Hi there,
Boy what a scam PIPS turned out to be.
It's gratifying to see someone being brought to justice on these matters....way too often it seems that these folks get of scott free.
Mr Tony Krollig of Efex International defrauded folks for some 13 million, simply declared bankruptcy and quietly went on with his life while leaving those who trusted in him somewhat worse of for wear.
That wonderful lawyer (yes Mr David Finney) who was acting on behalf of investors (?) never did bring the law to bear on this fellow......can't help but think that they themselves would have brought to account should all the facts and lack of ficuciary responsibility come to known....being the nominee directors for Tony's company.
Oh did I mention, Mr Finney was well remunerated for his "services" to investors....lawyers!
Well, I've moved on...but the scars remain....I think I'll need a damn good plastic surgeon to get rid of em!
Luckily there are legitimate ops about, you just need to make the extra effort to find them and be very diligent when conducting your due diligence. If it sounds too good to be true, well, it usually is.
Sadly, I dout that even if the PIPS folks are dealt with appropriately it won't serve as much deterrent to others..there's way too many loopholes. It truly is "buyer beware" and ultimately the responsibility does fall into the laps of those who take the plunge with their own money.
Cheers, Adam
