There is a Profitable Group victim support blog set up that seems to be trying to do something. Do a search for Profitable Group victims in google. Unfortunately it seems highly likely that all the profitable plots are close to worthless and all the money is gone so be careful if you are asked to pay recovery fees. You may be throwing more money away.
Profitable Group are closing all of their offices in Asia and being investigated by the CAD in Singapore. They are on the MAS investor alert list. ESPN and Channel News Asia CNA should be running stories on this not protecting their friends at Profitable Group. The advertising money Profitable Group paid to ESPN and Channel New Asia was scammed from investors. You should do the right thing and pay it back.
@FailedInvestor I agree. I am their Hong Kong victim. What can we do? Does anyone know regarding the outcome of recent legal cases brought against them in singapore or elsewhere?
Profitable Group is now under investigation by the commercial affairs department (CAD) in Singapore. If you are a concerned investor you should contact CAD directly.
From The UK Daily Telegraph Sunday 14 March 2010 - A Chelgate spokesman said: Circulation of a TV advertisement showing land at Feltham as offering an estimated return of 250 per cent in three years, was aired for a short period in 2006 such advertising has long since been withdrawn. Investments have been sold on a minimum 7 to 10-year horizon.
This advert ran on Channel News Asia in Oct-Dec 2008 and promised 250% in 3 years.
The Monetary Authority of Singapore (MAS) has added The Profitable Group to its Investor Alert List. Search for [Profitable Group MAS] in Google.
From MAS - From time to time, MAS receives information on persons who are possibly conducting activities regulated by MAS without authorisation. Consumers should exercise care when dealing with these persons. Overseas consumers who receive solicitations by persons who claim to have an operation in Singapore should also exercise care .
Land Banking Companies- Why the majority of them are (legal) scams
The sad truth is the plots of land sold by Land Banking firms have about a 1% chance of receiving planning permission over the next 20+ years. Although of course the land banking firm will give the impression that planning permission will soon be granted.
Investing in English Green Belt Land Banking plots and then a bit more in Patented Boron Engine Additives - sounds like a huge winner to me. But then of course i'm a moron.
The Hounslow Chronicle has the following headlines and quotes related to this site.
Scam fears over homes feltham: profit promise to investors despite planning risk.
A PROPOSED 1,000-home development in Feltham is facing claims it is part of an international property scam. The council has been inundated with queries from investors who fear they might not see any return on their money.
The land is in the Green Belt and Hounslow Council has said it will not allow it to be developed.
This site is also marketed as Lower Feltham Lakes, Concorde Village. Locals like to call it Green Belt Land in Hounslow since that is what it is. If you are an investor or considering investing in this site it would be good to know what you think you are buying and when.
Check out a site called property scam in the UK, the wikipedia entry on land banking or the UK land registry site all of which are highly negative about plot based land banking.
Or just do a search for land banking plots in Google.
This company liquidated in the UK end 2007 and is now selling plots of land in Asia.
Your 3 years are up Profitable Plots / Profitable Group. Where are the 250% returns you promised in this advert from 2008?
I guess they went to your French Chateau. £47m gross profit from concorde village can buy a very nice house in France.
FailedInvestor 3 months ago
There is a Profitable Group victim support blog set up that seems to be trying to do something. Do a search for Profitable Group victims in google. Unfortunately it seems highly likely that all the profitable plots are close to worthless and all the money is gone so be careful if you are asked to pay recovery fees. You may be throwing more money away.
StFual 1 year ago
Profitable Group are closing all of their offices in Asia and being investigated by the CAD in Singapore. They are on the MAS investor alert list. ESPN and Channel News Asia CNA should be running stories on this not protecting their friends at Profitable Group. The advertising money Profitable Group paid to ESPN and Channel New Asia was scammed from investors. You should do the right thing and pay it back.
FailedInvestor 1 year ago
@FailedInvestor I agree. I am their Hong Kong victim. What can we do? Does anyone know regarding the outcome of recent legal cases brought against them in singapore or elsewhere?
patnand1 1 year ago
This has been flagged as spam show
Profitable Group is now under investigation by the commercial affairs department (CAD) in Singapore. If you are a concerned investor you should contact CAD directly.
GordonMoron1 1 year ago 2
Comment removed
GordonMoron1 1 year ago
As of 1st June 2010 Investors currently suing Profitable Group in Singapore saying they have not got expected returns. Search for
Profitable group sued
in Google
FailedInvestor 1 year ago
From The UK Daily Telegraph Sunday 14 March 2010 - A Chelgate spokesman said: Circulation of a TV advertisement showing land at Feltham as offering an estimated return of 250 per cent in three years, was aired for a short period in 2006 such advertising has long since been withdrawn. Investments have been sold on a minimum 7 to 10-year horizon.
This advert ran on Channel News Asia in Oct-Dec 2008 and promised 250% in 3 years.
Are Chelgate lying or are they incompetent ?
FailedInvestor 2 years ago
The Monetary Authority of Singapore (MAS) has added The Profitable Group to its Investor Alert List. Search for [Profitable Group MAS] in Google.
From MAS - From time to time, MAS receives information on persons who are possibly conducting activities regulated by MAS without authorisation. Consumers should exercise care when dealing with these persons. Overseas consumers who receive solicitations by persons who claim to have an operation in Singapore should also exercise care .
JoePiper69 1 year ago
Land Banking Companies- Why the majority of them are (legal) scams
The sad truth is the plots of land sold by Land Banking firms have about a 1% chance of receiving planning permission over the next 20+ years. Although of course the land banking firm will give the impression that planning permission will soon be granted.
This has no chance of happening in 3 years
FailedInvestor 2 years ago 2
Investing in English Green Belt Land Banking plots and then a bit more in Patented Boron Engine Additives - sounds like a huge winner to me. But then of course i'm a moron.
GordonMoron1 2 years ago
The Hounslow Chronicle has the following headlines and quotes related to this site.
Scam fears over homes feltham: profit promise to investors despite planning risk.
A PROPOSED 1,000-home development in Feltham is facing claims it is part of an international property scam. The council has been inundated with queries from investors who fear they might not see any return on their money.
The land is in the Green Belt and Hounslow Council has said it will not allow it to be developed.
StFual 2 years ago
Its worse than that, they are thinking of buying Newcastle United FC now! These guys seem to attract dodgy investments!
Up the Boro!
fitforaking 2 years ago
This site is also marketed as Lower Feltham Lakes, Concorde Village. Locals like to call it Green Belt Land in Hounslow since that is what it is. If you are an investor or considering investing in this site it would be good to know what you think you are buying and when.
JoePiper69 2 years ago
Check out a site called property scam in the UK, the wikipedia entry on land banking or the UK land registry site all of which are highly negative about plot based land banking.
Or just do a search for land banking plots in Google.
This company liquidated in the UK end 2007 and is now selling plots of land in Asia.
catseyes96 3 years ago