A couple of weeks ago, REDD-Monitor wrote about a company called Sterling and Bond. The company offered “guaranteed” returns of 14% over 18 months. I described it as a “ridiculously obvious scam”.
Today I received a reply from Andrew Nash, the managing director of Sterling and Bond (posted in full, below).
Nash doesn’t provide any new information in his response. Like where his company is registered, for example.
Neither does he explain why Sterling and Bond’s Australian address is the same as that of Velvet Assets, a company that is part of the Capital Alternatives network. The two companies even share the same phone number.
Two other companies also share this phone number: Able Alternatives and Curzon Commodities. Both companies have offices in Dubai, London, Australia and Hong Kong (as does Sterling and Bond). Curzon Commodities shares the same office addresses with Sterling and Bond in Dubai, Australia and Hong Kong. But I’m sure that’s just a coincidence!
Here’s how one ex-employee of Able Alternatives describes his work for the company:
My junior brokers continually pass me qualified leads from extensive marketing campaigns and by calling perspective [sic] clients using sales scripts created by myself.
Which sounds nothing like a boiler room, does it?
From: Andrew Nash email@example.com
Date: 11 November 2014 09:58
Subject: Details/Sterling and Bond
1. You have a credible site therefor to use the words ‘suckers’ in your article is both disrespectful and derogatory.
2. You have mentioned that this is a ‘ridiculously obvious scam’. We do not have an issue answering questions about our company if you direct these to our company. To make allegations like this in a public forum is both unprofessional and malicious. Sterling and Bond has a large number of satisfied clients who continue to receive returns and capital repayments from their VOIP Tel investment. There is no indication that the VOIP Tel investment is a ‘scam’. In addition by offering to swap investor out of carbon investments is actually a loss leader for us but what it does do is allow is to take on new clients who we can service going forward. There is no upfront cost to this contrary to what you have said. There is an additional investment they need to make and there is no pressure to make this additional investment it is totally down to the client. Again by offering this swap is actually a good way of gaining new clients. It is both malicious and defamatory to suggest this is a scam on the basis of these swaps.
3. Capital Alternatives has no connection what so ever with both Sterling and Bond and VOIP Tel. Again adding this to your article is mischievous and damaging.
In summary Sterling and Bond operates a sound and respected business with a large number of satisfied clients. Your article is based on malice and misinformation and is very damaging to our business. In fact it has resulted in a tangible loss of business. This is totally unacceptable and I would ask you to kindly remove this article immediately and the malicious blogs it has attracted or we will take immediate action which may result in looking to you personally for the recovery of damages suffered as a direct result of this article.