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Cab Spain have received enquiries from expats who a few years back invested with Athena V11. It appears that these investors have not received any interest on their investments, shareholder Reports or quarterly portfolios or any documentation at all.
The group are being assessed by a financial advisor who has kept them updated. The person has stated that he cannot forward to the group any information about the whereabouts of their investments. Some having invested as much as 160.000 sterling. He has stated that he has signed a confidentially disclosure document therefore can not discuss where the fund may be held and any other information. This is most unusual. This advisor is said to be assisting the group to recoup their funds and yet, he purports to have documentation showing movement of the monies which he will not allow the investors to view. He is not an investor himself yet is privy to information about the groups investment that they are denied.
It appears that for a few years, this ‘helpful’ advisor has been advising that the sum invested said to be around 3.000.000 is about to be returned to the rightful owners. The funds return is constantly delayed. The group is being advised that taking legal action will prejudice the return of their monies. This is not a fact. The latest information the group are being provided with is that their money is being held in ‘bank A and bank B in Switzerland, Singapore and now London.
Some members of the group are rightly sceptical about ever seeing their investments at all, but struggle against some who are (as one must understand, clinging at straws). The fear for many is that whilst they wait on promises, the time to take legal action is passing them by.
Members have seen the information from the regulatory body in the Isle of Man relating to this fund and suggesting fraud. The information can be found on this LINK which talks about Athena V11 and SD Consultants Incorporated.
Many investors have fallen prey to fraud. We can only advise our members to be extra vigilant when investing their funds in unknown companies.
NOTE* The investors I spoke with are not 100% sure of the route of their investments. I hope for them all that their monies can be returned. This is not the usual procedure when scam investment companies are involved. There has been another company named who are not practising in Spain anymore for obvious reasons. I will not publieh the name at present due to the fact that some of the investors involved, appear not to have any idea where their funds went so may have never reached this company.
UPDATE: 27/06/2015 Apparently the group of investors have received the usual weekend post. This is much of the same as they have been receiving for months if not years. Basically that ‘the banks, who apparently have the investors funds (even though a lawyer involved has told one investor that there is no guarantee of getting their investment back) again are ‘putting the finishing touches to return the funds, just need to not confuse things by using a swift’.
UPDATE: 11/07/2015
As investors relate information to me, I could post update weekly but as each communication arrives always at weekend and is ‘much of the same’ would be quite boring and hardly believable when read. The latest weekend news for this group of investors is as stated above, all about communications between banks. Now, the banks are about to ‘push the button’ which will mean the release of funds. Some of the investors may have to take responsibility for their lack of action in this case.
