Profitable Group not delivering profits to investors

[Alamaking]

Profitable Group has now been added to the Monetary Authority of Singapore investor alert list.

Profitable Group (PG) with Liverpool legend Steve McMahon as their Commercial Director, is a global investment firm with various portfolios including properties and technology.

But yesterday, a group of 12 individuals confronted Profitable Group staff at their head office in Stanley Street regarding their investments.
And they claimed not to have received any profit returns on their investments dating back to 2006.

The police were later called in, when the individuals created a commotion by shouting from outside and within the Profitable Group's office.

Last year, Profitable Group were criticised by several fans, the FAS and the media for the manner in which the Liverpool stopover in Singapore was organised.

PG also made the news last year after their failed attempt to take over Newcastle United.

 

[shOUTloud]

Not surprised. They are now selling dunno-what-IT products now that land is fucked in Europe.

 

[Maximilian Chua-Heng]

But yesterday, a group of 12 individuals confronted Profitable Group staff at their head office in Stanley Street regarding their investments.

Those 12 persons must be Liverpool fans since the 1980s.

 

[Alamaking]

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This 1 lah, LOL No harddisk wor, then how to store data har?

 

[chobolan]

Drama as investors turn up at Profitable Group office


Shouting, then shoving
Drama as investors turn up at Profitable Group office
By Zaihan Mohamed Yusof
May 25, 2010

A group of 11 men and one woman turned up at Profitable Group's Stanley Street office in Shenton way demanding answers regarding their investments.

They spoke to Mr John Nordmann, group operations director of Profitable Group, a global investment firm, which, according to its website, has interests ranging from lubricants to property.

They claimed that the firm had not made good on its promises to them.

But the conversation outside the office soon spiralled out of control into a shouting match. There was even some pushing.

Yesterday’s confrontation had its beginnings with the group's investments with Profitable Group between 2006 and 2009.

They said the terms of their investments, which they claimed promised them a certain return after six months, had not been honoured.

The 12 people claimed that their individual investments in land and lubricants with Profitable Group totalled about $700,000.

 

[Rogue Trader]

one look at the stupid company name and can tell it's a con job.

 

[chewed]

one look at the stupid company name and can tell it's a con job.

sounds like another Pnozi scheme..??

 

[Rogue Trader]

They secured very expensive Epl advertising airtime. but they carry crap products. All sizzle no steak.

 

[Char_Azn]

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This 1 lah, LOL No harddisk wor, then how to store data har?

That's probably a thin client machine. It doesnt need to store anything locall, it works directly from the Server. Should be everything is processed and stored on the server hence no real need for huge storage space and its also way easier to manage since U only have to really deal with the server instead of hundreds of Client machines. Which is why many big companies use this model.

The tradeoff is that the server and network infrastructure has to be good. Depending on size of company the Server is going to be really expensive and if U are working over the WAN, ISP cost will kill U.

 

[zuoom]

hmm, Profitable Group. i remember seeing them dabblilng in some Profitable group secuity thingy also..

 

[poore]

at least there's a use for the lubricant now....

 

[excloc]

Its just scammy so obvious and people still believe in it. Why wouldn't MAS regulate land banking?

 

[shelltox]

so far the one profitable is the group who intiated the venture

 

[makapaaa]

Profitable Group has now been added to the Monetary Authority of Singapore investor alert list.

=> is this the BEST the BEST PAID govt in the world can do?

 

[krafty]

I had a passenger before who was doing this kind of land banking from Walton's group. We talked and exchange name cards, was tempted to invest but did not as I dun have few grands to spare,not sure if he is affected.

Profitable Group has now been added to the Monetary Authority of Singapore investor alert list.

=> is this the BEST the BEST PAID govt in the world can do?

 

[jw5]

so far the one profitable is the group who intiated the venture

Exactly.
Profitable is meant for themselves.
Just like when we were told about a swiss standard of living, they forgot to mention that it was for themselves and their families.

 

[cocobobo]

its well known that mcmahon left the group eons ago

 

[sense]

Two British bankers jailed over $3m investment scam
Published on Jun 9, 2014 6:43 PM

SINGAPORE - Two British bankers were jailed for a total of 15 years on Monday over a bonds scam in which investors lost more than $3 million.

Timothy Nicholas Goldring, 60, and John Andrew Nordman, 55, were convicted on 18 proceeded charges of cheating - involving $915,000 worth of investments - after a 64-day joint trial.

They were sentenced to seven and eight years' jail respectively. Both men plan to appeal.

Investors lost some $3.1 million in the Boron bonds scheme between November 2008 and August 2010. The two directors of land banking firm Profitable Plots promised 12.5 per cent in returns within six months.

 

[Deleted member 80916]

Questions:


1. for those holding on to the land Titles of the UK Plots,..are these titles still legally legitimate ?

2. Anyone Holding Nafferton ? Spring Grove,...plots ?

3. Who will take over the management of these UK land ?

Any chances of salvage ?

Thanks

Two British bankers jailed over $3m investment scam
Published on Jun 9, 2014 6:43 PM

SINGAPORE - Two British bankers were jailed for a total of 15 years on Monday over a bonds scam in which investors lost more than $3 million.

Timothy Nicholas Goldring, 60, and John Andrew Nordman, 55, were convicted on 18 proceeded charges of cheating - involving $915,000 worth of investments - after a 64-day joint trial.

They were sentenced to seven and eight years' jail respectively. Both men plan to appeal.

Investors lost some $3.1 million in the Boron bonds scheme between November 2008 and August 2010. The two directors of land banking firm Profitable Plots promised 12.5 per cent in returns within six months.

 

[da dick]

Questions:


1. for those holding on to the land Titles of the UK Plots,..are these titles still legally legitimate ?

2. Anyone Holding Nafferton ? Spring Grove,...plots ?

3. Who will take over the management of these UK land ?

Any chances of salvage ?

Thanks

lol. if u have so much money. dun give angmo con. give it to me. i give u discount. i will only take 100K SGD, not 3million. very cheap. i can confirm honestly with you that the diviends is 1 cup of kopi-see per month