group will respond to is legal action. Get down to your Lawyers Office today.

 

[anatolian]

This is what Land Banking companies do. They find one quote that favours their position and publish the hell out of it while ignoring the overwhelming case against their position. You will also see this quote on the Profitable Web site. "not one client has ever lost money".

I think everyone here might have a different opinion.

If you switch your investments now with Profitable you are a fool. Profitable Group plots are close to worthless. If you are already a customer and you switch you can hardly say you didnt know.

VocalLocal has proved that the only thing Profitable Group will respond to is legal action. Get down to your Lawyers Office today.

Yes, I have investment but in different product. What I was trying to say was that land banking investment is a long term investment that depends on several factors, one of those factors is government regulation; therefore, I put that news in this forum, I believe investors in land plots can do further research on that. We all here trying to see things rationally and analyze things instead of getting all worked up and whining. If at the end taking to court is what it takes then I will definitely do that on due time; i.e. when the maturity date is reached. how about yourself, have you taken any legal action yet? If you have any update or information please do share.

 

[sunzoner]

Yes, I have investment but in different product. What I was trying to say was that land banking investment is a long term investment that depends on several factors, one of those factors is government regulation; therefore, I put that news in this forum, I believe investors in land plots can do further research on that. We all here trying to see things rationally and analyze things instead of getting all worked up and whining. If at the end taking to court is what it takes then I will definitely do that on due time; i.e. when the maturity date is reached. how about yourself, have you taken any legal action yet? If you have any update or information please do share.

How long is long term? 3 years? I was promised that. Lucky I never "invested".

If those money that should be paid out cannot be paid out, I wonder if it is still called "investment".

 

[Commander Keen]

Either sue or give up. Dont waste your time being hopeful

Yes, I have investment but in different product. I will definitely do that on due time; i.e. when the maturity date is reached.

Dude please ! Dont you get it ? The products matured the day they were sold to you. The big payout has happened . It went to Profitable Group.
You passed them money, they gave you worthless paper.

Read this HWZ thread and search the internet. There are no Boron deals. The land banking plots are worthless. There is no big payout on the Philippines.

You were the big payout and you already paid out !

A lot of the Profitable Group money has been spent. Where ? On those stupid TV adverts, on lawyers fees to shut up people who told the truth, on Steve McMahon, on sales commissions and marketting, on expensive wine , food, apartments and cars. It was a brilliant business model and they got rich from it but its finished now. Its over.

They cant pay everyone back even if they wanted to so the only thing they can do is put you off until you give up. Have you not noticed how all the fuss has died down ? They are paying the trouble makers like Vocallocal off and convincing the suckers to wait for a payday that will never come.

Your only strategy is to make enough noise that they might pay you.