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Some Advice Needed Please

  • 05-08-2016 3:52pm
    #1
    Posts: 0 [Deleted User]


    I've already posted in the Entrepreneur section but not sure if relevant there (or here for that matter)

    Hello
    I am hoping that some of you can throw some light on this for me please. I have no head for business but I fear the worst in this situation. I had a look at the company concerned website but cant understand what they are about.

    Here is what I need help with.

    This morning an elderly neighbour was over for tea and a chat. During the course of the conversation he mentioned that he and his son had been to a conference in the midlands with a company named Moralltach.

    I am aware that my neighbour and his son are currently experiencing difficult times financially and I fear that what they picked up at this conference can not be good for them.

    Here is what he told me:

    If he invests €1000 with this company he will be returned €4000 after a period of 6 weeks. I find this part very difficult to believe.

    But this part is more worrying.
    By making the investment the door is then opened for a loan of €100,000. This loan will be charged at 5%pa and the FULL amount must be returned after 5 years.

    He and his son plan on borrowing to purchase young horses (this is their line of work) and to resell at the sales hopefully at profit.

    He assures me that no collateral is needed. Again I find this difficult to believe.


    Can anyone throw some light on this company and also on the likelihood of this investment and outcomes?

    I am genuinely concerned that they are about to be taken advantage of and could lose the little that they have.

    Thanks folks.


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Comments

  • Registered Users Posts: 7,494 ✭✭✭ BrokenArrows


    Had a look at their website and the biggest problem i see if their email address is @gmail.com. Dodgy.

    Yes a 4000% return in 6 weeks is impossible and im sure there is some interesting small print.

    If they want to risk being in debt by 100k i suggest you advise them to seek legal advice before signing anything.


  • Registered Users Posts: 534 ✭✭✭ chompdown


    Had a look at their website and the biggest problem i see if their email address is @gmail.com. Dodgy.

    Yes a 4000% return in 6 weeks is impossible and im sure there is some interesting small print.

    If they want to risk being in debt by 100k i suggest you advise them to seek legal advice before signing anything.
    Way too good to be true,and the gmail address is an alarm bell. Do they even have offices? The Offices page links to a virtual tour and I see no address.

    Also this sentence is extremely amateurish.

    Today Moralltach PLC is on the brink of becoming a PLC (Public Limited Company) on the Global Stock Markets.

    So it's not even a PLC and unlikely to ever be one in my opinion.

    Your neighbours should order the company accounts from here

    http://www.solocheck.ie/Irish-Company/Moralltach-Holdings-Limited-460254#report-3

    They probably have their hearts set on this so you're gonna have to handle them with kid gloves. Great that you are looking out for them.


  • Closed Accounts Posts: 2,379 ✭✭✭ newacc2015


    There is no way you can make €3000 in 6 weeks risk free. Why is a company that is willing to lend €100k wanting to borrow €1000 at a ridiculous interest rate?


  • Registered Users Posts: 27,467 ✭✭✭✭ drunkmonkey


    Yes a 4000% return in 6 weeks is impossible

    I wouldn't say impossible grow the 1000 by less than 3.4% a day and you'll have over 4000 in 6 weeks.


  • Registered Users Posts: 2,435 ixus


    This is a very difficult situation. You may not be thanked for either way. If you can dig up research showing complaints that would be good.

    If you could explain that these are sales people and trying to make commission. Ask them to figure out what the worst case scenario is and to be prepared for that if they refuse to listen to logic.


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  • Registered Users Posts: 21,259 ✭✭✭✭ Esel


    Had a look at their website and the biggest problem i see if their email address is @gmail.com. Dodgy.

    Yes a 4000% return in 6 weeks is impossible and im sure there is some interesting small print.

    If they want to risk being in debt by 100k i suggest you advise them to seek legal advice before signing anything.

    Is it not a 300% return?

    Not your ornery onager



  • Closed Accounts Posts: 6,087 Pro Hoc Vice


    TheTorment wrote: »
    I've already posted in the Entrepreneur section but not sure if relevant there (or here for that matter)

    Hello
    I am hoping that some of you can throw some light on this for me please. I have no head for business but I fear the worst in this situation. I had a look at the company concerned website but cant understand what they are about.

    Here is what I need help with.

    This morning an elderly neighbour was over for tea and a chat. During the course of the conversation he mentioned that he and his son had been to a conference in the midlands with a company named Moralltach.

    I am aware that my neighbour and his son are currently experiencing difficult times financially and I fear that what they picked up at this conference can not be good for them.

    Here is what he told me:

    If he invests €1000 with this company he will be returned €4000 after a period of 6 weeks. I find this part very difficult to believe.

    But this part is more worrying.
    By making the investment the door is then opened for a loan of €100,000. This loan will be charged at 5%pa and the FULL amount must be returned after 5 years.

    He and his son plan on borrowing to purchase young horses (this is their line of work) and to resell at the sales hopefully at profit.

    He assures me that no collateral is needed. Again I find this difficult to believe.


    Can anyone throw some light on this company and also on the likelihood of this investment and outcomes?

    I am genuinely concerned that they are about to be taken advantage of and could lose the little that they have.

    Thanks folks.

    The site claims that one of its assets is a well known hotel owned by a well know family, sounds suspect.


  • Registered Users Posts: 27,467 ✭✭✭✭ drunkmonkey


    ixus wrote: »
    If you can dig up research showing complaints that would be good.

    I've tried very hard on google to find anything about him or his wife, besides being directors of about 9 companies and some of them with judgments against them i'm drawing a blank. I really think this guy and his wife have had their data removed by google. It's nearly impossible for directors with that many companies and claimed fame not to exist on google.

    He does on the website kinda claim to own Finnstown castle hotel, I'd suggest his neighbour give Anne Mansfield a call and ask her did she sell up:D

    http://moralltachplc.com/our-portfolio.php?page=hotels


  • Posts: 0 [Deleted User]


    Thank you so much for helping me.

    I have taken note of the points made here and I will attempt to highlight them to my neighbours.

    I just hope they listen.


  • Closed Accounts Posts: 2,379 ✭✭✭ newacc2015


    TheTorment wrote: »
    Thank you so much for helping me.

    I have taken note of the points made here and I will attempt to highlight them to my neighbours.

    I just hope they listen.

    People can very defensive about finances. People arent rational when thinking about them. My approach which other might improve on would instead of telling it sounds wrong or a scam, would be to sit down work through the points others have said to get them to the conclusion it is too good to be true, rather than explicitly telling them.

    People will accept medical advice with no issue. You might have people who cant understand the difference between credit and debit, but think they are Warren Buffet when it comes to finance. Steer the conversation with neighbour in such a way they realise its too good to be true themselves with your help


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  • Registered Users Posts: 7,494 ✭✭✭ BrokenArrows


    Esel wrote: »
    Is it not a 300% return?

    I meant to type 4000€ not % :)


  • Registered Users Posts: 21,259 ✭✭✭✭ Esel


    I meant to type 4000€ not % :)

    Confused on 'return' as well? :)

    Not your ornery onager



  • Registered Users Posts: 7,494 ✭✭✭ BrokenArrows


    Esel wrote: »
    Confused on 'return' as well? :)

    Nope. OP said 4000 returned after 6 weeks.


  • Registered Users Posts: 1,788 ✭✭✭ Cute Hoor


    It would be interesting to hear what 'Messers Lohan and Company Solicitors' from 'Atalowe, Ireland' think of this.

    Their 'Corporate Governance' page is pretty interesting as well, just a Maltese certificate of registration.

    [Snipped]

    Try to encourage your friends to do some significant research before committing


  • Registered Users Posts: 1 MuppetX


    Hi Guys,
    Sorry to necro this thread, but just wondered if anything came of this?
    I know some people who have "invested" a lot of money with this company in the hope of getting back 4x what they put in.
    I have done some digging and the website is now Under construction. Guessing it was past it's renewal date. Also the company is actually registered on the Australian stock exchange, but doesn't look like it will get an IPO.


    Thanks,

    MuppetX


  • Registered Users Posts: 26 mylo10


    National Stock Exchange of Australia (NSX), Their code is : MLG

    Moraltach Global Plc


  • Moderators, Category Moderators, Arts Moderators, Business & Finance Moderators, Entertainment Moderators, Society & Culture Moderators Posts: 17,710 CMod ✭✭✭✭ Nody


    winnie32 wrote: »
    Hi i seen this company on the index Australia .Listed for February 27 .Now someone said it does not look like they will get I.P.O how do you know this.I have a friend that was approached to invest their property in return for mortgage free meaning they will pay their mortgage and the person will be mortgage free for 15 years and a shares in the company.Has anyone else done any more research on this.
    There is a simple answer to any too good to be true deal; run like hell in the other direction. 99.999% of these type of offers are scams in various forms; it can be from selling shares way above market price and claiming they are going to sky rocket (esp. for shares not listed yet) to promises on new revolutionary ways to manage money with unheard of return on investments etc.

    The simple fact is if the claims where true they would never bother to approach a stranger about it and keep it to themselves or at worst sell a equity piece to a larger corp. valuing the company for the billions they claim the company will be worth.


  • Registered Users Posts: 17,288 ✭✭✭✭ Thargor


    Heh, this thread is the first result when you google the companies name:

    https://www.google.ie/search?q=Moralltach+PLC&oq=Moralltach+PLC&aqs=chrome..69i57&sourceid=chrome&ie=UTF-8


  • Registered Users Posts: 949 ✭✭✭ Prezatch


    My god this looks dodgy. Check out the Celtic logo :pac:

    mlg_logo.png

    https://www.nsxa.com.au/float_details.asp?nsxcode=MLG


  • Registered Users Posts: 949 ✭✭✭ Prezatch


    Did a bit more digging, so Moralltach are also registered in the UK... with one of the same directors (John Kieran Brennan) and also a man named Gerwyn Duggan. Gerwyn can be seen here trying to flog membership to 'Viral Angels', a 'closed equity club'. Gerwyn also won a free mercedes whilst being a member of the club (http://cjmorris.co.uk/viral-angels)... There are other photos of him on google standing next to a Porsche and a jaguar having a great time.

    The company secretary is listed as Andrew Bristow

    He's also the secretary for energy solutions ltd (http://www.energysolutionsintltd.com/index.php/directors-management) and anchor capital investments (http://anchorcapitalinvestments.com/index.php/directors-management/27-company-directors). Anchor capital have an awesome blog here - https://financepr.wordpress.com/page/2/ and a hilarious annual report here - signed off by their auditors in Islamabad.. but of course.


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  • Registered Users Posts: 5,440 ✭✭✭ daheff


    I'm going to say that a company listed on the stock exchange is subject to quite a lot of due diligence and scrutiny. I can't see how (or why) a ponzi scheme company would put itself forward for such scrutiny.

    This is assuming the companies are the same company.....and not somebody piggybacking a company they knew was going to be listed soon.


    https://www.nsxa.com.au/float_details.asp?nsxcode=MLG


    still wouldn't invest meself....too good to be true usually is!


  • Registered Users Posts: 1 Hello_oops


    So what should they do if they've already invested?


  • Registered Users Posts: 1 Figureman


    But surely these shares are only of value if there are buyers there for them. There have been no trades after 3 days. Is this unusual for a new company with such a large market cap?

    I note the company is listed on Bloomberg but all it states is it has 700 million shares outstanding. There is no share price listed. Why would it not quote the market price of share?


  • Registered Users Posts: 949 ✭✭✭ Prezatch


    daheff wrote: »
    I'm going to say that a company listed on the stock exchange is subject to quite a lot of due diligence and scrutiny. I can't see how (or why) a ponzi scheme company would put itself forward for such scrutiny

    [snipped]

    Our friend Andrew Bristow is also apparently the secretary of Alhamra Hotel which incredibly has seen price movement (http://alhamrahotelresort.com/index.php/nsx-stock-quotes)

    And here's another one linked to him, Alliance Global. They say they own 50% of Premium Ventures Ltd, a company that previously had the secretary UK Company Secretaries Ltd, run by Paul Blackburn. And they are linked to yet another company called Excolere Ltd which have [snipped] a kickstarter project page that raised an outstanding 3,700 GBP off unsuspecting punters.

    It really is incredible the lengths these people have gone to, and scary to see the amount of people involved in keeping it going with the same names, addresses and pictures cropping up the more you look.


  • Registered Users Posts: 595 ✭✭✭ 09_09_09


    Prezatch wrote: »
    Did a bit more digging, so Moralltach are also registered in the UK... with one of the same directors (John Kieran Brennan) and also a man named Gerwyn Duggan. Gerwyn can be seen here trying to flog membership to 'Viral Angels', a 'closed equity club'. Gerwyn also won a free mercedes whilst being a member of the club (http://cjmorris.co.uk/viral-angels)... There are other photos of him on google standing next to a Porsche and a jaguar having a great time.

    The company secretary is listed as Andrew Bristow

    He's also the secretary for energy solutions ltd (http://www.energysolutionsintltd.com/index.php/directors-management) and anchor capital investments (http://anchorcapitalinvestments.com/index.php/directors-management/27-company-directors). Anchor capital have an awesome blog here - https://financepr.wordpress.com/page/2/ and a hilarious annual report here - signed off by their auditors in Islamabad.. but of course.

    Just read that financial statements. Loads of bollocks. I'd like to know how that fecker in Islamabad managed to sign the audit report for them.


  • Closed Accounts Posts: 11,812 ✭✭✭✭ evolving_doors


    Maybe I'm missing something ... what do they make....or what service do they provide?


  • Registered Users Posts: 1,812 ✭✭✭ Wesser


    With decisions like that........No wonder they are already in financial difficulty........


  • Registered Users Posts: 5,227 ✭✭✭ The J Stands for Jay


    Gebgbegb wrote: »
    Maybe I'm missing something ... what do they make....or what service do they provide?

    Investments apparently. But also nanotechnology manufacturing.


  • Registered Users Posts: 1 neill32


    I know a few people who have invested their homes on a 15 year lease which means they no longer own their homes.They float them on the market at very high rates of interest to the now leaser .They pull in new investment to pay exiting share holders.They have been halted to stop trading on the Australian stock exchange today failure to complete financial returns for 2016


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  • Registered Users Posts: 184 ✭✭ ftse100


    MLG Trading Halt...

    Who would have guessed?


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