shlomo Posted January 8, 2021 Share Posted January 8, 2021 Has anybody just got an email from magna group global that they have gone bust https://magnagroupglobal.com/ Quote Link to comment Share on other sites More sharing options...
Smiley George Posted January 8, 2021 Share Posted January 8, 2021 Never heard of them. Keep hearing adverts for this lot on the radio - https://www.kuflink.com/ Would love for them to be next, if only to stop their property investment propaganda. Quote Link to comment Share on other sites More sharing options...
markyh Posted January 8, 2021 Share Posted January 8, 2021 30 minutes ago, shlomo said: Has anybody just got an email from magna group global that they have gone bust https://magnagroupglobal.com/ ?? What did they do? Quote Link to comment Share on other sites More sharing options...
spyguy Posted January 8, 2021 Share Posted January 8, 2021 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. Quote Link to comment Share on other sites More sharing options...
Byron Posted January 8, 2021 Share Posted January 8, 2021 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. Quote Link to comment Share on other sites More sharing options...
spyguy Posted January 8, 2021 Share Posted January 8, 2021 What do they do? https://bondreview.co.uk/2018/11/22/magna-global-aka-mix1-and-mix2-we-review-their-unregulated-bonds-paying-11-7-12-a-year/#comment-80996 Lose peoples money. Quote Link to comment Share on other sites More sharing options...
shlomo Posted January 8, 2021 Author Share Posted January 8, 2021 4 minutes ago, markyh said: ?? What did they do? Invest in property.....LOL Quote Link to comment Share on other sites More sharing options...
spyguy Posted January 8, 2021 Share Posted January 8, 2021 Grow beards Quote Link to comment Share on other sites More sharing options...
Si1 Posted January 8, 2021 Share Posted January 8, 2021 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? Quote Link to comment Share on other sites More sharing options...
shlomo Posted January 8, 2021 Author Share Posted January 8, 2021 I wonder how he paid for his car Quote Link to comment Share on other sites More sharing options...
shlomo Posted January 8, 2021 Author Share Posted January 8, 2021 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?? Quote Link to comment Share on other sites More sharing options...
Si1 Posted January 8, 2021 Share Posted January 8, 2021 (edited) 7 minutes ago, spyguy said: What do they do? https://bondreview.co.uk/2018/11/22/magna-global-aka-mix1-and-mix2-we-review-their-unregulated-bonds-paying-11-7-12-a-year/#comment-80996 Lose peoples money. 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 January 8, 2021 by Si1 Quote Link to comment Share on other sites More sharing options...
A.steve Posted January 8, 2021 Share Posted January 8, 2021 36 minutes ago, Smiley George said: Never heard of them. Could it be an acronym? "Make America Great... Not Again!" Quote Link to comment Share on other sites More sharing options...
spyguy Posted January 8, 2021 Share Posted January 8, 2021 4 minutes ago, shlomo said: I wonder how he paid for his car I wonder how *you* paid for his car.... Quote Link to comment Share on other sites More sharing options...
spyguy Posted January 8, 2021 Share Posted January 8, 2021 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...... Quote Link to comment Share on other sites More sharing options...
Si1 Posted January 8, 2021 Share Posted January 8, 2021 I imagine they actually thought the fund returns would work out? Quote Link to comment Share on other sites More sharing options...
spyguy Posted January 8, 2021 Share Posted January 8, 2021 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. Quote Link to comment Share on other sites More sharing options...
TheCountOfNowhere Posted January 8, 2021 Share Posted January 8, 2021 (edited) 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 January 8, 2021 by TheCountOfNowhere Quote Link to comment Share on other sites More sharing options...
Si1 Posted January 8, 2021 Share Posted January 8, 2021 "“Leader, Visionary, Multiple business owner, Real Estate Developer, Entrepreneur, Supercar enthusiast!”" Thought leaders. It's just an echo bubble from the mid noughties. Quote Link to comment Share on other sites More sharing options...
TheCountOfNowhere Posted January 8, 2021 Share Posted January 8, 2021 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? Quote Link to comment Share on other sites More sharing options...
wighty Posted January 8, 2021 Share Posted January 8, 2021 22 minutes ago, TheCountOfNowhere said: Thief, crook, spiv, ####. Shyster? rich Quote Link to comment Share on other sites More sharing options...
reddog Posted January 8, 2021 Share Posted January 8, 2021 What were the expected returns? Assuming high expected return, sounds like it could potentially be a Ponza scheme. Quote Link to comment Share on other sites More sharing options...
TheCountOfNowhere Posted January 8, 2021 Share Posted January 8, 2021 18 minutes ago, reddog said: What were the expected returns? Assuming high expected return, sounds like it could potentially be a Ponza scheme. 12-18% If a deals too good to be true... Quote Link to comment Share on other sites More sharing options...
Former postman Posted January 8, 2021 Share Posted January 8, 2021 (edited) 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 January 8, 2021 by Postman Quote Link to comment Share on other sites More sharing options...
Huggy Posted January 9, 2021 Share Posted January 9, 2021 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! Quote Link to comment Share on other sites More sharing options...
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