crown currency in administration

[kitch50]

<blockquote id="quote" class="ffs">quote:

I am talking about the visitors who get all their spending money in UK either in cash or TCs, when they can easily use a debit card for cash from an ATM and credit card for most purchases.

[/quote]

I think that using a debit or credit card on holiday it would (for me) be far to easy overspend and not to keep a check on what I am spending. Unfortunately I don't have a large amount of money to spend so I buy my US$ over the counter in this country and take the cash with me and apportion the money over the holiday. I do take my cc with me for emergencies and to use for the car hire but that is all.

[Robert5988]

Seems like InterchangeFX have now gone bust.

[Jill]

Thought that was the case the other day when reading 'chatter' on another forum.

[Robert5988]

I thought people might like an update on the Crown Currency saga:

http://www.cps.gov.uk/news/latest_ne..._exchange_ltd/

Seven charged following investigation into 2010 collapse of Crown Currency Exchange Ltd

15/08/2013
Five men and two women have today (August 15) been charged following an investigation into the collapse of currency exchange company, Crown Currency Exchange, and two associated companies.

Sue Patten, Head of Fraud at the Crown Prosecution Service, said: "Following a thorough investigation by Devon & Cornwall Police, we have today authorised seven people to be charged in connection with two companies operating in the field of foreign currency exchange - Crown Currency Exchange Ltd and Crown Holdings Ltd and a third associated 'cash for gold' company - Mayfair and Grant Ltd.

"It is alleged that Peter Benstead and Edward James, joint Directors of Crown Currency Exchange Ltd and Crown Holdings, between 1 December 2006 and 31 October 2010, knowingly carried on business for a fraudulent purpose and falsified accounts. The secretary to the companies, Stephen Matthews, and senior manager at the companies, Roderick Schmidt, are charged with the same offences.

"Peter Benstead is also charged with theft. It is alleged that he removed over £1m from the companies of which he was a co-Director during the relevant period. Additionally, he faces two counts of perverting the course of justice, one of which is with his daughters Katey Benstead and Victoria OBrien, in relation to the alleged burning of documents connected to the companies.

"Further, Peter Benstead is also charged with one count of converting criminal property in relation to the purchase of a property. Peter Benstead's son Julian Benstead is charged with one count of fraudulent trading and one count of theft of gold, both in relation to 'cash for gold' company Mayfair and Grant Ltd, of which Peter Benstead was a joint Director. Peter Benstead, along with his daughter Katey, is also charged with one count of obtaining a money transfer by deception concerning a fraudulent mortgage application.
"Peter Benstead, Edward James, Stephen Matthews and Roderick Schmidt will also face two counts each of failing to keep adequate accounting records with regards to Crown Currency Exchange Ltd and Crown Holdings Ltd.

"This decision to prosecute was taken in accordance with the Code for Crown Prosecutors. We have determined that there is a realistic prospect of conviction and a prosecution is in the public interest."All seven defendants will appear before Westminster Magistrates' Court on 17 September 2013. Criminal proceedings are now underway and the defendants have a right to a fair trial. It is extremely important that nothing should be reported which could prejudice this trial."

Ends

[Jill]

This is the report from the Devon and Cornwall Police Force Dear Sir or Madam, Following the submission of a full evidential file to the Crown Prosecution Service seven people associated with Crown Currency Exchange Ltd, Crown Holdings Ltd and Mayfair & Grant Ltd have been charged with criminal offences. Peter Benstead aged 70 from Penzance charged with offences of fraudulent trading, money laundering, perverting the course of justice, theft, deception, false accounting and companies act offences. Edward James aged 73 years from Glastonbury charged with fraudulent trading, false accounting and companies act offences. Julian Benstead aged 44 years from Penzance charged with fraudulent trading and theft. Katey Calvimonte aged 35 years from Penzance charged with deception, and perverting the course of justice. Roderick Schmidt aged 44 years from Penzance charged with fraudulent trading, perverting the course of justice, theft, false accounting and companies act offences. Victoria O’Brien aged 37 years from Welwyn, Hertfordshire charged with perverting the course of justice. Stephen Matthews aged 50 years from Penzance charged with fraudulent trading, theft, false accounting and companies act offences. All seven have been released on bail to appear before Westminster Magistrates in London on 17th September 2013. It is anticipated that the defendants will be committed to the Crown Court and a trial date will be set in due course. There is no requirement for any witness to attend the court. Should any witness be required to give evidence that will be at the Crown Court and they will be advised individually beforehand. The police investigation by the Force’s Economic Crime Unit into the failure of these companies has, as you will be aware, been ongoing for 2 years and 9 months. This has been due to the complexity and nature of offences and I thank you for your patience. The matter remains sub judice so I am unable to provide further information. Devon and Cornwall police remains committed to representing the interests of all persons who have suffered a loss as a result of the failure of these companies. Paul Bean Detective Chief Inspector Devon and Cornwall Police Useful Documents Information for victims of crime Useful Links Frequently Asked Questions Advice for victims

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