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Just received an email that magna group global have gone bust


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3 minutes ago, markyh said:

?? What did they do? 

 
 
 

AN INTRODUCTION TO MAGNA GLOBAL

 

Established in 2014, Magna Global was set up primarily as a residential developer.

Our focus is maximising asset value by utilising correct asset purchase, adding value through understanding the planning process, activating a mix of units and retaining a consistently high level of specification and understanding of the local market.

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3 minutes ago, markyh said:

?? What did they do? 

As part of our diverse and ever expanding investment portfolio, we offer a range of asset classes. Having started our journey in the residential market, we have built a solid and secure foundation that has allowed us to explore innovative and profitable investment opportunities for our high net worth client base.

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3 minutes ago, spyguy said:
.

Our focus is maximising asset value by utilising correct asset purchase, adding value through understanding the planning process, activating a mix of units and retaining a consistently high level of specification and understanding of the local market.

Focus? Does this include impenetrable English?

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If 39% of the money I’m investing goes on commissions to brokers? How on earth are they able to straight away lose 39% of the funds, and payback an additional 38% in interest to the investor??

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7 minutes ago, spyguy said:

Don't invest in an unrelated investment unless you have done a LOT of homework on them. This goes beyond having learned to use a spreadsheet and bracketed functions and stuff. Or reading the money section of the Mail.

Edited by Si1
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3 minutes ago, shlomo said:

If 39% of the money I’m investing goes on commissions to brokers? How on earth are they able to straight away lose 39% of the funds, and payback an additional 38% in interest to the investor??

Oh oh oh oh. I know this!

They dont......

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1 hour ago, Si1 said:

I imagine they actually thought the fund returns would work out? 

I'm not sure.

The entire p2p seems to be lending to propordee developers.

Mix in loan notes such as this and various others, it's one great unregulated hiding to poverty.

 

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When will people learn!!! 

Roof falls in on couple's £950,000 Magna Global investment

 

https://www.google.com/amp/s/www.mirror.co.uk/news/roof-falls-couples-950000-magna-22170867.amp

 

The sooner this grotesque bubble dies the better for society 

Edited by TheCountOfNowhere
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"“Leader, Visionary, Multiple business owner, Real Estate Developer, Entrepreneur, Supercar enthusiast!”"

Thought leaders. It's just an echo bubble from the mid noughties.

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1 minute ago, Si1 said:

"“Leader, Visionary, Multiple business owner, Real Estate Developer, Entrepreneur, Supercar enthusiast!”"

Thought leaders. It's just an echo bubble from the mid noughties.

Thief, crook, spiv, ####. Shyster? 

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19 minutes ago, reddog said:

What were the expected returns?

 

Assuming high expected return, sounds like it could potentially be a Ponza scheme.

Yeh this smells like a ponzi

Edited by Postman
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9 hours ago, TheCountOfNowhere said:

When will people learn!!! 

Roof falls in on couple's £950,000 Magna Global investment

 

https://www.google.com/amp/s/www.mirror.co.uk/news/roof-falls-couples-950000-magna-22170867.amp

 

The sooner this grotesque bubble dies the better for society 

This loss shouldn't be a problem and is simply part and parcel of investing. Putting money into a single non-regulated asset should be a low single digit percentage of one's total portfolio. It's risky, unregulated, and may return less capital than you put in. This sensible allocation means they still have £50m or so of decent and liquid investments available. Lucky buggers. Chalk it up to experience, take the loss, and enjoy the returns of the ones that are in profit.

Of course, they wouldn't have put everything into this one single risky, non-regulated asset would they?

8 hours ago, TheCountOfNowhere said:

12-18%

Alarm bells!

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