ScamVictimsUnited.com

There is strength in numbers.

Scams in Today's News:


Bookmark and Share
It is currently Tue Jul 16, 2019 11:23 am



All times are UTC - 6 hours [ DST ]




Post new topic Reply to topic  [ 77 posts ]  Go to page Previous  1, 2, 3, 4, 5, 6  Next
Author Message
 Post subject: Pennicott Update??
PostPosted: Sun Aug 05, 2007 6:10 am 
Offline

Joined: Sun Jun 10, 2007 7:21 am
Posts: 1
Location: Australia
Hi,
Does anyone have an update on the Pennicott extradition proceedings? Can anyone advise me a Canadian website that contains details (Case No., Court of jurisdiction) about the legal proceedings against Pennicott?
Thanks
Iratus

_________________
There are countless horrible things happening all over the country, and horrible people prospering, but we must never allow them to disturb our equanimity or deflect us from our sacred duty to sabotage and annoy them whenever possible. (A A Waugh)


Top
 Profile  
 
 Post subject:
PostPosted: Wed Aug 29, 2007 9:03 pm 
Offline

Joined: Mon Aug 27, 2007 8:56 pm
Posts: 2
To whom it may concern, I have Gabriel Pennicott's address for you people.

320 Oceanview Rd.
Lions Bay, Vancouver,
British Columbia,
Canada


Do what you wish with the information.


Top
 Profile  
 
 Post subject:
PostPosted: Wed Aug 29, 2007 9:09 pm 
Offline

Joined: Mon Aug 27, 2007 8:56 pm
Posts: 2
The guy deserves justice and I hope that he will be deported by the Canadian judicial system. We'll see, i guess.


Top
 Profile  
 
 Post subject: Hey any1!!
PostPosted: Mon Oct 22, 2007 1:18 am 
Offline

Joined: Sun Oct 21, 2007 8:45 pm
Posts: 13
Location: Auckland
Was the song written & sung by Midnight Oil,"B :lol: "Blue Sky Mining', from AUSTRALIA,where penningcott or watever his name is, got his business name from? Perhaps?? Any 1 know??

_________________
HJW2007


Top
 Profile  
 
 Post subject:
PostPosted: Wed Nov 28, 2007 6:06 pm 
Offline

Joined: Wed Nov 28, 2007 6:02 pm
Posts: 1
I appologize to Jeremy... I thought you were one of the ignorant people posting lies about Gab and Cyndi... I am sorry for accusing you!


Last edited by thetruth on Mon Dec 10, 2007 8:44 pm, edited 1 time in total.

Top
 Profile  
 
 Post subject: Be sure to get your facts straight...
PostPosted: Mon Dec 10, 2007 12:06 am 
Offline

Joined: Mon Dec 10, 2007 12:00 am
Posts: 2
Seems alot of personal anger is vented towards some business gone bad...
Be sure to get the facts straight...




ps.... Elvis ... use a spell checker if you are going to insult someone.


Cheers!

_________________
jer


Last edited by jer on Tue Dec 11, 2007 7:32 pm, edited 2 times in total.

Top
 Profile  
 
 Post subject:
PostPosted: Tue Dec 11, 2007 7:20 pm 
Offline

Joined: Sat May 12, 2007 12:59 am
Posts: 3
There are no ignorant postings except for anyone thinking these are lies, they are the ignorant ones. The ignorant ones - head in the sand people are captured in 'Jer's' and 'thetruth' comments above. 'Jer' and 'thetruth', you can't hide from the Australian's Government 47 corporate related charges against Pennicott before the courts in BC, (Duh 'Jer' and 'thetruth' doesn't need nuch intelligence to understand this) nor the fact that court documents detail the alleged domestic violence of his ex wife in relation to the intervention orders against him as detailed in The Australian newspaper on April 23rd 2007.

Not 1, not 2, not 3, not 4, but "47" corporate related charges against him, that is where the truth is or at least the start of it. There is more!

If he has nothing to hide why dosen't he come back and face his accusers, why, because he will end up in Jail where he belongs and he knows it. Thats why he ran in the first place. They are putting people like him away for a long time these days.

Merry Xmas & Have a nice day


Top
 Profile  
 
 Post subject:
PostPosted: Wed Dec 12, 2007 1:25 am 
Offline

Joined: Sat May 12, 2007 12:59 am
Posts: 3
He's not giving you the sob story is he Jer.

Oh dear, gullible as well.

Don't need a spell checker to get the messsage across.


Top
 Profile  
 
 Post subject: He is answering to the charges....
PostPosted: Wed Dec 12, 2007 1:51 am 
Offline

Joined: Mon Dec 10, 2007 12:00 am
Posts: 2
Let the courts do their work...

_________________
jer


Last edited by jer on Wed Dec 12, 2007 11:38 am, edited 1 time in total.

Top
 Profile  
 
 Post subject:
PostPosted: Wed Dec 12, 2007 7:54 am 
Offline
Moderator

Joined: Mon Apr 25, 2005 8:10 am
Posts: 583
This thread is for dicussing scams only, not for personal attacks. Please refrain from this action or this thread will be locked and members involved will be banned.


Top
 Profile  
 
 Post subject: Pennicott Returns to Australia - Christmas time 2007
PostPosted: Sun Dec 23, 2007 1:04 am 
Offline

Joined: Sun Dec 23, 2007 12:42 am
Posts: 19
Gabrial Pennicott, having been arrested in 2007 near Vancouver, Canada by the Royal Canadian Mounted Police on 47 charges laid by the Australian Securities & Investment Commission relating to Pennicott's theft of millions of dollars from Australian investors, primarily in Melbourne, and Queensland, should know that Pennicott has returned to Australia together with his new wife Cynthia, and children in late December 2007 (private investigator).

This is no doubt to avoid the extradition trial (or 4th court appearance) which was scheduled in Canada for 22 January 2008.

4 arrest warrants have since been served in Australia on Pennicott.

Pennicott in due course will face trial.

This may be some comfort to people like retired school teacher Frances McMenomy, who, having invested her approximate $300,000 life savings, in Pennicott's "Capital Guaranteed" investments, ended up loosing her home, her investment property, and her car (purchased via a Pennicott vehicle Financing scam).

To the dozens, if not hundreds of victims, including those seperately ripped off in Pennicott's Rapid Mobile Phone Charger (RMPC) scam, enjoy a drink this Christmas. It is only a matter of time, and Pennicott will be going to prison for some years.

_________________
Blue Sky Watcher


Top
 Profile  
 
 Post subject: Brief Introduction to Scams - Information for the Naive
PostPosted: Sun Dec 23, 2007 1:13 am 
Offline

Joined: Sun Dec 23, 2007 12:42 am
Posts: 19
Brief Introduction to Scams

This document is designed to introduce you to the main scams that occurred. It contains no history or background.

Main Companies – Urban Investment Services Pty Ltd
- IBP Capital Pty Ltd, (later named Sunset Capital Pty Ltd)

Shareholders: Gabrial Neil Pennicott
Jan Li (Jane Lee, Jane Li, Jun Li, etc)

Directors: listed, or “de-facto”: Gabrial Neil Pennicott
Garry Lloyd Gosling
Jan Li

Seminar scam

After attending free Urban introductory seminars starting in late 2001, early 2002, prospective clients were invited to become private members of Urban’s “Exclusive Investor Club,” and then paid up to $895 to attend further “member only” seminars where Pennicott and various Urban “guest speakers” presented on such topics as setting up self-managed super funds, property development financing, use of deposit bonds, local and “offshore” company structures, how to “Become a Debt Free Property Investor”, etc.

Lots of promotional and product literature was given out encouraging clients to purchase off- the –plan properties, and “invest” in proposed property developments, etc. Urban said it was a “one stop shop” for all investment needs. Clients who signed up for any of Urban’s property “investment opportunities” paid a minimum $3,300 “Property Registration fee”. Much of the information provided to clients was actually public domain from the internet – e.g. Australian taxation information, or was of dubious legality e.g. obtaining “degrees” from offshore “Universities”. The seminars were really about getting clients to set up structures allowing Pennicott & Li to get their hands on clients’ equity or superannuation funds, which later disappeared.

Domain on Chapel Trust Fund scam

One of the main scams. As a means of funding a proposed 3- storey, 28-unit residential development at Cowes, Phillip Island, Victoria, clients were given a supposed “ASIC Policy” approved “Product Disclosure Statement” (PDS) and encouraged to form and become members of one of 20 proposed “Sophisticated Investor” syndicates.

The idea was for clients to pool their funds, (generally borrowed from their own equity) into one of the syndicates, each of which was to raise and then loan the sum of $500,000 to IBP Capital to fund construction of the units. A total of $10 million was to be raised, supposedly to be held in a solicitor’s “trust account”, on which a 14% return would be paid to investors, monthly in arrears. This process was to be managed by directors Pennicott and Gosling.
Clients say they were assured, and the PDS states, that their funds were to be “Capital Secured” by a “Promissory Note,” issued by an “international securities provider”, and states a number of times that the 14% interest return to clients is “Guaranteed”.

Clients, however, say, that they received interest payments only for a few months before they stopped; customer service staff ran interference and Pennicott, Li, and to some extent Gosling, became scarce, un-contactable, or gave out excuses.
The so -called Promissory Notes were actually worthless and issued by Pennicott & Li’s company: IBP Capital, or by another of their companies: “Lloyds London International Securities”.
Clients who phoned international directory services to locate “Lloyds London’s” supposed international offices in Hong Kong, Singapore, Tokyo, Paris, etc, discovered they didn’t exist.

Other clients’ loaned money directly into a similar 10% return “interim fund” designed to give investors some return while the main syndicates were being formed and documents finalized. The same thing occurred. Clients received interest payments only for a few months, then they stopped; the money went missing, and Pennicott, Li and Gosling were more or less uncontactable or gave out excuses.

The funds never went near a solicitor’s trust account. The money was reportedly withdrawn in $50,000 cash lots, and then made its way overseas to bank accounts set up in off shore tax haven jurisdictions, to which Pennicott and Li have in some cases reportedly attached international ATM debit cards for their personal use.

The Domain on Chapel apartments were never built.

Share Offer Scam

When the interest payments to clients in the Domain on Chapel Property Syndicates stopped, clients were pressured by Pennicott and Li to transfer their interest in the supposed Domain on Chapel “trust fund” loans (both 10% and 14%), into shares in an unlisted West Australian company - Barclay Wells Ltd, at a rate of 70 cents a share. This was to be in lieu of receiving their invested loan funds back due to a “writ” raised in the Supreme Court by an upset client – Geoff Everett.

What clients weren’t told was that the unlisted shares were “non preference”? shares, and realistically worth less than 5c a share, with no secondary market available, e.g., the Stock Exchange. According to one previous senior member of the company, the shares actually appeared to be Pennicott and Li’s personal property since Li & Pennicott held shares in Dingo Capital, the name of the company before was changed to Barclay Wells.

A number of clients say that Pennicott and Li said to them that they had been issued “Securities Dealer’s Licenses” by Barclay Wells and could now offer “investment banking” services as part of their services – for a fee of course.
It is reported that Pennicott & Li later ripped off the main Barclay Well’s Director’s daughter to the tune of $50,000 and he then engaged a Melbourne Solicitor to try to recover the funds.

2nd mortgage Finance Scam

Despite clients filling out comprehensive Urban “Personal Financial Audit” forms, demonstrating they did not have the necessary income, clients were nevertheless encouraged to purchase off-the -plan investment properties, for example, at Bundoora, Melbourne, on specific terms. These terms included that the properties would be “positively geared'', with no deposit required, rental return guaranteed, tenancy provision services, 14.50% future capital growth with 10% growth before settlement, 10% built in equity at settlement, free legal fees, etc., with a 90% first mortgage and 10% second mortgage to be arranged for them.

A few months later, Pennicott scrapped all of these terms, supposedly compensating clients by dropping the purchase price by approximately $60,000 and then arranged 75% first mortgages for them, which finance applications must have contained falsified documentation.
On settlement day, without client’s consent, Pennicott supposedly put in his own money to settle the properties in lieu of second mortgage funds, and e.g. 11 days after settlement, provided dubious second mortgage documentation to clients heavily loaded with additional fees and charges.

Clients say that certain contract signature pages appear to have been swapped later, and that their mortgage turned out not to be with IBP Capital Pty Ltd as detailed on their banks “direct debit” form and the original second mortgage documents supplied to them, but in actuality was set up with another of Pennicott and Li’s covert company’s based in the off shore tax haven British Virgin Islands - IBP Venture Capital Reserve Limited.

Despite getting in tenants, the clients supposed “positively geared” properties turned out to be “negatively geared” by nearly $300 a week, and they could not meet their repayments. In fact, the properties transferred from the original vendor, to Urban, and then on to the clients on settlement day, with Urban adding approximately an additional $100,000 to the original vendors sale price, even after the supposed $60,000 price reduction to the clients.

It is also questionable as to whether any second mortgage money was ever paid by IBP Venture Capital Reserve Limited to Urban. It appears to be just a paper transaction, but then, a lot of the paperwork is missing, and has never been supplied to clients despite repeated requests, while a lot went missing during the supposed “burglary” of Urban and IBP’s offices, which some ex -staff are convinced was arranged by Pennicott & Li. IBP Venture Capital Reserve Limited, hiding behind lawyers is currently still suing one young couple, for approx $125, 000, but the main lawyer is known to be taking instructions from Pennicott & Li.

The Bridging Finance Scam

Clients, even staff, with significant equity, were approached by Pennicott and Li and encouraged to loan their equity to IBP Capital which supposedly, would then loan it out at high interest to developers requiring short term “bridging” finance, when for instance there were delays in getting their finance approved, or drawn down, etc.

Clients were promised that their funds would be secured by “first mortgages” over the property developments concerned. In actuality, the funds appear to have been used to maintain personal cash-flow for Pennicott and Li, company cash flow for a number of related companies, or for whatever else Pennicott & Li wanted to use the money for.

One ex staff member who made independent inquiries about his loaned funds discovered for example, that the property which supposedly secured his loaned funds, over which there was to have been a “first mortgage”, had in fact “settled” weeks before the funds were supposedly loaned to its developer as “bridging” finance. The staff member then had significant difficulty and delays in getting their funds returned.

Wine investment Scam

At one seminar, clients were given thick bound promotional and educational material and encouraged to join the “Urban Wine Club”, and purchase cases of supposedly exclusive specialist “Anne’s Mirador” red wine for $600 a case, as an investment “commodity”; The wine supposedly being in the same class as Grange Hermitage, etc. Clients later received a letter telling them sales had been achieved of $1,200 a case. One letter to client’s states: “In excess of 85 % of the attendees…participated in this opportunity of a 235% return on investment.”

Clients were issued “Certificates of Ownership”; encouraged to store their wine in “Authentic Hand Crafted Wooden Cases” in humidity controlled conditions to be arranged. Suspicious clients later discovered that the owner of the winery – Keith Jacobs, was in fact, a neighbor of Pennicott's, whose interest in wine was only as a hobby, and some of the extended Pennicott family, in good faith, had been involved in its manufacture, and labeling.

One client took a bottle of Anne’s Mirador to an independent wine auctioneer who provided a letter stating: “Due to the poor quality of the wine, and market resistance toward the product, the auction estimate, would only be between $4 – 9 per bottle. Sorry for the bad news.”

_________________
Blue Sky Watcher


Top
 Profile  
 
 Post subject: Gabrial Pennicott
PostPosted: Tue Dec 25, 2007 3:37 am 
Offline

Joined: Tue Dec 25, 2007 3:11 am
Posts: 2
I have known Gabrial Pennicott for more than 20 years. You people sit around jerking each others chains with the slightest piece of miss information you can find to make each other feel better. You try to make everything sound legite by putting the word "Private Investigator" beside it.

I am not saying that Gabrial has not been invovlved in anything, but the witch hunt you people are enjoying is really a stain on each of your characters.

Each of you hide behind fake names like was said earlier, none of you have the guts, excpet one, to stand up and show your face. Gabrial has told me not to write anything here as he already knows your identities by the way you write. He mentioned the names Robyn, Debra, Hagen just to name a few. I can't remember the others.

You will find it interesting Anja, just how wrong you are about your summation on Gabrial's activities. Clearly he did nothing wrong in those business dealing because Gabrial told me that he is not facing any charges relating to the matters you have posted.

As for his ex-wife Elaine and her little "spat" of verbal diarrhea and lies in the Herald Sun yesterday. Her family have known for months that Gabrial was returning. Gabrial had arranged a visit with his twin daughters because he had not seen them in more than 2 years. Imagine having a backstabbing friend like Elaine Macleod in your circle. She will say anything to play her sympathy card. Gabrial comes home and wants to see his children. Makes a bee line to Dimboola to see his kids after getting Bail, and ends up in the newspaper with a whole heap of lies printed by an unrealiable, lying alcoholic!


Gabrial is back in Australia and he told me months ago he was going to come back and deal with these charges. He told me he worked with the authorities in Canada and Australia to arrange his return and so his family could resettle in Australia properly. He told me it took him nearly six months to arrange everything. Gabrial has God on his side and he has told me of the miricale that God has provided for him already.

Good on you Gabrial for being so strong of character and faith to come back and face these charges and deal with them head on. I for one am very proud of you this could not have been and easy decision. I am sure you will eventually silence all of your critics and rise above them all again.


God Bless

Pete


Top
 Profile  
 
 Post subject:
PostPosted: Thu Dec 27, 2007 3:18 am 
Offline

Joined: Sun Dec 23, 2007 12:42 am
Posts: 19
Hello Pete.
I agree that the Herald Sun article was not accurate on a few points. This is consistent with previous articles by this particular newspaper which also contain errors.

Your point that charges have not been laid specifically relating to all of Pennicott's fraud and crimes detailed in the recent posted Summary of Facts is in a sense correct. That is because the Australian & Securities & Investments Commission (ASIC) is required to prosecute fraudsters within the corporations law legislative framework, however that charges have also been laid under the Crimes act & Criminal code.

Civil legal action has been taken by at least 3 groups or individuals to my knowledge, and much is still to come.

The following article from scoop.co.nz should assist you in understanding the facts a little better.

Press Release – 25 December 2007, by Law Fuel at http://www.scoop.co.nz

Businessman In Melbourne Court On ASIC Charges Following Extradition From Canada

Mr Gabrial Neil Pennicott, formerly of Melbourne, Victoria, appeared in the Melbourne Magistrates Court on 21 December 2007 on charges brought by the Australian Securities and Investments Commission (ASIC) following his extradition from British Columbia, Canada.
Mr Pennicott has been charged with a total of 47 charges under the Corporations Act, Commonwealth Criminal Code and Victorian Crimes Act. A summary of the charges follow:
* thirteen charges of inducing a person to deal in a financial product by making or publishing a statement, promise or forecast if the person knows or is reckless as to whether, the statement is misleading, false or deceptive contrary to section 1041F of the Corporations Act;
* eleven charges of attempting to induce a person to deal in a financial product by making or publishing a statement, promise or forecast if the person knows or is reckless as to whether, the statement is misleading, false or deceptive contrary to section 11.1 of the Criminal Code and section 1041F of the Corporations Act; and
* six charges of dishonestly using his position as a director, other officer or employee of a corporation contrary to section 184(2) of the Corporations Act;
* four charges of dishonestly obtaining property by deception contrary to section 81 of the Crimes Act;
* six charges of dishonestly obtaining a financial advantage by deception contrary to section 82(1) of the Crimes Act; and
* seven charges of attempting to dishonestly obtain a financial advantage by deception contrary to section 321M of the Crimes Act and section 82(1) of the Crimes Act.
The charges relate to allegations that Mr Pennicott:
* transferred shares owned by companies he controlled between these companies at artificially inflated prices so as to change the balances of the inter-company loan accounts between the companies. ASIC alleges no money was paid for the shares and the consideration for the shares were recorded by adjusting book entries in the inter-company loan accounts. The value of these transactions was $2,465,000;
* transferred and attempted to transfer shares at artificially inflated prices to repay and attempt to repay amounts owed to investors in a company he controlled in lieu of repaying the monies owed. The monetary value of these transactions was $1,238,456.79;
* transferred shares at artificially inflated prices to himself and one other person in lieu of being repaid amounts owed to them. ASIC alleges Mr Pennicott and the other person then transferred the shares to another company controlled by Mr Pennicott, which paid money for the shares to Mr Pennicott and the other person. The monetary value of these transactions was $125,000; and
* induced investors to acquire shares which were artificially inflated in price. The monetary value of these transactions was $200,000.
Mr Pennicott has been granted bail on conditions, including:
* a surety of $300,000;
* that he report three days a week to Surfers Paradise Police Station;
* that he surrender his passport; and
* that he not have any involvement, whether for remuneration or not, in the promotion of any company, security, derivative or investment opportunity.
A committal mention date was set for 17 March 2008 in the Melbourne Magistrates Court. The Commonwealth Director of Public Prosecutions is prosecuting the matter.
Background
On 26 April 2007, Mr Pennicott was arrested in British Columbia, Canada, following a request by the Australian Government to Canadian authorities to issue a provisional arrest warrant. On 7 December 2007, Mr Pennicott consented to being extradited to Australia before the British Columbia Supreme Court and was placed into custody pending his extradition to Australia.

As I said, Gabrial Pennicott will be going to prison - for a long time.

Happy New Year,

Anja

_________________
Blue Sky Watcher


Top
 Profile  
 
 Post subject: Re: Gabrial Pennicott
PostPosted: Sun Jan 06, 2008 9:57 pm 
Offline

Joined: Sun Jan 06, 2008 9:37 pm
Posts: 1
petelarson wrote:
I have known Gabrial Pennicott for more than 20 years. You people sit around jerking each others chains with the slightest piece of miss information you can find to make each other feel better. You try to make everything sound legite by putting the word "Private Investigator" beside it.

I am not saying that Gabrial has not been invovlved in anything, but the witch hunt you people are enjoying is really a stain on each of your characters.

Each of you hide behind fake names like was said earlier, none of you have the guts, excpet one, to stand up and show your face. Gabrial has told me not to write anything here as he already knows your identities by the way you write. He mentioned the names Robyn, Debra, Hagen just to name a few. I can't remember the others.

You will find it interesting Anja, just how wrong you are about your summation on Gabrial's activities. Clearly he did nothing wrong in those business dealing because Gabrial told me that he is not facing any charges relating to the matters you have posted.

As for his ex-wife Elaine and her little "spat" of verbal diarrhea and lies in the Herald Sun yesterday. Her family have known for months that Gabrial was returning. Gabrial had arranged a visit with his twin daughters because he had not seen them in more than 2 years. Imagine having a backstabbing friend like Elaine Macleod in your circle. She will say anything to play her sympathy card. Gabrial comes home and wants to see his children. Makes a bee line to Dimboola to see his kids after getting Bail, and ends up in the newspaper with a whole heap of lies printed by an unrealiable, lying alcoholic!


Gabrial is back in Australia and he told me months ago he was going to come back and deal with these charges. He told me he worked with the authorities in Canada and Australia to arrange his return and so his family could resettle in Australia properly. He told me it took him nearly six months to arrange everything. Gabrial has God on his side and he has told me of the miricale that God has provided for him already.

Good on you Gabrial for being so strong of character and faith to come back and face these charges and deal with them head on. I for one am very proud of you this could not have been and easy decision. I am sure you will eventually silence all of your critics and rise above them all again.


God Bless

Pete



I've been keeping track of this thread on Mr Pennicott for a while. This posting really does deserve a response.

Pete, you are foolish. The veiled threat of your third paragraph and the possible defamatory nature of your comments about Elaine are poor form. I hope Elaine has good lawyers as the defamation laws in Australia are very "old fashioned".

I had dealings with Mr Pennicott when he first arrived back in Australia, possibly from business dealings in Germany (I have not hidden my identity - Mr Pennicott will, possibly, remember me). The charges levelled against him, needless to say, are not a surprise.

I only met Elaine twice, both times very briefly. Pete, put yourself in her place - rationally - I think she deserves sympathy.

Now I have had my say, can this dicussion be kept to the business side of Mr Pennicott's dealings and all mention of family be excluded? It would be the gentlemanly thing to do.


Top
 Profile  
 
Display posts from previous:  Sort by  
Post new topic Reply to topic  [ 77 posts ]  Go to page Previous  1, 2, 3, 4, 5, 6  Next



All times are UTC - 6 hours [ DST ]


Who is online

Users browsing this forum: No registered users and 1 guest


You cannot post new topics in this forum
You cannot reply to topics in this forum
You cannot edit your posts in this forum
You cannot delete your posts in this forum
You cannot post attachments in this forum

Search for:
Jump to:  
Untitled document

 cron

Disclaimers, Message Board Guidelines and Privacy Policy   

Powered by phpBB® Forum Software © phpBB Group