Foxstone Carr Limited, a London company which markets carbon credits and precious metals to the public as investment opportunities, has been wound up in the High Court on grounds of public interest, for making misleading statements to attract potential customers. The court order follows an investigation by The Insolvency Service.
Foxstone Carr Limited was initially based at the former trading address of Tullett Brown Limited (see note 7), which was itself wound up in June 2012, for similarly mis-selling investment opportunities to the public.
More recently, Foxstone Carr Limited was based at 2nd Floor, 63 Curzon Street, Mayfair, London, W1J 8PD. Its website ( www.foxstonecarr.co.uk ) was registered to Tullett Brown Limited.
In addition, the company employed sales staff who previously worked for Tullett Brown Limited, who used the same cold-calling methods and raised over 400,000 from customers through the sale of carbon credits at a mark up of up to 245 per cent.
The company claimed the market in carbon credits had grown by nearly 60 per cent in the past year and that the investment opportunity was a no brainer with guaranteed returns.
Welcoming the Courts decision, Company Investigations Supervisor Chris Mayhew said:
The company fleeced the public with their bogus guarantees about investment opportunities and returns.
The only return guaranteed was back to the High Court following the winding up of Tullett Brown.
The Service is determined to do all it can to protect the public from rogue companies as this judgement shows.
I would urge people cold called not to be pressured into something you are unsure of and to simply say thanks, but no thanks to cold calling conmen promising instant riches.