Some Advice Needed Please

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.

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.

chompdown

BrokenArrows wrote: »

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.

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?

drunkmonkey

BrokenArrows wrote: »

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.

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.

Esel

BrokenArrows wrote: »

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?

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.

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

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.

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

BrokenArrows

Esel wrote: »

Is it not a 300% return?

I meant to type 4000€ not %

Esel

BrokenArrows wrote: »

I meant to type 4000€ not %

Confused on 'return' as well?

BrokenArrows

Esel wrote: »

Confused on 'return' as well?

Nope. OP said 4000 returned after 6 weeks.

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

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

mylo10

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

Moraltach Global Plc

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.

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

Prezatch

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



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

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.

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!

Hello_oops

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

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?

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.

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.

evolving_doors

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

Wesser

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

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.

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

ftse100

MLG Trading Halt...

Who would have guessed?

Savvy_Player

They have gone from a Trading Halt to Suspended over 2 days, what does this mean exactly?

Kaiser74

Looks like things have moved on..

Thargor

Kaiser74 wrote: »

Looks like things have moved on..

Why whats happening?

winnie3236

There is still no volume of shares on the index, no web page still under construction and the directors are tied into to the deal for only four years while investors are in for fifteen years.A quick deal for them me thinks.

winnie3236

There web page is still under construction .The way it works they look for stressed property and approach( well meant to months ago )The Banks re negotiate a price for your property less is best,then float the actual value of your property on the exchange.Then you are now a lessee of your property you can never sell it it is now bound in a contract for 15 years.So they actually own it. Here's the catch you are swallowed in by the mortgage free for fifteen years!!! but you pay from your shares (that have not had any volume yet so no trade) €20.000 first year €15.000 second year and €10.000 for the next 13 years.So although your Mortgage free you have to pay them rent of your property which is higher per year than you would be paying your mortgage.This so called money you pay is meant to come out of your shares.So after 15 years they have got from you €165,000 prob more than your mortgage.So if your still alive in 15 years you can buy back your property but at the full market at that time so they gain another couple of thousands.Now this is subject to capital gains tax and other taxes you will have to pay.So what happens if you don,t make €20.000 in the first year you will have to pay interest on late fees.And if there is not enough investment companies to keep adding to the pile well it collapses.So new investors have to keep coming in to pay old investors. So no Web page still and if you google any companies that are the 20 first investors it is very interesting t see who has the most shares.

Sebastian Dangerfield

So what do "investors" have to gain? You give them control over your home for 15 years, you pay extortionate rent, and you can't sell. What do you get in return? Others do the same, and the profits from that, less healthy salaries for management / directors, flow down to you?

Im struggling to follow this one. It went from putting in 1k in return for 4k, in return getting access to a 100k loan at 5%, to mention of peoples houses. Did I miss something in between?

Savvy_Player

winnie3236 wrote: »

There web page is still under construction .The way it works they look for stressed property and approach( well meant to months ago )The Banks re negotiate a price for your property less is best,then float the actual value of your property on the exchange.Then you are now a lessee of your property you can never sell it it is now bound in a contract for 15 years.So they actually own it. Here's the catch you are swallowed in by the mortgage free for fifteen years!!! but you pay from your shares (that have not had any volume yet so no trade) €20.000 first year €15.000 second year and €10.000 for the next 13 years.So although your Mortgage free you have to pay them rent of your property which is higher per year than you would be paying your mortgage.This so called money you pay is meant to come out of your shares.So after 15 years they have got from you €165,000 prob more than your mortgage.So if your still alive in 15 years you can buy back your property but at the full market at that time so they gain another couple of thousands.Now this is subject to capital gains tax and other taxes you will have to pay.So what happens if you don,t make €20.000 in the first year you will have to pay interest on late fees.And if there is not enough investment companies to keep adding to the pile well it collapses.So new investors have to keep coming in to pay old investors. So no Web page still and if you google any companies that are the 20 first investors it is very interesting t see who has the most shares.

It looks more like a economic bubble to me.

MuppetZ

Hi,

New website here, https:// moralltachglobal (dot) com/
but it doesn't look like any new information, in fact a lot less than the previous one.

750,000 shares up for sale for quite a while, but who is going to buy them based on the website info? If you knew nothing of the company and looked at that website and all the information on this board, would you risk it?

Still, some people I know did, and won't be told it's a scam. They've been told to hang onto their shares as they are under-valued.

And what happened to the post from someone saying that he was promised a legal team? was it deleted by mods or by the user? Very strange goings on.

I'm not very clued up on all the share dealing thing, but doesn't the company only make money from the IPO? and any share trading afterwards only benefit the shareholders?

So the company floats, makes money, tells the punters not to sell their shares whilst the directors share out the IPO, and run with it? Oh, and they also have your house you can't buy back because you can't sell your shares because no one wants them.

Sounds legit to me.

Savvy_Player

Looks like they might be moving in to the Pink Open Market, for anyone who doesn't know what that is:
"The Pink Open Market offers trading in a wide spectrum of securities through any broker. With no minimum financial standards, this market includes foreign companies that limit their disclosure, penny stocks and shells, as well as distressed, delinquent, and dark companies not willing or able to provide adequate information to investors. As Pink requires the least in terms of company disclosure, investors are strongly advised to proceed with caution and thoroughly research companies before making any investment decisions."

Gaillimh1976

Savvy_Player wrote: »

Looks like they might be moving in to the Pink Open Market, for anyone who doesn't know what that is:
"The Pink Open Market offers trading in a wide spectrum of securities through any broker. With no minimum financial standards, this market includes foreign companies that limit their disclosure, penny stocks and shells, as well as distressed, delinquent, and dark companies not willing or able to provide adequate information to investors. As Pink requires the least in terms of company disclosure, investors are strongly advised to proceed with caution and thoroughly research companies before making any investment decisions."

Is that also an Australian market?

I don't get what the Australian connection is - or is it just the easiest/cheapest place to get listed without having to do much paperwork ?

nuac

Anyone thinking of investing in that outfit should go for a healthy walk

michaelp97

Hi looking to start investing with a fund of 10k and just seeking advice as to what would be the best stock brokerage I could use and is 10k too small to invest in a hedge fund? Or venture capital worthwhile?

Kaiser74

I see moralltach is listed on the aus stock exchange when many said it would never happen.. Anyhow if your lease with them is to be paid with shares that are given in return for the property then no cash needed. And if shares rise then happy days.. I wonder could your property be purchased sooner than the 15 years if shares were to double..

michaelp97

Just looking for a bit of advice, I'm a college student with an interest in investments and business, just wondering what's a good way to research companies to invest in like learning which company to select and what to research within the company or how to find companies to research that ate not the hugely known companies. Thanks

Gaillimh1976

Kaiser74 wrote: »

I see moralltach is listed on the aus stock exchange when many said it would never happen.. Anyhow if your lease with them is to be paid with shares that are given in return for the property then no cash needed. And if shares rise then happy days.. I wonder could your property be purchased sooner than the 15 years if shares were to double..

They have been quoted for just over 4 months and there has not been one single trade.

More likely to halve than double.

Kaiser74

I would imagine that they need to start trading soon to keep momentum in attracting new business.. I would expect trading soon

Prezatch

Why is this still even being discussed? It's beyond me. How many times do people need to read the word 'scam' before they believe it? I should just upload a pdf which asks people to send free money to my little bank account in Moate like this 'company' does if people are this gullible.

Kaiser74

Scam???

shironinja

Anybody able to find info on Directors?CFO is an accountant with a small practice in Westmeath.Can't seem to find anything on others.

Accountant Nick Linnane is the subject of a regulatory decision made by the charter accountants of Ireland withdrawal of firms investment of clients money.And a question of 1.2 million of clients money according to NSE of Australia. Address ivy House Moath