currency offer

[kerrigan]

Lots of people caught up in this, including myself! Just terrible news!
Hazel.

[SDJ]

Robert, your quotes from the Investors Chronicle were made in September 2009 not 4 weeks ago. They were posted earlier this year on another forum and obviously many people who read them, took no notice and continued to trade with CC. It is sad so many people have been stung.

Sandra

[Robert5988]

Well there have been countless warnings on this particular forum(OV). I posted this over 4 years ago in September 2006.

<blockquote id="quote" class="ffs">quote:I rang Crown Currency Exchange this morning.

Apparently you just hand over your money, say, £1,000 and in April you are sent US$2,000.

I enquired about security of my money between now and April and – er – there isn’t any.
I enquired about what form of financial regulation applies to the firm(FSA etc) and – er – there isn’t any.

So basically you are giving your money to a completely unregulated firm with no safeguard whatsoever should they go bust.

Er - I don't think I will bother. "Fantastic" or not.

EDIT
They operate from John Harvey House in Hayle Cornwall and there are other 'sister' currency exchange firms operating at the same address as well as Bulgarian Plots - buy land and property in Bulgaria. Hayle is a beautiful spot and must be becoming the financial Mecca of the West Country.

I don't like the 'sister' companies operating side by side. It is a classic ploy to start up a new company to limit your exposure; if Crown go bust, the sister companies don't. It looks suspiciously like they are gambling on future exchange rates - with their clients money! [/quote]

Time and time over the past few years people have posted about the wonderful rate they are getting from Crown, and the same warnings have been given.

[SDJ]

I agree Robert, there have been many warnings on various forums including yours on this one. It did make me wonder, and I decided not to use them.

Nevertheless, it is indeed very sad for those who did lose out and I hope their loss won't be too drastic.[msncry]

Sandra

[Katys Grandad]

I would devastated if it was my money and have a lot of sympathy for those who appear to have lost everything they paid.

The warnings were there for sure but, as is so often the case, people choose to ignore them in return for what was an unsustainable rate. I'm definitely not saying that this was all a fraud but by coincidence I've just finished reading a book about Bernie Madoff's massive Ponzi scheme. The message is the same - give people a bit more than they can get elsewhere and they'll flock in even when they don't see how it can possibly be sustained and perhaps suspecting there's something not quite right. In the end, their suspicions are realised and they wonder how they ever got involved in it.

I wish the very best of luck to those affected.

[Robert5988]

Anyone who has lost money might be interested in going to the Money Saving Expert Website as they have formed an action group and the owner(Martin Lewis) has hired a lawyer to investigate aspects purely from the victims perspective.

There are three threads running. We are not allowed to post links on this forum,(unless the moderators agree??) however if you PM me, I will send it to you.

Latest prediction from their investigations with administrator is that victims might get back 15p in the £.

[blott]

We have more than one thread in the Guest area running about this so I have locked this one but please continue on http://www.orlando-guide.info/forums/topic_55541.asp