A company calling itself Vanguard Trading International (or Vanguard UK Trading, or Vanguard Trading UK, or Vanguard Global Financial Intermediaries) is cold calling retail investors who have been scammed into buying carbon credits. Vanguard claims to be able to sell the carbon credits. Of course, there’s an advanced fee to be paid. And, of course, Vanguard is running a recovery room scam.
In September 2015, “Andy C” left a comment on REDD-Monitor saying that Vanguard had phoned him offering to sell his carbon credits for £13.30. All he had to do was pay an advanced fee of 10% for “corporate rediversion”.
A few days later, “Scammed” left a comment. Alan Richards at Vanguard UK Trading had phoned “Scammed” claiming that his company could “liquidate” his carbon credts using a platform in Madagascar.
This week, three more comments arrived about Vanguard.
If you have the misfortune to be contacted by Vanguard, here’s a list of red flags telling you not to hand over any money and to report the company to Action Fraud (0300 123 2040):
Vanguard cold called you – no legitimate company would do that. The only way that they could know your contact details (and the fact that you have been scammed into buying carbon credits) is because they found your name is on a “sucker list”.
Vangaurd claims to be able to sell your carbon credits. The reality is that your carbon credits are worthless. Here’s how a commodities and financial market professional with 10 years experience in carbon markets put it in a Guest Post on REDD-Monitor:
“In my professional opinion the credits sold to private individuals in the boiler room cases I have reviewed are worthless, I am not aware of a single individual in my 10 year career within the carbon markets that has sold on, for any economic worth, the VERs purchased from ‘boiler rooms’ as investments. Furthermore given the nature and mechanics of VER market I am unfortunately confident that any future outlook for these VERs will be negative and as such and paradoxically they become even more worthless as time moves on.”
Back in October 2015, Vanguard had two websites: vangaurdtradingltd.com and vanguardtradingltd.com. The first was registered in August 2015, the second in September 2015. Both sites were registered anonymously. These two websites have now disappeared.
In October 2015, a third website, www.vanguardcapitalinternational.com, was registered (also anonymously).
The various websites provide no information about who is behind the company, or any details about registering at Companies House. As “Lu” pointed out in a comment on REDD-Monitor, Vanguard copied its “Vanguard in a few words” page from UBS. (There’s a clue in the url: www.vanguardcapitalinternational.com/ubs-in-a-few-words.)
And here’s a little spot the difference game:
Vanguard’s websites give a phone number: 0207 859 4641. The website Who Called Me? has a series of complaints from people who have been called from this number:
Vanguard has also been writing to people who have been scammed into wine investments. Jim Budd has posted a letter on his blog investdrinks, from John Gough, Head of Sales, London City Bond (a warehousing company). The letter claims that “Vanguard Trading UK have been instruced as our appointed contractor as a final attempt to remove your wines from our storage facility” and asks people to “contact Ms Julie Jones of whom [sic] is dealing with your case at Vanguard Trading UK”.
Budd posts a response from London City Bond: “This letter is not from LCB and we would like to remind you that we would never approach our customers to offer such a service.”
I keep getting calls from http://www.twelve-by-seventy-five.com
I bought wine from Bordeaux Fine Wines a few years back and was conned now I’m in fear of being conned again by these folk. They sound a little inexperienced! What would your advice be?
@Martin (#1) – Twelve-By-Seventy-Five cold called you. That’s a really bad sign (see this comment for more).
There’s a discussion about Twelve-By-Seventy-Five on the investdrinks blog:
Twelve-By-Seventy-Five Ltd: not for me thanks!
I’ve been a victim too vanguard told me they would sell my wine investment cost me £4,449 with no return or sale now I know 4 months of hassle and no joy I still have my wine at least
If any of these bastards get caught these are the names I have Micheal Henderson,George Anderson and Richard Spence obviously all false hope they do and go to court that’s one court appearance definateley Goin to I’ve lost a bit but some of these stories someone’s life savings it’s disgraceful hope they get caught
@Stephen Richard (#4) – I’m sorry to hear about this. Please report all this to Action Fraud.
Thanx Chris Lang filled a report ,Insolvencey gov uk have been in touch on Friday hoping theve caught them
My mother has been constantly hassled by these scammers. They just will not leave her alone. What can I do? I have got in touch with Action Fraud but what can they do? she lost money with Bordeaux Fine wines and now this scummy lot are on to her! I will be getting her to change her number.
Twelve by seventy five ltd have ripped off my mother and I am looking into them. I have contacted action fraud too as they have sent letters saying they have moved out of there London address. They haven’t transferred wines to her account and am worried she has lost her money. They are Possibly avoiding her as we called there number and no answer. I do hope nobody else has been duped by these scamming scum?
Chris Lang – I think let’s just look at the history…Also thanks for posting that article …..
They started off on the wrong foot – they copied their name off a funny and popular (sometimes silly) wine blog called 12×75….
This then led to them telling their customers that they were the owners of the blog?>
Then look at the number of complaints they’ve had – cold call after cold call, they have been relentless – and it seems not hammering smart investors, people who can afford to take risks – but older people who are pressured and hounded into buying….
Not one of their clients could have possibly exited at a profit…I’m with BBR and since 2011 we’ve all been suffering….
It also seems from the comments above that they are not even delivering wine – that is really worrying….
I think what has most upset me on all of this (previous victim of wine fraud) – is that an exchange as prestigious as Liv-Ex has allowed this company to be a member….Further questioning whether Liv-ex even bother vetting their members and just turn a blind eye …..
Looks like we are not the only ones…Clearly this company are targeting a LOT of people
http://whocallsme.com/Phone-Number.aspx/02073522773#p1025913337980596592
Actually the Liv-ex is a trading platform with some stringent rules. The whole point is that all members big or small are treated the same way. However, they have some very strict rules – and fire members for breaking their rules….Their rules include things like a minimum standard to stock accepted and a set in stone timeframe in which to transfer….
So, are Liv-ex stupid for taking these idiots on, NO! Will Liv-ex end up getting rid of them – probably not…
If I were to guess, the fraud squad will shut them down, hopefully arrest and charge the 2 Directors – and then like always, their staff will steal their mailing list – and do the same thing all over again under another company name…..
When talking about this story with my brother – he did ask how the Muslim Council of Britain would feel knowing that one of their congregation (SULTAN RASHID) is selling alcohol….
(given we couldn’t agree – we’ve decided to ask them)
First off personal attacks on directors are pointless and unfounded. They haven’t actually been accused of stealing anyone’s money and cold calling sadly is their marketing technique of choice. Not just them but for loads of shops. Ppi people, the Aa, Vodafone etc the list is endless.
The fact that they copied their name off a stupid blog is irrelevant. The fact they have moved office is irrelevant. In my opinion as long as people’s wine is safe that’s all that matters.
This should also be a wake up call for people who do not do their own research into the market they invest in. All investors should check out the firm and the market. Not too much trouble to do that now is it?
If you have issue with this company vanguard or anyone, I suggest the best course of action is to start a dialogue with the company via email and only then escalate it to the police or lawyers etc…. By all means after that feel free to vent on blogs. But all companies deserve some right to respond to clients privately versus over blog comments ……
Thank you.
For 3 months I have been calling
Them each and they don’t ans I know I have been Scamed.
I’ve had calls from them too. I always check on https://www.tellows.co.uk if the number is already known and rated. Someone in my family has been scammed a few years a go and lost a 4 digit investment. I’m very suspicious since then.
what can U say on https://trade.van-guard.eu/ ???
Are those legit or scam???
I have an advisor there how arranged a $10K loan there and made me > then 30K on my account. But I cant return the loan from account – only by my direct deposit (through bitcoin, to avoid tax problems (?!).
Being unaverred on such procedures – it looks suspicious.
So is it OK or scam?
@Victor – I had a quick look at the website. It looks like you have to fill your email address and name before accessing the site. That’s an obvious red flag:
There are no details available about who registered the website.
I have a few questions, if you don’t mind. How did Van-Guard (if that is the company’s name) contact you? Did Van-Guard give you a US$10,000 loan, or did you loan them the money? How did this increase to US$30,000 on “your account”? Where and when was Van-Guard incorporated? Is Van-Guard registered with the FCA (if the company is incorporated or operating in the UK)? Who are the company directors?
The fact that Van-Guard insists on paying in BitCoin sounds suspicious (obviously).
The company’s name (if it is Van-Guard) sounds like it could be a clone of Vanguard, which is a US investment advisor, with US$7 trillion in assets under management.