How detailed would you like? Full story would take many posts. Very briefly...
First dealt with them in 2004 following recommendation from a long time friend who invests all the time. Naively invested in the company Technology Assets (TNGA) who were running a Ukrainian Brick Mill. Sent money to K R Margetson in Canada. Was introduced to Jody Consulting who 'worked closely' with Phoenix. Was offered many other shares such as EMI, KATY, YASHENG, HUMLOG and ANGLO SWISS.
2005 -Was contacted by Cross Border Arbitrage about selling out of TNGA. Never happened.
2006 - Phoenix admited Saxena link but insisted that they had been done as much as the shareholder. Heard from TNGA CEO Jim Brown based in the Ukraine. Researched him and spoke to him (a number of times) and seemed above board. Promised that my investment would be honoured. Instructed by Jim Briown, I wrote to Candian mounted police and sent all details about the 'fraud'. No response.
2007 - Phoenix 'swap' me (for free) into PHX Holdings as long as I make a small investment in Texas Holdings (TXHG). Researched this and seemed OK. Wrong! Jim Brown again assures me that TNGA investment will be honoured.
2008 - PHX swap is not 'free'. My contact at Phoenix 'moves' to company Specialized Risk Solutions is still in the same building. Offered other investments through Phoenix associates Global Micro Cap supposedly in UK. My research draws a blank.
PHX are linked with Laipac Africa and huge amounts of data start coming though.
2009 - Promised dividends never arrive. Asked for money to help 'activate' PHX holdings - ignored. Asking becomes demanding. Ignored. Jim Brown is still going but has started building recycling plants.
2010 - Offer of $0.32 per share arrives today.
If any one is interested in the detail then let me know,
Karl99
Are you in the UK? If you are I have a suggestion for you.
That is a shocking example of how these crooks bleed people dry. I've heard of people losing all their money on these scams and then mortgaging their house to try to 'make it back' on the next big chance they're offered. If you lose money to a boiler room scam then realise it's gone forever, never try to make back your losses with another 'investment'. Remember these are criminals not brokers, their only aim in life is to steal your money.
I appreciate your honesty. Either way if they are criminals they have to be stopped. The money has to be somewhere and there are bank transfers which should be traced quite easily if the correct investigations take place. The police wont help me with this type of complaint or report there is always a way to get back the money or taking the company to court for 'Negligence' acting like they do not know what is happening is a lie and they should be taking the appropriate steps to prevent these companies from selling on behalf of them. Afterall if they want this business to work all of this bad press will prevent any future investment and the company will go under. I am looking for the right place to turn to get the answers I need and take the appropriate steps. I am currently savinf to take a trip to boston and seeing them in person maybe even taking a lawyer with me when this happensn even if this is 10 years from now I will catch them out. My feeling is they are not even in boston but unless I go there I will never know.
Karl, bankers are often legal thieves but you haven't been dealing with them. Sadly you have been conned by a load of boiler room thieves and your money has long since disappeared. The shares you 'bought' are worthless, and they've always been worthless.
Please learn your lesson and don't get involved in things you either don't understand or are unwilling to investigate properly.
Hi Anley,
I appreciate your comments but feel they are a little patronising. I dont feel i should sit back and accept it thats the reason they get away with it. I believe your comment is a bit harsh and not very constructive. I have learned a lesson but I am not the one that has a lesson to learn they are. And I am willing to investigate properly it is going through the right paths which is why I am looking for advice and hope not to just hear its over as long as im breathing it is not over. Its not just me and there are millions of pounds be conned out of people if enough people make themselves heard something will have to be done.
Karl
It is General Lord Guthrie who is involved with them. Prior to this press article I know for a fact that he was warned twice, in writing, that the company he was advising was defrauding UK investors.
I think this is where you should start, not wasting your money on flights or lawyers. Have you MP take this up.
http://www.dailymail.co.uk/money/article-1309016/FSA-launches-BioDefense-shares-probe.html
I do not no my MP and am concerned he will want nothing to do with this situation. Are you from the UK do you know of an MP that might help rather than just my local MP. As this is bigger than just me im hoping there maybe someone outthere already clued up on this situation.
Thanks
Hi Anley,
I appreciate your comments but feel they are a little patronising. I dont feel i should sit back and accept it thats the reason they get away with it. I believe your comment is a bit harsh and not very constructive. I have learned a lesson but I am not the one that has a lesson to learn they are. And I am willing to investigate properly it is going through the right paths which is why I am looking for advice and hope not to just hear its over as long as im breathing it is not over. Its not just me and there are millions of pounds be conned out of people if enough people make themselves heard something will have to be done.
My husband has some pink sheet American shares that he hopes to be able to sell, He was wondering if anyone could recommend a legit stock broker in the US, to see if it is possible to sell them. The shares are Regulation S 144 shares, so they will have to have restictions removed before they are sold.Hoping for a favourable reply.
Aggie
I'm afraid yours is a familiar story, many people have been ripped off by boiler rooms selling Biodefense shares, it has made the press several times as well. To date Biodefense has not even been listed on a stock exchange.
Bigbrains who was posting here supporting the company actually works for them. He is a convicted criminal and crack addict, you'll not be too surprised to hear he was convicted of securities fraud. Biodefense would have you believe they have nothing to do with these boiler rooms but you can be sure they are very closely linked.