Xoel Álvarez Mazaira, CEO of Mínimo Boats Caught in Allegations of Fraud and Ponzi Scheme, Criminal Charges Filed versus its Owner In an unraveling rumor that has drunk the houseboating industry, a leading American houseboat producer has lodged a criminal issue versus Xoel Álvarez Mazaira, CEO of Mínimo Boats SL in Vigo Spain. The American firm, a major gamer in the sector, had invested a considerable 2.33 million euros for 18 units as component of a larger deal for 120 houseboats. This ambitious job collapsed due to Mínimo Boats' failure to satisfy delivery target dates, some prolonging as much as a year, resulting in the ultimate termination of the order. The dispute deepened when it was exposed that a 1.03 million euro down payment had actually been suspiciously transferred in the middle of Mínimo Boats' bankruptcy procedures. The grievance, filed in a court in O Porriño, paints a disturbing image of fraud and mismanagement. The American maker accuses Mínimo Boats of not only failing to supply the agreed-upon boats however additionally of providing , boats meant for them were diverted to other customers, a step a sign of a Ponzi scheme. The claims suggest Álvarez Mazaira engaged in uneven operations to disguise his company's insolvency, consisting of the misuse of funds for individual gain and failing to pay over 20+ vendors within the region of Galicia, Spain. Xoel Álvarez Mazaira, CEO of Mínimo Boats SL In Vigo Spain https://lnkd.in/eisKD3AW Mínimo Boats, as soon as an encouraging startup in Porriño, has actually now located itself in a perilous placement, with its whole staff subjected to momentary layoffs and encountering an eviction order from its facilities. The American company's. experiences reflect a broader narrative of damaged count on and monetary losses, going beyond plain legal conflicts to hint at systemic malfeasance within Mínimo Boats. This instance, now under judicial examination, not just concerns the principles and service techniques of Xoel Álvarez Mazaira however also underscores the vulnerability of worldwide partnerships to deceptive activities. As the.
Paola Reniery’s Post
More Relevant Posts
-
The continuing saga of Winebuyers.com Having reported here that Begbies Traynor Group the administrators of Winebuyers Gp, were trying to close the down the website, the site is still functioning illegally as before. This whole sorry fiasco has been created by the UKs chronic insolvency set up. In 2021 in a very lame attempt to do something about the prevalence of prepacking, new 'rules' were passed. Reading them it seems it would have been more use to pass water. They have no bones, no rigour - they are essentially pointless. In the 2021 rules, it states that if a connectd party is involved in the purchase of the assets of a Co in Administration, then the Administartors are required by law to obtain a Qualifying Report. In the case of Winebuyers Gp this report was supplied by gunnercooke. It appears in Appendox 5 of the Admin Report filed at CH. It tells us that they were quite happy with the assets of Winebuyers GP being sold to Ben Revell's newco Elysian Ventures Ltd. This was considered a suitable transaction, despite the fact that by then there were national newspaper articles and huge numbers of ripped off customers and suppliers, screaming for his blood. WB MO was simple - create a glossy website promoting huge numbers of wines and spirits at commercial prices, promote it on FB and other SM. Take the cash off consumers who ordered the goods and simply not deliver the products as in most cases they had no access to them. That is illegal. And that is what Ben Revell and the current Winebuyers.com is still doing. We know this as we have spoken directly to suppliers and the reviews on Trustpilot continue to confirm the same. They dont supply WB or their customers but their products are listed on the website. It's fraud. So how can gunnercooke have sanctioned fraud? Begbies have now realised their mistake but we communicated with @guunercooke and their resposne was basically get lost. They havent done anything wrong - the new 2021 Qualifying Report is a worthless exercise in futilism. Lawyers love easy cash and this is certainly that. All parties are guilty here. HMRC should have banned Revell for lying to the Liquidators of Winebuyers V1 but they will say the Liquidators never handed over the evidence. Begbies Traynor Group should have prevented Ben Revell buying the assets of Winbuyers V2 but they can fall back on the report from @Gunnercooke. @Gunnercooke in turn couldnt give a fig - they have been paid and moved on. Meanwhile many more consumers have been ripped off and Ben Revell remains at large. Read the Begbies report on the failure of Winebuyers Gp and you might believe the Co was unlucky. The only bad luck here was having someone like Ben Revell in charge. The reasons given for the failure and parroted by the so called IP firm, are risible. Bottle shortages! Im very (and I mean rice paper thin very) close to the wine trade and this is total bollocks. My expression not my wife's!
To view or add a comment, sign in
-
£20 million fraud - fraud, false accounting and forgery! It's not too often we see those terms used in relation to someone in Financial Services. This is an astonishing series of events and shows how greed and someone in authority certainly does not mix. Liam Francis Wainwright, 61, from Leeds, had falsified documents to mislead investors and spend their money on ventures including a racehorse syndicate and his own failed private businesses. Wainwright, who had been a director of Rawdon Asset Finance Ltd, was disqualified for 11 years in November 2020 after investigators at the Insolvency Service found he had falsified around £12 million worth of entries in the company’s loan book in the two years before the company entered administration in 2019. Julie Barnes, Chief Investigator for the Insolvency Service, said: "Liam Wainwright’s greed and selfish actions had a devastating effect on the people who had put their trust in him and his business. His victims included elderly and vulnerable people. Many investors lost most or all of the money they had entrusted to him, and some lost their life savings. His sentencing today shows that the Insolvency Service will seek the toughest penalties for those who break the law, to help ensure that the UK is a safe place for investors and for businesses." The following sentences were imposed, with reductions reflecting credit for the plea: 1) False accounting - 6 years 6 months, reduced to 4 years 4 months. 2) Forgery - 2 years after trial, reduced to 16 months, concurrent. 3) Breach of Director Disqualification - 12 months after trial, reduced to 8 months, concurrent. 4) Failing to Surrender offence under Bail Act - 28 days, concurrent. 5) Fraud - 4 years after trial, reduced to 2 years 8 months, consecutive. So Wainwright can now expect 7 years imprisonment. Is it enough? I must admit I'm not sure based on the extent of his crimes! #financialservices #accounting #law #money #economiccrime #financialcrime #fraud #scams #ponzi https://lnkd.in/eSCS_VRH
To view or add a comment, sign in
-
"Fraud matters are delicate and effective crisis-management is paramount to preserve evidence and avoid tipping off potential fraudsters who might attempt to put assets beyond the reach of the putative claimant. Victims of fraud should consider the possibility of obtaining asset freezing orders and search orders – which Australian courts are willing to grant." One of our amazing speakers, Trevor Withane (卫卓恩), for February's Asset Recovery International was recently interviewed by The Legal 500 (Legalease), about his work both in Australia and abroad. Join us in February to both meet Trevor and hear his amazing insights during the 'Big fraud, ordinary victims' panel. Read the full interview here: https://lnkd.in/gyQ6J2cV Join us at Asset Recovery International: https://lnkd.in/euatQubQ #AssetRecoveryInt #AssetRecovery
To view or add a comment, sign in
-
There really should be some sort of business portal that we can all log into to report who the scammers in our industries are. The ones that take advantage, the ones that never pay, the ones that highjack your stores and lock you out! The ones you will never do business with again and you would like to warn others so they don’t have to go through the same. Just some sort of warning system to avoid the wolf in sheep’s clothing. My business has taken some pretty big hits, the biggest is currently going through litigation which costs a small fortune. All because I like to help the under dog. I have a big heart, and that opens you up to people who are not so trusting. It feels like the good guys keep getting taken advantage of because our laws are so slow, or the cost of litigation is so high with the processes so slow. It’s been a year since I was locked out of three stores that in contract I own 70% of and there has been no accountability. Not only that but these people even kept my name and copyright on it! My childhood nickname that I’ve been running my business under for 12 years, TK which stands for Taryn Kylie. AR of products shipped to those stores and not paid of half a million owed to my company and….. crickets. That’s just products shipped and not paid. The point of sale states near a million in inventory in the stores they locked me out of and diverted cash flow from. It’s crazy! I’m still waiting on some form of justice. In the mean time I am the one paying back loans I had to take to make things work. I am the one who has to clear up the lose ends and do the right things. Because I say what I do and do what I say. The “bad guys” well they have since franchised the buisness we co founded together, all of which I funded. They are taking advantage of more people but now under my name. When we partnered up their financials showed they were headed for bankruptcy. But the story of immigrating here before Covid and that being the reasoning they failed, well I fell for it. My big heart just wanted to help. But here I am now hoping this doesn’t happen to anyone else but I am getting no where fast. My lawyers that I have given over 30k to, well it’s almost taken them a month and they still haven’t gotten back to me on an email I sent with questions on how to proceed, and they are suppose to be one of the best in the buisness. It’s been a very frustrating process to try and stop them and recoup some loses. Something here is broken. Who protects the good guys. The ones with buisness ethics?
To view or add a comment, sign in