Mickydripin Posted October 8, 2010 Share Posted October 8, 2010 Hi I noticed some people recomending Crown currency exchange not to long ago on this forum to buy Euro`s, from what I saw a lot of people use them I hope that you have not felt the sting one woman lost twenty million quid god it would upset me if I lost a fraction of that I think it will be jumping off buildings time for some of them. :'( :'( :-( Link to comment Share on other sites More sharing options...
nowtelse2do Posted October 8, 2010 Share Posted October 8, 2010 20 million!! what was she doing, laundering it? I think she should come clean :-DDave Link to comment Share on other sites More sharing options...
Guest JudgeMental Posted October 8, 2010 Share Posted October 8, 2010 Hi Mickey, Yes this was done to death in a thread last week :-D And as the smoke clears, as you say, a lot have been caught for a bit more then a few hundred Euros in holiday money... But 20 million! No wonder they closed up shop and legged it! *-) I find it hard to believe someone put that much in an outfit with no Banking protection. Absolute madness if true, but I doubt it......... Link to comment Share on other sites More sharing options...
Tomo3090 Posted October 8, 2010 Share Posted October 8, 2010 There was a feature on this today on Radio 4. I think Mickey might have got it a bit wrong! The company has gone bust, but it OWES 20 million to ALL it's customers but only has assets of 3 million. It seems they were speculating as a company by offering high exchange rates to get the cash in, paying a few people off with the incoming cash, then as they got bigger and the Euro went down they couldn't meet their commitments and folded. They were "registered" with the FSA but not "regulated" and it seems that is where it all falls down and there is no protection and very little chance of the customers getting their cash back. Link to comment Share on other sites More sharing options...
Guest JudgeMental Posted October 8, 2010 Share Posted October 8, 2010 another Ponsi scheme then.... http://en.wikipedia.org/wiki/Ponzi_scheme timely this, as when I bought last van in 2007 (and about to again) I looked into these type of companies and when I realised your money was not covered by UK banking regulations, I used our own high street bank...paid a few quid more, but so what, better then losing 30-40K *-) Link to comment Share on other sites More sharing options...
Mickydripin Posted October 9, 2010 Author Share Posted October 9, 2010 Tomo I think I may have read it wrong it stated Tracy Osborne one of the 13,000 customers owed a staggering £20million sorry a slip of the finger Link to comment Share on other sites More sharing options...
Mickydripin Posted October 9, 2010 Author Share Posted October 9, 2010 Hi the Euro went up a bit in the summer can anyone educated enough tell me why it is on the way down when our countrys finances seem to be improving we seem to be going in to the doldrums again with the Euro or is it just the people in Germany keeping us in our place because we would not drop the pound Link to comment Share on other sites More sharing options...
Mickydripin Posted October 9, 2010 Author Share Posted October 9, 2010 JudgeMental - 2010-10-08 6:08 PM Hi Mickey, Yes this was done to death in a thread last week :-D And as the smoke clears, as you say, a lot have been caught for a bit more then a few hundred Euros in holiday money... But 20 million! No wonder they closed up shop and legged it! *-) I find it hard to believe someone put that much in an outfit with no Banking protection. Absolute madness if true, but I doubt it......... It may have been judge I am a bit behind as I was in hospital last week and never saw it Link to comment Share on other sites More sharing options...
dwaviation Posted October 9, 2010 Share Posted October 9, 2010 There is a currency war on at the moment with most countries artificially deflating there currencies to help with their exports - Problem is that China is pegging the yuan to the dollar and it too is being artificially depressed which isn't really helping. George Sorros has warned that there might be some seriously turbulent times ahead.... If you're really worried you could invest in the current bubble 'gold' but even this is heading for a fall. Link to comment Share on other sites More sharing options...
mike 202 Posted October 10, 2010 Share Posted October 10, 2010 Just a thought - As the Judge said the subject is covered in a previous thread which is still being updated/posted on. Could we Please keep to the original post and save confusion over this second thread. Can't really see why it was started. Mike Link to comment Share on other sites More sharing options...
Guest JudgeMental Posted October 10, 2010 Share Posted October 10, 2010 mike 202 - 2010-10-10 10:12 AM Can't really see why it was started. Mike It was started because OP MickeyD had not seen it...simples Link to comment Share on other sites More sharing options...
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