Some Advice Needed Please

I was advised 2016/17 to stop paying my mortgage for three months so it would then be detressed and that was the only way I'd get into the deal .They would then go to my bank and offer to buy it.So at that time I thought this was amazing I'll be worth thousands as they told me when it floated. so I stopped paying for three months I then got into deep trouble with my bank so I started paying it again and they put my arrers on to the end of my mortgage.So where I smelt a rat when I asked for a meeting just before I got out of the deal I met a person friend so I thought I asked would I own my house no he said I said who will own it he neither me or them .Then told I'd pay a lease fee per year which turned out that would be more than I was paying for my mortgage.Then oh I can sell it in 15 years for the current value of that time with the thousands of share money from the IPO I can remain in my house till then .I told him I'd have to get a solicitor to look at this first and I was told not advised.but they have their own solicitor (now I know now that solicitor CEO was struck off and so was the accountant CFA.I read the Malta Terms And Conditions of course I was not told about this that if I failed to pay my lease or went into streres I'd be liable to loose my house.So I got out of that very quick So they came back a second time last week offering me the same deal .I do know this person is working behind the scenes for Moralltach well been used to tie up loose ends of property deals securing all property making sure they meet certain conditions. So there you go.

The CFA their accountant at that time was struck off after his company was investigated for over a million and more of clients money was not accounted for

Dodgyone

Nice so they are trying to defraud the banks as well!

Charlatans.

Justice will be served

Veritas26

@ Bubba - do you know anyone else that has been asked to “sell”* their property for Moralltach shares?

You should direct your buddy to this website. Then he will understand what is going on (assuming he does not already)

*i say “sell” as there is no sale. The property is still owned by the individual and is shown as such on the property register

No I don't know anyone else who has been approached but the list of properties in their portfolio is in their memorndom few houses there .I've spoken to my friends other half two years ago but there to gullible to nice and sucked in

Dodgyone

So long as they don’t become a director they will be ok. Plausible deniability.

RogerthatNinerone

What happens to the properties that are listed in their current portfolio?

Veritas26

In what regard?

RogerthatNinerone

They have properties listed in their memorandum - have they some legal hold on them? Will they be thrown in the pot or is that old information from 2015?

Dodgyone

Unless the individuals have sold them or the bank repossessed they will include them.

There “legal hold” is almost entirely meaningless. To the point they have never generated a cent of revenue, have none on the property register and individuals can still sell.

If I set up a new company todays with 5000 shares and did the follwing

gave you a 1000 shares

you gave me beneficial ownership in your property

it would mirror what they have done.

Dodgyone

They IPO on the basis they own your property.

Pay off your outstanding mortgage with proceeds from the IPO

Transfer the property into the name of Moralltach

You own 20% of the shares in the company. The only asset is your property.

But what Bank /Mortgage company would give them a sale of someone's distressed mortgage they have to meet terms and conditions of Central Bank and they cannot rearrange any previous agreements or agreed contracts of the coustmer as in structured mortgages. My next door neighbor has a structured mortgage meaning they have an agreed amount payable to their mortgage lender until 2026 as they went into arres.After 2026 they have to produce a new Financial Review on their income to see if they can afford to pay more .Now a hedge fund bought the Mortgage off her Bank as it was on their books as a non functioning Mortgage Mars Capital Finance just two weeks ago at a reduced price (Good for the bank good for Mars Capital) So there can be no change in her payments or can the original arrangement be touched until 2026 As agreed from her original lender this is protected by the Central Bank.No how in the name of God can Moralltach do the same no Bank would touch them there not registered with the central bank Also her Mortgage is still hers it's not listed on the property register as Mars Capital there was no sale just a new lender .But yet Moralltach want to take over your mortgage own your house by what ever presentage offer shares that won't happen and lease it back to you that's just insane

Dodgyone

Mars Capital have bought a basket of distressed assets at say 10 cents per Euro. If the cash flows outperform they make money. The property stays with the original owner.

Moralltach want to go to the bank that have the distressed mortgage and buy it outright at a large discount. When they do they move the property into their name. They give you shares for a small % of the property value as previously explained.

Nothing with Moralltach makes sense. It is a flawed business model with misrepresentation to IPO investors, banks and property investors. Only the directors would make any money if they manage to misrepresent to the three parties mentioned.

Veritas26

This is why every single person associated with Moralltach has zero integrity and you will find not one of them ever having worked for a reputable company.

Very true a lot of shady characters through all these years accoicated with them.

Dodgyone

To summarise that very point

CEO - Brennan struck off as a lawyer in Ireland. Patrick Fitzpatrick legal case.

CFO - Linnane adverse regulatory rulings by Chartered Accountants Institute and disbarred from holding client monies.

Legal director - Lohan - investigated for tax fraud and multiple adverse rulings against him by the legal regulatory body. No practicising certificate.

Advisor - Woghiren - multiple reports on the internet of “shady”, “dodgy”behaviour. Mentioned on rip-off report.

Investor relations - Duggan - legal case on Ponzi scheme and pyramid scheme.

Yes and few more in the pile that keep popping up ment to have new crew including new bank in Uk My friend was told William Marshall was the biz little did she know his company thrown off the Cyprus stock exchange just before MoralltachJust one question If they go to the Banks where do they get the money from to buy the mortgages and property that's if they even have any They have no money no shares etc

Dodgyone

No bank in the UK would go anywhere near Moralltach.

The only cash they have ever received has been by selling equity to investors. That has all been squandered. They have no cash.

only way they can get cash is by an IPO and convincing new investors that this is a business and business model worth investing in

Dodgyone

…..which of course is impossible

Dodgyone

I note your comments Bubba that they asked you to stop paying your mortgage so the bank would think that it was distressed debt.

I also expect that they do have many genuine distressed property owners that they are speaking with. These people I suspect are not financially savvy. These people they claim to help.

Even if the overall business concept made any sense the fact that they management will hold 80% of the shares when the only “assets” are the properties is the real scandal here. Effectively means that a €100k property would result in €20k of shares and no prospect of ever buying it back.

So if they got your home say value 300.00 grand for whatever the get it off the bank you only have 20 % of the value so you only own that 20%is that it

Dodgyone

Pretty much yes. They tell you that you get shares equivalent to the value of your property but for every 1 share you hold they hold 4. As your property is the only asset in the company you have shares worth €60k they have €240k.

IPO happens they sell and make €240k.

You need your shares to increase by 500% to ever get it back

I see

Shocking carry on

Dodgyone

You can see this when you look at the IM (for the failed Oz listing) in the number of shares held by “property investors”.

Everyone loses apart from the directors.

It's discrase people been led to believe this

Dodgyone

#whitecollarcrime

Veritas26

Scandalous

Dodgyone

would love someone to come on here to try and support Moralltach. If that ever happens will almost certainly be one of their shady directors!

Who would you start with been so many

whippet

What I can't get my head around is the whole IPO thing .. I know someone who listed on the AIM recently and the cost to apply and get on the exchange came in at about £2.5m .... it's not a cheap / easy process

Dodgyone

Agree but that cost would be for a properly run company with a genuine business model. There would be a huge amount of due diligence to do.

Moralltach is a company with no revenue, no cash. So still expensive but all a flawed concept in the minds of the directors as to how they propose to run a company.

Dodgyone

Larry Woghiren Moralltach advisor rip off report

<Admin Snip>

Dodgyone

His fellow director set up SCNG. Eliseo Partners the company owns shares in SCNG.

SCNG activities also mentioned in the rip off report.

SCNG stock fallen 99.9% and company basically worthless.

<admin snip>

Veritas26

A roadmap for Moralltach?

Veritas26

The bio mentions one of his “landmark transaction included a 1.5 billion IPO in Australia”. Moralltach? The plot thickens.

Dodgyone

Found this on scamion

<admin snip>

This is incredible how come Moralltach has not been exposed.Their still looking for old customers who did not put there property in for the first listing in Australia I was one approached three weeks ago by a so called friend who's involved in Moralltach they where a bit taken back then told me man from Bunclody offices would ring me to explain the deal to me .Of course I put that offer to bed but now that I think of it Of course my so called friend tried to recruit me that's how it works because we trust our friends Remember the scam 2014 Mr O Brien from Dunlaoghaire got 10 years he recuited his best friend's even his Family members .

Dodgyone

It will be exposed Bubba

Dodgyone

Some would say it already is. Anyone that reads this thread will know

Really

Dodgyone

No one in their right mind would invest a cent

Has anyone noticed in Moralltachs portfolio of properties all property investments are stated this is for Houses and Apartments Commercial sites Development sites Office's Filling station Wearhouses. This is what they say at the end of this report the value is 12,905,000 million

Quote this is written at the end of this

THIS IS A MIX OF MEDIUM SIZED TWO AND THREE PROPERTY PROJECTS IN THE MLT PROTFOILO OF ASSETTS CONTAINING RESIDENTIAL AND COMMERCIAL. PROPERTIES WHICH ARE LEASED OR RENTED TO TENANTS.

Which they are saying that are leasing these properties back to tenants

Now that's not the case as my house is on that list which is also over valued. And I did not take them up on their offer (was I lucky)

So this was in 2016 /17 so it was complete false information on their memorndom of portfolio. And now there trying to get these tenants back on that they never had in the first place including me a few weeks ago🤔

Dodgyone

Yes a lie Bubba.

The IM is largely a work of fiction and when the NSX started asking questions they pulled the company from the stock exchange.

They have never received a cent from rent. So the IM was false.

They included properties on the list such as yours which is false.

They overvalued properties which is misrepresentation

They claim to have properties none of which are shown on the property register as owned by Moralltach

They claimed to have government contracts for green energy projects. There were no such contracts and no green energy projects.

Dodgyone

They did not report regulatory rulings against their directors to the stock exchange

So who's money where they using

Dodgyone

They had cash from equity sold on the basis that this was a genuine business. That’s all been spent.

No financial institution anywhere in the world would lend to them. No audits, no integrity, no idea.

Only funding from the CEO I suspect. Most likely paying people with their worthless shares!

Dodgyone

It is those people that paid for cash equity that have a massive case against the directors for misrepresentation.

Property for shares all meaningless - people get shares in a worthless company and give nothing up on their properties. So little that they pay zero each year. So little that they can include properties such as yours that equally they get nothing for as their rights over all those properties are not worth the paper it is written on.

Ok like Patrick Fitzpatrick from Enniskerry and many more seen a guy from UK bought 40 grands worth .