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jonttt
Zolder


Joined: 20 Aug 2012
Posts: 5529
Location: Liverpool

2014 Porsche Boxster 981

PostPosted: Thu May 16, 2019 2:37 pm    Post subject: Reply with quote

It is not a Ponzi Scheme by definition but there is a well known (well if your an accountant) accountancy term used for this type of fraud, it is one of the first "schemes" you learn to look out for as an auditor Wink

https://en.wikipedia.org/wiki/Teeming_and_lading

It usually starts will all good intentions ie due to cash flow problems money is "borrowed" with the intention of paying it back but it can quickly escalate from there.

This I feel is a classic case of "Teeming and Lading" but using client funds rather than company funds Wink

I fear it will only get worse until it falls over, eventually.

It is definately fraud and if it can be linked to client funds it is even more serious as the Directors liabilities are even more onerous. One tactic I have used in the past in this kind of scenario (business not personal) is to report your concerns of fraud to the 3rd parties bank. They have a responsibility to investogate fraud (even better if you state your concerns are money laundering) and they may freeze the companies bank account. You have to be careful with this in this scenario though as it may shoot yourself in the foot ie they won't be able to pay you back. A more practical route may be to try to find out who their professional indemnity insurers are and report the matter to them, again may not work in this type of case.

I would report the matter to the police as fraud "Teeming and Lading" using client funds and tell them that you have done that. I think I've stated on here before that the police won;t be interested but your objective is to get to the front of queue so you are the next person paid back.

I would also deifnately report the wife to the local council for fraud whilst a director of this company. I would feel no guilt at all in doing that. The coucil will have a "whistle blowers" policy.

ps I would be very wary of following any "legal" advice on any internet forum, seek proper advice if you feel the need ie I have a feeling the legalalities of this are not as simple or logical as people would imagine. That is partly why he will have got away with it for so long, others will have sought legal advise and probably realised its not a strightforward scenario.

Ps
it looks like he uses CCF Accountancy Ltd,

http://www.ccfaccountancy.co.uk/

I would contact them and state you suspect Teeming and Lading of client funds are being carried out by this client of theirs. Again just be a nuisance Wink
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997 Coast
Montreal


Joined: 04 Apr 2015
Posts: 593



PostPosted: Thu May 16, 2019 2:55 pm    Post subject: Reply with quote

Cool
 
  
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mrgrey
Monza


Joined: 09 Mar 2014
Posts: 152
Location: Essex


PostPosted: Thu May 16, 2019 3:08 pm    Post subject: Reply with quote

Jonttt, not sure this is teeming and lading more like borrowing from a trusting client with the intention of not paying him back until forced to do so.

You are a nice guy Jonttt I'm sure and mix with other nice guys so you want to believe these people have Professional Indemnity insurance. Unless it came free I doubt they would buy it plus we have a problem with 'Professional' here.

An old Police officer friend of mine told me once don't waste your time/money with the law if you can turn up mob handed and ask for your money. I only ever did it once 7am Sunday morning it worked - back indoors for breakfast paid in full. That's Essex boy for you!
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spongebob squarepants
Zolder


Joined: 20 Dec 2009
Posts: 5079
Location: Manchester and Iraq


PostPosted: Thu May 16, 2019 3:38 pm    Post subject: Reply with quote

Interestingly 911v could be describing Mr Andrew Mearns perfectly

http://www.911virgin.com/porsche/sellusyourcar/ Thumb
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997 Coast
Montreal


Joined: 04 Apr 2015
Posts: 593



PostPosted: Thu May 16, 2019 3:48 pm    Post subject: Reply with quote

Judge

gmund a company to keep away from.

along with a few others that stink, that tar the good guys
 
  
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KP964
Indianapolis


Joined: 20 Feb 2012
Posts: 2262
Location: Northumberland


PostPosted: Thu May 16, 2019 5:13 pm    Post subject: Reply with quote

Weak limp wristed English men ..... He has £50k of your hard earned cash, go and get your money, go every morning & every night, get locked up but keep going back follow him in his car, use a megaphone to let his neighbours know what he is doing, let other businesses know every day, cause a riot man its £50k !!, keep going back to his business and his home, go ask his wife !! .
I would be taking a bible to the Bastrd and his stock .
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grbspeedster
Montreal


Joined: 11 Nov 2007
Posts: 572
Location: Rugby


PostPosted: Thu May 16, 2019 5:37 pm    Post subject: Reply with quote

Agree
I'd do the same,make life hell for him and his wife. Turn up at home address ,council offices and wait outside business stopping all customers telling them what has gone on
Just looked on 924 Forum ,see reports from previous years events at gmund but could not see a mention of this year.
I suspect the op may well be paid before the event, the event be cancelled due to all negative responses to them or if goes ahead Mearns may well not be in attendance
Shame not nearer otherwise would have attended to help spread the word. Certainly made this known to all I know in the Porsche circles
Hope all gets resolved for the op hate to see people ripped off
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patpending
Montreal


Joined: 11 Jun 2018
Posts: 568
Location: IoM


PostPosted: Thu May 16, 2019 6:07 pm    Post subject: Reply with quote

Years ago a guy owed me/my business 15k for goods that he bought and sold on but kept sending me bouncy cheques and all the lame excuses under the sun.

He was 150 miles from me but one morning at 6am I’d had enough of this guy and rolled up to his front door and blocked his drive so no cars could get out or in.

He started ranting until he realised who I was and I told him the Audi S8 is staying put until I get paid.

He went to the bank and withdraw the money at 10:01am

I must have been like an enraged gorilla but I’d had simply had enough of this guy and won’t say what I told him but he knew I was deadly serious with regards to what I was saying to him.

It was not just the money it was the fact that he was treating me like some muppet that made me take that drive.

On reflection it was not a clever thing to do as it could have gone pear-shaped so don’t make the mistake of thinking your going to get paid if you wait a little while but don’t wait until your incandescent with rage, as that’s when you may do something you regret.👍
 
  
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Gazc2
Kyalami


Joined: 08 Nov 2003
Posts: 1870
Location: Perthshire


PostPosted: Thu May 16, 2019 6:17 pm    Post subject: Reply with quote

KP964 wrote:
Weak limp wristed English men ..... He has £50k of your hard earned cash, go and get your money, go every morning & every night, get locked up but keep going back follow him in his car, use a megaphone to let his neighbours know what he is doing, let other businesses know every day, cause a riot man its £50k !!, keep going back to his business and his home, go ask his wife !! .
I would be taking a bible to the Bastrd and his stock .


Nice to see you out of hibernation keith Very Happy
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KP964
Indianapolis


Joined: 20 Feb 2012
Posts: 2262
Location: Northumberland


PostPosted: Thu May 16, 2019 7:34 pm    Post subject: Reply with quote

Gazc2 wrote:
KP964 wrote:
Weak limp wristed English men ..... He has £50k of your hard earned cash, go and get your money, go every morning & every night, get locked up but keep going back follow him in his car, use a megaphone to let his neighbours know what he is doing, let other businesses know every day, cause a riot man its £50k !!, keep going back to his business and his home, go ask his wife !! .
I would be taking a bible to the Bastrd and his stock .


Nice to see you out of hibernation keith Very Happy


Cheers Gaz , ive been hiding under the leafs for a while , hope alls well Thumb
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patpending
Montreal


Joined: 11 Jun 2018
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Location: IoM


PostPosted: Thu May 16, 2019 9:25 pm    Post subject: Reply with quote

http://www.911uk.com/viewtopic.php?p=1374813

Just found this little belter nooo
 
  
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FZP
Paul Ricard


Joined: 18 Jan 2015
Posts: 3348
Location: Cheshire


PostPosted: Thu May 16, 2019 9:36 pm    Post subject: Reply with quote

Fijian Ceremonial War Axe for those reading the above thread and wandering what they look like. Grin
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PostPosted: Sat May 18, 2019 10:11 am    Post subject: Reply with quote

This morning at Gmund
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PostPosted: Sat May 18, 2019 10:12 am    Post subject: Reply with quote

This is happening this morning
 
  
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pzero
General
General


Joined: 18 Jul 2010
Posts: 5276
Location: London


PostPosted: Sat May 18, 2019 10:44 am    Post subject: Reply with quote

thumbsup
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Boba fett
Indianapolis


Joined: 14 May 2015
Posts: 2343



PostPosted: Sat May 18, 2019 10:49 am    Post subject: Reply with quote

I would love to be there.

Hope its carnage for that crooked dealer Thumb
 
  
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PostPosted: Sat May 18, 2019 10:53 am    Post subject: Reply with quote

On site Thumb

With the permission of the industrial estate owner
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The return of Marty Wild
Barcelona


Joined: 04 Nov 2016
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PostPosted: Sat May 18, 2019 11:45 am    Post subject: Reply with quote

Absolute quality, wish there was a live feed. Keep us updated!
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baldguy
Montreal


Joined: 09 Nov 2010
Posts: 615
Location: Berkshire & London


PostPosted: Sat May 18, 2019 11:56 am    Post subject: Reply with quote

Hope the little weasel squirms and the local papers arrive which will affect his wife's career potentially too... hats off to you... utter shark of a scum bag Gmund Cars...
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Tombri
Spa-Francorchamps


Joined: 29 Oct 2013
Posts: 282
Location: Scotland


PostPosted: Sat May 18, 2019 12:05 pm    Post subject: Reply with quote

Has someone actually contacted the papers? They always need new copy.
Still not too late.
Keep us all informed.
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