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Boat Buyers Beware...Mysterton Mystery


matty40s

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The crime reported on the 

16 hours ago, Graham Davis said:

Indeed there is in the second posting here, but it wasn't exactly obvious!!

""Shropshire Police crime reference 241SEO8317""

The crime report on the 10th March, but crime reference number says the 8tb March

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49 minutes ago, ditchcrawler said:

Until another crook comes along.

I do not think either of these companies originally set out to defraud customers, indeed Ownerships was on the cusp for celebrating its 21st anniversary when it  went bust. Hardly the actions of someone out to make a quick buck.

I think both were caught out by poor investments (sea going shared boats for Ownerships and shared supercars for Challenger) immediately followed by a recession, and rather than facing reality and putting the company into administration, tried to muddle through in the hope of better times ahead.

Ed Rimmer of Challenger then set about selling more shares than he was supposed to, and subsequently did time for fraud.

Allen Matthews borrowed money from one boat to pay another's debt, and tried to borrow money from his customers by expanding his one off upfront payment in lieu of management fees and eventually ran out of money. 

Since then the new shared ownership companies have introduced seperate accounts for each boat and certificates of ownership for each share sold, which have made it much harder, if not impossible to undertake the same kind of fraud.

However it is always up to the buyer to satisfy himself that whatever he is buying is genuine (caveat emptor).

Edited by cuthound
Spillung
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  • 2 weeks later...
On 14/03/2017 at 14:11, matty40s said:

Be aware that 6 boats have gone missing from Mysterton Marina and are being offered for sale to unsuspecting buyers.

One of the boats had a deposit taken and was ready to be moved to a new location by the buyers. The boats name had a single digit changed.

Is there any more news on this?

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1 hour ago, ditchcrawler said:

Is there any more news on this?

No idea, it's obviously not a straight forward theft of 6 boats from a marina so I didn't bother to report it. My  OP was to warn prospective buyers.

One of the senders of the alert email I saw is a member on here so could have reported it if she so wished.

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