Who Is The 79th Group?
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The 79th Group promised investors the opportunity to earn guaranteed returns but thousands of people have ended up losing large amounts of money.
What seemed like a brilliant investment opportunity has turned into a financial nightmare with millions of pounds lost when the company went into administration.
The 79th Group branded itself as a “diversified asset management company” operating across real estate, aviation, natural resources, and wealth management.
According to their marketing materials, they specialised in investments, acquisitions, and financial management with mining operations in Canada and Guinea.
Investors were offered : “fixed returns between 12% for a minimum £10,000 investment and 15% for a minimum £25,000 investment“.
They were told that they were giving loan notes that were secured against genuine assets. Loan notes are debt instruments that promise repayment of a principal sum with interest.
Key Staff at 79th Group:
- The CEO of the company was Natalie Bellis, who was described as a highly experienced compliance specialist.
- David Webster, the Chairman
- Jake Webster, the Managing Director
- Curtis Webster, the Investment Director
There are thought to be 80 associated members involved with the company.
So far, four people have been arrested in connection with 79th Group.
The 79th Group made big promises with a website seemingly showcasing all of its work in great detail.
You can view the website here: Unlocking Potential In Natural Resources | Seventy Ninth Resources
Videos on the website showed members of the 79th visiting Guinea and talked about the advantage of ‘unlocking potential in the global natural resources market.’
To give reassurance to would-be investors the law firm names a number of business partners, including a law firm in Gibraltar, where the company was based, and a Top 4 accountancy firm.
The 79th Group also regularly appeared in the media where it would speak of its successes.
National Fraud Helpline is keen to help victims of the 79th Group if it is proved that a fraud has been committed.
What Are The Police Doing About 79th Group?
The City of London Police is investigating the 79th Group as a suspected widespread fraud.
The police force has said that so far four people have been arrested in connection with 79th Group.
Aa part of the investigation large amount of cash, luxury watches and jewellery were found during searches of properties. All of these items have been seized.
All people arrested have been released on bail and enquiries are ongoing.
The police are appealing for more victims to come froward as they investigate whether a scam has been committed.
To submit information, people are asked to contact the City of London Police by completing a questionnaire on the Major Incident Public Portal (MIPP). You can do this via the following methods:
Find more information about the police investigation here: 79th Group investment: Appeal for potential victims of investment fraud to come forward | City of London Police
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