We can report that Silverpoint are receiving rulings against them, almost on a daily basis, hardly surprising as there are 1000´s of clients who were sadly duped into buying into their investment plans! The latest promotion is the Company Participation Schemes where the clients are told they are buying into a registered company.
The Company name is actually the apartment number along with the name of the resort, so Palm Beach Club, Beverly Hills Club, Beverly Hills Heights and ultimately the Hollywood Mirage Club, providing they have convinced enough of the owners to unwittingly give up their ownerships for nothing by making the standards below par or the maintenance unaffordable.
Unfortunately, so many of the clients are only too glad to get out from the revolving door of constant high pressure sales tactics to buy into yet another scheme that only serves to line the pockets of the people at the top and definitely not the clients; as those who did ´invest´ find that the goal posts for their ´rental monies´ have been moved again. Clients who are unhappy with their investments should contact Diana Aitchison, former Chief Operating Officer at Silverpoint who resumed a post with Silverpoint last year to assist in the running of the Company Participations.
The rumour is that Edwin Coe have allegedly had a massive win with 166 clients winning against Barclays Partner Finance for the loans they were ‘sold’ when making their investments and then there is also the Financial Conduct Authority who are considering overturning their validation of the illegal loans with Barclays Partner Finance and Azure Services Ltd in Malta between 1st April 2016 to 26th April 2018, as they have been found under British Law, to have been operating without authorisation as a financial broker. This has the potential to cost BPF a minimum of £47 million.
On a regular basis different legal companies are reporting wins against Silverpoint/Resort Properties who the courts have also found to be one and the same, despite the best efforts of the CEO of both, which was Mark Cushway. The question is, how is Silverpoint managing to refund these clients or is it simply that they are not?
In the time up to the ‘closure’, when most of his sales team moved to Aspiranko, at Mark Cushway´s suggestion, although this of course is emphatically denied by him, as he does not wish to tarnish the new company with his bad reputation and all his bad publicity which he claims is the fault of other companies and absolutely nothing to do with his bad practices. Prior to the ‘closure’ of Silverpoint (formerly Resort Properties, more makeovers than Madonna), Mark Cushway allegedly managed to cleverly redistribute all of his and the companies assets and have himself removed from the board of directors for most of his interests, no doubt to limit the amount of financial damage caused by the losses at court. The courts have now embargoed Silverpoint accounts, but in this case, the horse has probably already bolted, along with the rucksacks full of loot.
All of this skullduggery was carried out before the move to Aspiranko, mainly to avoid any payouts including those of the remaining staff, claiming he was having to close for ‘economic’ reasons and therefore reduce his liabilities to everyone, staff included.
However, despite the multiple rulings against him by the courts, Mark Cushway amazingly stays ahead of the law and continues to drive around in his Aston Martin, pulling up in the drive of his multi-million-euro house and admiring his kitchen which allegedly cost in excess of €80000. No one expects him to care about those poor people getting their refunds, some of which lost their homes trying to fund his schemes in the vain hope of getting some return on their investments, however possibly his only worry is how to pay for his glass staircase. Or is it the glass bridge he´s building to make a sharp exit to the Maldives!