Advantage Investment
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For those who don’t want to type
I and +100 other investors purchased a lodge in a Scottish leisure park. The deal was marketed as 9%apr maturing in 5 years when the owner would buy back the property. The scheme was explicitly marketed as asset backed. This added security helped my peace of mind as I would own a lodge. In the event of bankruptcy I would retain this asset. My agent …….. stated they had done due diligence and it was an excellent deal. Both of these statements I now feel where bare faced lies. At first things went well and I received my quarterly rental income as promised. However my rental income for the second quarter of 2024 was missing. I received a mail from the developer, Mr Andrew Anderson stating that there were cash flow problems relating to the development of the park and payments would resume shortly. My agent Mr……reassured me that Mr Anderson had a good reputation and it was just a blip. Little did I know that 1) as of the 20th May 2024 the developer was actually under administration 2) Mr Anderson had been involved in previously collapsed investments schemes, Hermes Investments 3) Many of the entities involved in running the park had not completed regular business norms such as filling accounts since inception. 4) Most importantly I was not actually the owner of anything. Despite my contract stating in black and white I was the owner of a lodge plot. The owner was in fact the developer. When I complained to Sam Ballard the Operations director of Knight Knox asking him why the scheme had been so misrepresented his reply was “please do not keep pressing our Sales Consultant’s for information. This is a senior management issue and they do not have the answers on the subject.” This was despite the fact that senior management have never engaged with any clients or answered any questions as to how this deal was marketed. I now face losing most of my investment to a fraud that I feel was akin to a Ponzi scheme. Knight Knox have never engaged with clients in any meaningful way. Taking no responsibility and doing nothing to aid or support investors. If you value your savings stay away from these arrogant hucksters
