Friday, May 6, 2016

Friday, May 06, 2016

Two British financial scammers, exposed on this website for taking down punters in the Boston Asset Management scam are at it again promoting the IXE Group which is offering a 9 per cent return to investors.

If this sounds like the LM Managed Performance Fund, where nothing was managed and nothing was performed, then it is. 

The IXE Group of company has only two employees but on its website it is running companies in Switzerland and appears to own large chunks of South America.

Its boss is the free spending Mexican Alejandro Garcia.

The two main promoters of IXE are Bryan Gauson and Keith Wotherspoon. Gauson has been banned from being a director by the Edinburgh Court of Sessions.

From one of Gauson's own website in which he describes himself as a benevolent charity giver

But Wotherspoon held a directorship of IXE Aggro for a brief period when the company was formed in 2013.

This may because his name came up on the net as a director of the company – and that would have put off investors who did any basic due diligence.

This site has had multiple requests to take down the original story published here. 

All were declined.

Reports suggest Alejando Garcia, Gauson and Wotherspoon have so far lost US$100 million of client funds already. 

Some I guess must have gone on Bryan's latest hobby - the British Carriage Driving National Championships.

The clipping from the 'Horse and Hound'

Investors are being paid interest on their capital – but if they withdraw their capital that would be quite another matter.

It seems, and this is not new, that IFAs who are being approached by Gauson and Wotherspoon to promote IXE, are not doing their due diligence.  The commissions are just too good.

We have seen it all before.

Gauson was of course a regular for the King’s Cup at the Royal Regatta in Phuket, Thailand, with his yacht Piccolo. He is now also interested in horses and carriages and boasts an article in the Horse and Hound.

Formerly Malaysia based they are both back in blighty but funding their Asian trips on this latest scam.



D. Farang said...

So if you want to avoid substantial financial aggravation, avoid IXE AGRO, and the shady, bootlicking financial advisors, who tout the scam - like the plague.

If you receive a cold-call from one of these substantial reprobates, in a lame attempt to coerce you to invest in their newest, latest aborted scheme - expose these inveterate rats to the light of day - once again.

David Martin said...

it would be pleasant to use them as anchors for their yacht

Bob Kneale said...

You provide no specific evidence, Andrew, so leaving aside for the time being past indiscretions, the scam is what? You say that investors are being paid what they were promised and the personnel mentioned are not disqualified from being directors and haven't been disqualified for 14 years. Is the scam that they have not been lilly-white in the past or are you just warning people that because of what's gone on in the past a lot of care and due diligence should be undertaken? Where are the reports that say that USD100m of client funds has been lost already, have you not got a link to them?

Loiner said...

Don't listen to any of the parasitic leech 'IFAs' in Thailand, not only the cold callers. Those still shmoozing around the expat networking events, chambers of commerce, and any any form of media, are not to be trusted. While they are making new clients, contacts, acquaintances, and even 'friends', their eye is still on the long game which is your savings providing their commissions.
The worst of it is that there is absolutely no protection for your investment. Despite their glib promises, when it all goes tits up like the LM Fund Scandal did, you're on your own. There's no recourse to recovery or compensation from anybody, least of all from the Thai SEC who regard their activities as illegal. Even if there is a Warning Notice in place, or the SEC actually take legal action against the IFA, your savings or pension has gone - lost in the fund managers' champagne lifestyles.

Anonymous said...

I never receive any cold calls from these people - probably because I do not suffer from the misfortune of choosing to live in Thailand.

Marlo Stanfield said...

Yeah because only people living in Thailand get cold-called, don't they? SMH!

Andrew Drummond said...

You're such an impatient chap aren't you Bob.

D. Farang said...

It's sometimes not that bad when you choose to live in Thailand - in two-three month doses at a time, LOL..

Having a good bolthole is often key to successful expat living in Thailand. Some expats even find themselves feeling fortunate with their lot in the LOS Lancashire lad, as opposed to feeling misfortune - which also happens frequently.

But Blanket Policing a whole group with a very wide brush isn't too helpful in general - unless you're say Donald Trump.

I'll bet you're much better than that!


r Negoro said...

Bloomberg did a section on this. Ixe group garcia is a scam, even flash trader got scammed.