The Sharks Exposed - New Costa del Sol Action Group
The Sharks Exposed - New Costa del Sol Action Group
The Sharks Exposed - New Costa del Sol Action Group
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Prima Capital Guaranteed<br />
Investment Fund<br />
Introduction<br />
Prima purport to provide a guarantee of<br />
100% of the capital, but obtain a return by<br />
investing in trading securities, warrants,<br />
rights issues, bonds, traded options,<br />
derivatives, contracts for differences,<br />
commodities, foreign exchange and<br />
“short term venture capital projects” and<br />
other hedge funds.<br />
Kevin Scott is the CEO and they state<br />
that the average returns for the past few<br />
years have been just under 25% p.a. We<br />
cannot find any independent evidence<br />
that substantiates this claim. <strong>The</strong>re is no<br />
clear explanation of how the guarantee is<br />
provided. As this arrangement purports<br />
to provide a 100% guarantee of invested<br />
capital no-one should proceed without<br />
understanding how the guarantee is<br />
provided and in particular who the<br />
guarantor is an in what circumstances it<br />
applies.<br />
If for example, the guarantee is provided<br />
by a bank investors will need to know<br />
the likelihood, or otherwise, of the bank<br />
meeting their obligations under this<br />
arrangement.<br />
Many investors in products guaranteed<br />
by Lehman Brother have lost their entire<br />
investment due to the failure of the<br />
bank.<br />
<strong>The</strong> address is Suite 35, 235 Earls Court<br />
Road, London SW5 9FE - Telephone<br />
020 7043 0941.<br />
Prima Private Capital Ltd was<br />
incorporated on 29th May 2008 and has<br />
the same address as 235 Earls Court as<br />
www.costa-action.co.uk<br />
its<br />
registered<br />
office and with<br />
Kevin Scott as<br />
founding company secretary. It is<br />
described at Companies House as<br />
“active”.<br />
No accounts have been filed.<br />
See also www.primaprivateclient.com.<br />
<strong>The</strong> web site states that the Registered<br />
Office of Prima Private Capital<br />
(London) is 60 Market Square, 60 Belize<br />
city, Belize has been used as a location<br />
for a number of frauds in the past.<br />
Neither the website nor advertisements<br />
state that they are authorised, as is<br />
required by law. <strong>The</strong>refore one can<br />
conclude that they are either not<br />
authorised, or if they are authorised they<br />
are unaware of their obligations under<br />
the EU Financial Services Laws.<br />
<strong>The</strong>ir claims to make returns of some<br />
25% with a 100% guarantee are simply<br />
too good to be true, in our opinion.<br />
<strong>The</strong> investments that they refer to are<br />
very high risk, and do not come with<br />
guarantees unless there are considerable<br />
associated costs, which would always<br />
limit the return significantly.<br />
One to stay well clear of.<br />
http://www.primaprivateclient.com/<br />
contact.php<br />
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