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Property Tribes partner solicitor, Anthony Gold Solicitors, have announced victory for people who were involved in the Property Assets case.This has taken around four years to reach a legal conclusion.Investors typically paid £25K to Property Assets to go into a JV to purchase distressed properties and were offered unusually high returns. An early thread started by myself and Lisa Orme suggested that the model was not sustainable and that the returns were suspiciously high. The transactions were managed by Property Assets solicitor Dixon Law.Sadly, as we predicted, those returns were not forthcoming, properties were not refurbished, and the company went into liquidation leaving investors high and dry. The legal outcome is the end of a long battle involving a class action of 100 people who were introduced to Anthony Gold via this site.The above linked thread is well worth reading to understand how the fraud was perpetrated, how it played out over time and the information that was disseminated via this site. It is a salutary learning resource for anyone tempted by JVs and those offering unusually high rates of return.This is great news for the significant number of people, many of whom were PT members or others who found the thread, who were involved in this case.As ever, due diligence and being aware of warning signs are key to avoiding being involved in a property-related scam, so here is a timely reminder of the content shared in our themed week on this topic:Property Fraud Awareness Week 2017 - powered by Anthony Gold SolicitorsMonday An overview of property fraud & warning signsTuesday Mentor, JV, property deals, and loans scamsWednesday Rent to Rent scamsThursday Identity fraud - rental property perspectiveFriday Lettings fraud Congratulations to Clifford Tibber and the team at Anthony Gold!SEE ALSO - "Scam Awareness Month" starts today - How to protect yourself from property fraudUP NEXT - Golden rules for lending Developers MoneyDON'T MISS - Buying property with none of your own moneyNOW WATCH:
Vanessa Warwick Landlord and Co-Founder of PropertyTribes.com **If you have got value from Property Tribes, find out how you can support it in remaining a free to use community resource**
Good news that Anthony Gold managed to recover some monies for PA victims.
I tried to join the group but AG were not accepting any more victims at the time. Can there be a second round of claims now that AG have been successful with a group of 100 'investors'? I think there were something like 250 in total?