SMD Exchange - another Carl Wright company!

[chtp0103]

Re: SMD Exchange - BEWARE, another Carl Wright company!

And there's more on Carl Wright's companies in the Daily Mail again today. However, its Eric Fairweather that's taking the rap for it this time.

It's at the bottom of this page: http://www.dailymail.co.uk/money/exp...ise-ashes.html

[Amethyst]

Re: SMD Exchange - BEWARE, another Carl Wright company!

quote from that page

The claims management company merry-go-round never seems to stop.

On May 13, I warned against Tucan Claims, which charged customers big upfront fees, but then did nothing or failed to hand over compensation paid by the banks for payment protection insurance mis-selling.

Bristol-based Tucan collapsed into administration, but as I reported on May 27, boss Melfyn Roberts had already jumped ship and become a director of DWS Claims, which was also demanding upfront fees.

Now DWS, based in Chepstow, Monmouthshire, has hit the rocks. Its website says that due to ‘temporary disruption’ to its phone lines, customers should contact a new company, My PPI Claim Limited, in Manchester.

The boss of the new business – granted a licence by the Ministry of Justice in mid-May – is Eric Fairweather. And he is also the owner of Grass Roots Financial, a claims company that has already been investigated by regulators and had special conditions attached to its licence two years ago.

The Ministry of Justice, which regulates claims firms, says: ‘We are aware of the links between Tucan Claims, My PPI and Grass Roots.

‘Our investigations are continuing and appropriate steps are being taken using the powers available to us to deal with any business malpractice and to secure the best possible protection for consumers.’
If you believe you are the victim of financial wrongdoing, write to Tony Hetherington at Financial Mail, 2 Derry Street, London W8 5TS. Because of the high volume of enquiries, personal replies cannot be given. Please send only copies of original documents, which we regret cannot be returned.

Read more: http://www.dailymail.co.uk/money/exp...#ixzz1zUhCeTBG

and of course, if you wondered, Grass Roots is pretty much Cartel Client Review.

[CleverClogs]

Re: SMD Exchange - BEWARE, another Carl Wright company!

The Ministry of Justice, which regulates claims firms, says: ‘We are aware of the links between Tucan Claims, My PPI and Grass Roots.

‘Our investigations are continuing and appropriate steps are being taken using the powers available to us to deal with any business malpractice and to secure the best possible protection for consumers.’

Utter nonsense.

The "best possible protection for consumers" would be to XXXXX Carl Wright.

[chtp0103]

Re: SMD Exchange - BEWARE, another Carl Wright company!

I really don't understand Eric Fairweather's involvement in all this. If you research him, on the face of it he seems an upstanding bloke with successful companies behind him. How did he get involved with a conman like Carl Wright? And presumably when Grass Roots Financial goes under owing people a load of money (because Carl Wright's spent it all again), it's going to be Eric Fairweather's neck on the line. Carl Wright's not known for taking the blame for his own actions.

[Crowie]

Re: SMD Exchange - BEWARE, another Carl Wright company!

Jesus, how is this bloke getting away with it like this?

I wondered if this might be relevant in order to get this bugger disqualified from acting as a Director.

http://webarchive.nationalarchives.g...lification.htm

[Amethyst]

Re: SMD Exchange - BEWARE, another Carl Wright company!

Eric Webb used to be a 'master agent' (or whatever they called them) for Cartel. As I recall when we looked in to them previously he and his wife were both involved in Cartel and set up Grassroots jointly as an offshoot for the debt management side of things. Not sure when Eric Fairweather came into it or if he;s the same guy. There's loads of history over on scam.com - http://www.scam.com/showthread.php?t=126656 - though take a lot with a pinch of salt as Cartel had a lot of competitors as well as enemies and victims.

This might be of interest http://www.businessopportunitywatch.com/BOW-review-of-Cartel-Client-Review.htm#gras
and
http://www.thisismoney.co.uk/money/n...aims-firm.html

[chtp0103]

Re: SMD Exchange - BEWARE, another Carl Wright company!

Eric Fairweather became the sole director and 75% shareholder of Grass Roots Financial Ltd on 23/04/2010. He took over all the Webb's shares and Carl Wright's pension holds the remaining 25%. Eric Fairweather was previously involved with other companies of Carl Wright: Universal Market Funding Ltd, Cartel Group Holdings plc and Cartel Marketing Ltd. He's currently involved with other Carl Wright companies: Grass Roots Financial Ltd, My PPI Claim Ltd and Alternative Debt Management Ltd.

These are quite obviously all owned and run by Carl Wright if you consider all the other information about them, but he's been trying to publicly hide his involvement with all these companies for some time now. Why Eric Fairweather has agreed to provide this cover for him is unclear. Looking at Eric Fairweather's other business dealings, he doesn't appear to be a conman on the face of it. So why he's getting involved with a shady character like Carl Wright is unknown. Perhaps he has something over him or Carl Wright owes him a large chunk of money which he's promised to get back if he helps out. It wouldn't be the first time he'd borrowed large sums of money from people on the promise of it being an "investment". I seem to remember a Charles Ingham being fleased out of a couple of million pounds by Carl Wright's promises.

[chtp0103]

Re: SMD Exchange - BEWARE, another Carl Wright company!

Carl Wright's just posted the accounts for his two companies that were both overdue: Sales Management Distribution Services Ltd and SMD Assessment Services Ltd. These were both delivered late and both show significant deficits. They have the usual excuse in the accounts to explain the financial problems, stating that the director is going to help out with cash flow, etc.

I'm sure everyone recognises the pattern by now. Carl Wright has no business skills or business abilities to set up a real company. What he does is set up a company pretending to provide a service. Then he persuades people to part with an up front deposit for those services. He then sets up loads of other related companies so he can move cash around between them all. A big salary is then paid to him, made up of the money people have handed over in good faith as deposits. Carl Wright keeps the companies going as long as he can by inventing invoices between the companies to make the accounts look borderline legal. Finally, the companies start to show cracks and then accounts with deficits in the shareholders' funds are filed, usually late as these two were. To fully cover my arse, I'm not saying that there is concrete proof that he is doing this again with the latest companies. I'm saying that Carl Wright has done this several times before and the latest companies seem to show the same pattern.

However, it does look like the SMD group of companies are on their last legs and everyone's money is about to disappear into Carl Wright's pockets again. Why no-one has stopped this man doing this yet I don't know. We've had the Cartel Marketing Ltd "business", followed by the Cartel Client Review Ltd "business" and he's still being allowed to do this with SMD Exchange Ltd and the related companies.

As most people know, Carl Wright is an accomplished liar. From the people I've spoken to who know him, they've said he tells so many lies to get his own way, both in his business life and in his personal life, that he often has difficulty himself knowing what's true and what he's made up. Whatever he wants, he makes up stories to try and make them fit the facts. Speaking to people who used to work for him, he even managed to string his ex-wife along for years claiming there was nothing going on with him and Asha Solanki. However, I can't believe after so many of his "companies" going bust in the same fashion, that anyone from HMRC, MoJ, the official receiver, etc., can still be believing the stories he makes up. However, here he is, doing the same old trick and getting away with it.

I'm sure in a couple of months we'll be hearing about SMD Exchange Ltd and the associated companies going under, taking everyone's money with it again. According to its accounts, Sales Management Distribution Services Ltd already had "debtors" of over £100,000 last September, going some way towards balancing the £120,000 of money it owed people. What's the betting that these debtors are other companies of Carl Wright's, doing the merry-go-round of imaginary invoices to prop up the accounts, just as was done with Cartel Client Review Ltd and Cartel Marketing Ltd before it.

So if you've just stumbled across this thread because you're thinking about giving money to any of Carl Wright's companies listed near the top of this thread, then please have a look at the links to the other boards near the top of this thread (e.g. scam.com) to see what Carl Wright has done in the past. It would be nice to think that threads like this may save at least one person from handing money over to another one of Carl Wright's "businesses".

[Amethyst]

Re: SMD Exchange - BEWARE, another Carl Wright company!

Can you post up copies of the accounts in question ? just so people can assess for themselves - sometimes black and white is best as it can't be explained away with the usual ' disgruntled ex employee' etc type rubbish.

[chtp0103]

Re: SMD Exchange - BEWARE, another Carl Wright company!

I've got them as PDF files. Is there any way to attach these?

[Amethyst]

Re: SMD Exchange - BEWARE, another Carl Wright company!

Yes if you click REPLY and then GO ADVANCED (bottom right) the reply box will have a picture of a paperclip up next to the smiley face which is how you get to the attachments system. Any problems (with file size etc) then you can email them to me - admin@legalbeagles.info - and I'll pop them up for you.

Thank you,

[chtp0103]

Re: SMD Exchange - BEWARE, another Carl Wright company!

Accounts for Sales Management Distribution Ltd. If anyone needs any proof that this company is run by Carl Wright, let me know.

[chtp0103]

Re: SMD Exchange - BEWARE, another Carl Wright company!

Accounts for SMD Assessment Services Ltd. Once again if anyone needs any proof this company is run by Carl Wright let me know.

[bluebottle]

Re: SMD Exchange - BEWARE, another Carl Wright company!

What you have to understand about the likes of Carl Wright is that they play the system and stay just within the law. However, when things go mammaries-up, they blame everyone and everything, but themselves for the failure of the company/companies. In order to nail Carl Wright, the BIS's Enforcement & Investigation Department would need substantial evidence that he was using the companies as vehicles for fraud before they could act. Fraudulent Trading is another reason they could use for investigating him. However, beware, people like Carl Wright are slippery characters and will find a way of avoiding a trip to the custody suite of the nearest police station. If anyone has good evidence of Carl Wright's shenanigans, contact your local Trading Standards Department.

[Amethyst]

Re: SMD Exchange - BEWARE, another Carl Wright company!

I don't know if anyone has dug this little gem up: http://company-director-check.co.uk/director/905050643

I was surfing for "old friend" Basil Rankine and these ended up being linked

Just out of interest, not sure if it's already been flagged up.
http://www.birminghammail.net/news/t...7319-31368425/
(have posted it on the momentum network thread as well)