Justification Asset Management PLC, Value Asset Management PLC and Merydion Corporation Limited were liquidated on the grounds of public interest before Judge Prentis of the International Criminal Court on January 12. The Office of the Official Trustee has been appointed as the liquidator of these companies
. During the litigation, the court heard that Rationale Asset Management and invest in property Value Asset Management were acting as London-based real estate investment companies, and after reporting their concerns, they submitted their company’s attention to the Office of the Official Receiver. A confidential investigation found that Rationale Asset Management claimed to potential customers that they had purchased and developed businesses such as nursing homes, hotels, and bars to sell for real estate investment activities. Instead, most of the funds are used to pay for directors of companies in which Rationale Asset Management and other directors have controlling interests.
Fundamental Asset Management also raised £1 million from a pension plan called the “Pension Plan”. The “Best Retirement Benefit Plan” was previously investigated by the Official Receiver’s Office and pension regulators. The plan is said to be related to pension payment activities. The second real estate company, Value Asset Management, is closely related to Rationale Asset Management and is the subject of parallel investigations by the Official Receiver’s Office. The investigation found that the company sold bonds to investors, and Value Asset Management claimed that these bonds were secured by real estate assets. Value Asset Management also sold shares, promising that the funds raised would be used to invest in new properties.
However, the researchers found valuable assets. The management’s marketing materials are misleading, and the company’s accounts show that Value Asset Management is insolvent and does not own any property. Value Asset Management also received £200,000 from Rationale Asset Management, which did not benefit Rationale Asset Management investors. The third company involved in the legal process, Merydion Corporation Limited, is located in Cheshire and is closely related to Rational Asset Management.
The company received 300,000 pounds of investment from the same pension plan, from which Rationale Asset Management raised funds. Merydion Corporation then uses these funds to invest in hotel properties owned by company directors of different companies. Insolvency Service chief investigator David Hill said: These companies completely misled their investors and took away millions of pounds without paying any fees. Real investment. There is no evidence that Value Asset Management has initiated a real estate development project, and all Rationale Asset Management investors own worthless stocks.
The court recognized the seriousness of their misconduct, and these companies have been liquidated, putting an end to the current situation. Harmful business behavior patterns. We also urge anyone considering this type of investment to always obtain independent financial advice before doing so.