Meyado / Meretec / MITL / Martin Young – A Cautionary Tale

One of the banes of one’s life as an expat is the frequent calls from often very persistent “Financial Advisers” who claim to be able to offer all sorts of ways of enhancing one’s wealth. Unfortunately, bitter experience has taught me that the only people’s wealth they tend to enhance is their own – and the best example of this for me is the “Meyado Private Wealth Management Group“, a UK-based group who were active in Hong Kong in 2001 to 2003 and succeeded in extracting quite a bit of wealth from me before they were run out of town by the Securities and Futures Commission. It is clear that I was far from alone in this, and there are various sites on the internet where others have expressed their displeasure over the years with Meyado (there were more, but apparently Meyado has resorted to legal action to get some taken down). The latest such attempt to get a critical mass of people together to go after Martin Young (the CEO and owner of Meyado) and his cronies has now appeared at http://www.forespoke.com and I wish it every success.

Even if there is not much hope of getting any money back, at least such sites should help to dissuade other gullible expats from parting with any of their hard-earned wealth to these people in future. I find it quite amazing that they currently have a base in Singapore and appear to be tolerated by the authorities there, despite the fact that they were run out of Hong Kong by the SFC (generally far more tolerant than the Singaporeans). I have seen recently that the UK arm of Meyado is licensed only subject to the constraint that it may not hold client money, which gives some indication of what the UK authorities think about them. Moreover, I noticed that they were recently the subject of a winding up (bankruptcy) petition by the UK Revenue & Customs, presumably for non-payment of taxes due – hardly something that would happen to a reputable company – although the petition was apparently dismissed. And this is despite the fact that Martin Young has bought his way into the “posh” segment of society by sponsoring a fairly major polo competition (a big thing amongst the posh set apparently). It seems that if you have enough money, regardless of how disreputable its source, one can overcome an alleged local secondary school, army other rank, second hand car salesman background.

The various mechanisms that Martin Young has used to extract money from investors have apparently included the Velocity Fund, the Catalyst Fund (both of these before my time so I didn’t get caught), commissions on various less than stellar investment vehicles (e.g Newstar Hedge Fund), and, most egregiously, the whole sorry saga of MITL / Meretec. This did actually appear to be an investment in a genuine business based round a proprietary technology for extracting the zinc from scrap galvanised steel, but somehow the vehicle which owned the technology was sold to an Australian company (CMA Corp) in return for a load of CMA shares which are worth nothing like the investment that gullible people like me put into the company through convertible bonds and later shares.

Of course in the meantime Martin Young extracted huge amounts of money from the company to cover his “expenses” leaving it as an empty shell which went into administration (the halfway house to winding up as bankrupt) in 2008 with liabilities which more or less match the residual value of the CMA shares. Hence there is nothing left for the shareholders. So, in effect, the whole Meretec/MITL history has been an extremely efficient vehicle for transferring the wealth (and we’re talking tens of millions of US dollars here) of gullible investors into the pockets of Martin Young and his cronies. It seems to me that at the very least this man is incompetent to be the director of any company, and quite possibly he is an out and out fraudster. It is good to see that the administrators (SF Plant) do at least have their forensics people looking at the situation, which I might hope will lead to some criminal action against Young, but I suspect this is more hope than expectation, even in the current climate where there is some general support for going after the most blatant of the fraudsters (Madoff, Stamford, etc). Let’s see what happens.

If anyone has any comments to add on this whole sorry episode feel free to do so here. Also if you were one of the people duped then please do contact the group at http://www.forespoke.com to get involved in their action, and update them with any useful information you have beyond the documents which they have already published on their website.

Edit – I notice from the London Gazette that there will be further proceedings on 29th November regarding the liquidation of Meretec. I am in the process of finding out what this is about and will update here accordingly.

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154 Responses to Meyado / Meretec / MITL / Martin Young – A Cautionary Tale

  1. smog says:

    I find this comment on another blog post to be most informative:

    “If you all want to know who Martin Young realy is I can tell you as I knew him a long time back. He is the son of a Milton Keynes fireman and grew up in a council house in Bletchley.

    He did do a short stint with the Blues and Royals but was no officer. He then started as an Estate Agent in Milton Keynes before moving to Germany to be a car salesman. He was never a stockbroker. He started with Finexco in Frankfurt in 92 and quickley started to morph into the what he is today. Martin understand that if he can devide you he can dominate you. One of the oldest sales tricks in the book.

    Martins soft spot is his massive ego so if you want to get to him go for unvailing the story. he is no blue blood but a Milton Keynes estate boy who learned that a plummy voice can take you a long way.”

    • John says:

      Hi Smog
      Just want to clarify that there are two Martin Youngs in Singapore and the one at Farringdon Group has absolutely no connection to the one your blog is about. This can be easily checked out through each ones Linkedin accounts. Just wanted to make your readers aware of this as one of them has incorrectly jumped to a wrong conclusion on this thread.

      Regards

      John

  2. Sing Sling says:

    Martin Young is very careful to avoid having his profile and background shared. Neither the Meyado, nor the now defunct Meretec website have any details about the owner, driver and chairman of the company. Strange for a company claiming to be a global leader in expatriate wealth management…

    Same again with Martin Young’s picture. There are few pictures of the mysterious man.

    Here is a small picture of Martin Young for your reference. If you come across the man, please spit on his face on my behalf. http://www.guardspoloclub.com/files/player_images/790/1513_small.JPG?1251388248

  3. Big J says:

    I use to work for Meyado in Frankfurt. Some of the stuff mentioned above I’ve heard before. However, Martin’s father used to be in the army, I’d even met him once.
    I believe Martin used to work with another brit at Finexco in Frankfurt in ’92/’93. Unfortunately I cannot remember his name. If you could find this former colleague, I’m sure he could confirmed some of Martins back ground. He and Martin Young did not part on friendly terms, so I’m sure he would be happy to help.

  4. smog says:

    I understand that the further proceedings mentioned are simply procedural, allowing the continued activities of the liquidator in winding Meretec up. However, I also understand that this is independent of the forensic investigations which are ongoing, so we live in hope that these may produce something. As before, I encourage people to send any evidence they have to the Forespoke people – I believe that the forensic investigators are watching that site to make sure they have all the relevant information.

  5. smog says:

    I have taken a copy of a page which has disappeared from the blogosphere, but which was still in Google’s cache. It is here: https://smogsblog.wordpress.com/miscellaneous-stuff/martin-young/

    Some interesting rumours, allegations & history there.

  6. Golfer says:

    I am Big J’s Brit in question. I knew Martin from age 17 till 30. All that I have said before is true. By the way Martins father was a fireman in Milton Keynes.

    Martin worked with Brown and Marry and later Berry Brothers Estate Agents. I also worked for them.I moved to Frankfurt in May 1990 to work with Martin as second sales force selling cars to the American Military (the company was AutoExchange, Adickes Allee, Frankfurt. In 1992 Martin started with Finexco which was a tied brokerage for Old Mutual out of Brussels. They needed two guys to cover Frankfurt and so we started selling life products.

    It did not take long for Martin to see the potential and so the first Jaguar arrived as well as Polo lessons. Yes Big J I did leave Meyado in 1993 because like so many after me I was owed but never received.

    Martin Edward Young (MEY ADO)never came from money but has made a good job of convincing you all that he is. I would suggest that you all write complaint letters to the Guards Polo Club board. Martins Ego is his soft spot.

  7. disgruntled says:

    Hi, I too once worked with MEYADO and i too left for greener; more professional pastures. I saw through the mechanics of the accounting and i am surprised it took so long for others to spot it.

    I have quite a bit of info on MEY; including his whereabouts, but i am still finding it hard to believe that he deliberately defrauded investors at any time. I know he is a ‘wannabe’ playboy but i still think his heart is in the right place.

    If i can be convinced that this was a deliberate act I will freely (anonymously) ‘give up his details.

    SMOG – did you set up the website yet?

  8. Golfer says:

    Martins heart in the right place. That should make some very sad people grin.

    How much money do you think it takes to run two polo teams and all the life that go’s with it ? Sxxt loads. How do you get your hands on such amounts fast ? Start a company with a good story line and make every body bond holders of a UK LTD. Fxxxing brilliant.

    Has any one got the slightest clue as to how much Martin was paying himself ? This should be declaired in the company accounts should it not.

    As for being a deliberate act, well maybe a court will one day decide on that matter. One thing remains for sure that Martin has not answered the charges of a lot of very upset and much poorer people and untill he has can any one think this man’s heart is in the right place.

  9. Legionnaire2003 says:

    There has been a great deal of online ‘chat’ about Meretec and Martin Young and it’s about time somebody set the record straight.. First off, Martin and his Meretec colleagues brought about the creation of the world’s first commercial de-zincing process….something even the mighty Toyota failed to achieve. Two plants, one in Chicago and one in Melbourne, Australia, are currently utilising the process and are being operated by CMA Corporation Ltd.

    It is true that the whole exercise was very costly, and disappointingly, failed to deliver a return to many shareholders in the original venture. But that was despite a great deal of time and effort being invested by Martin Young. He regrets that the ambitious venture caused financial loss, but to say he set out to cheat gullible investors is simply not true.

    It is also a fact that investors went into Meretec with their eyes open. In 1998 and 1999 Meyado was receiving many requests from Advisers for technology related start-ups, which was why the Catalyst Fund was created. All investments in the Fund, including software, recycling technology, automobile and deal processing, were heavily supported by Meyado which invested in them from its own balance sheet. At all stages clients were fully informed by Advisers of the risks involved in this type of investment. Not all investors lost money either. The loan stock holders made a profit. Understandably some investors are unhappy at losing money, but it is incorrect and unfair to make Martin Young the scapegoat.

    Undoubtedly, the CMA sale was the pivotal moment as far as investors are concerned. After the plant sale to CMA, a full 10 years after the project was launched, investors in Meretec wanted an exit strategy. A deal was struck to sell the brand name of Meretec, the intellectual property and licences, to CMA. But CMA would only do the deal in shares. Essentially, the 37.5 million CMA shares would raise AUSD$30m in combination with the escrowed plant sale money to pay off the institutional bond holders. This was the best deal avaialble at the time. It was this deal or nothing. Who was to foresee that stock markets around the world would collapse? CMA shares crashed along with the Australian dollar meaning the CMA shares were only worth a fraction of the outstanding debt. That is why Meretec was forced into administration. Again it is convenient to blame Martin Young, but Meretec wasn’t the only fragile company around the world to be a victim of the global economic meltdown.

    In summary, Martin Young devoted a big chunk of his working life trying to make the Meretec project work. He lost money personally, as did Meyado. This is a tale of a brilliant idea that took too much time and money to be made to work, and was eventually brought down by the credit crunch. It is not the only creature of the technology boom to go belly up. It is important that people fully understand the background and events surrounding the deal and bloggers stop finger pointing in order to besmirch Martin Young’s reputation.

  10. disgruntled says:

    Legionnaire – I will back you up on this, although i do not know the in’s and outs of the Meretec deal itself i am smart enough to have looked into the other funds etc. Knowing how the markets operate and knowing Martin i came to the simple conclusion that i shared earlier – not believing it was a malicious act on his part.

    There is obviously a motivation for some to take this as far as it will go and maybe then this will all sort itself out. Until then i will remain silent on the subject.

    Thanks to all.

  11. Golfer says:

    Oh Boo hoo. What a sad tail. I almost shed a small tear for the brave efforts of Mr Young but then I remembered all the people who seem to be left financialy bereft by such efforts over the years and I put the tissues away for another day.

    If young wishes not to be maligned for his valiancy and apparant personal financial loss, one might suggest that he try writting a personal letter of apology and regret to all those people who have been made to feel the sting of this “Brilliant idea” perhaps then his reputation would be a little less bismirched.

    Just a thought, perhaps he may wish to enclosed in his letter details of all financial renumeration he recieved from this “Brilliant idea”. As I say just a thought. Then again he may wish to come onto this forum himself and lay the fact bare. It would certainly be more poignant than having to read the drivellings of a lackey.

    Alas I forgot. We should all put this down to the credit crunch and shake our heads, shrug our shoulders and shuffle off, feeling sad but wiser, poorer but richer for the knoledge we have gained. Sxxt, I nearly reached for a hanky just then but
    then I remembered I Have personaly taken two companies through the Tech crunch and the credit crunch in good shap with out financial loss to either organisation yet still I do not look at myself as a business Guru. What then can this say for those who lead the “Brilliant idea”.

  12. DreamWeaver says:

    It turns out it was all a bad nightmare. We all made millions as well as Martin.

    http://www.accessmylibrary.com/article-1G1-76833048/big-dreams-coming-true.html

    What a wanker!!

    As for the “credit crunch” idea of why the firm went belly up I remember being told in 2001 that it was because of 9/11 that Meretec was unable to progress.

    To those Martin Young sympathisers (I don’t see even his own lackies outright supporting him) that its not just Meretec that has lost money.

    The RS Meyado Euro Velocity GBP fund has underperformed its benchmark by around 32% cumulative in the last 3 years. This stellar 1 star fund is no doubt the best performing of all of Meyado products since inception.
    http://www.trustnet.com/Factsheets/Factsheet.aspx?fundCode=YVNMEV&univ=SU&pagetype=performance&typeCode=FYVNMEV

  13. Lazarus says:

    Imagine what it must be like if you are working for Meyado. I mean there you are trying your best to make a living (hard enough in sales)but the the persone you are trying to sell to just went online and looked at whats been written about the top guy and there go’s the money.

    If I was working with this company I would be asking MEY why he has not answered any of the questions others have asked. He can’t be helping his consultants this way.

  14. XYZ says:

    http://www.asx.com.au/asx/research/companyInfo.do?by=asxCode&asxCode=CMV

    You should notice the company that bought the Meretec technology (the companys’ shares that Meretec were paid in at about AUD 0.80) are now trading at AUD 0.083 and have been suspended from trading….

  15. scottishexpat75 says:

    Did any of the Meyado guys ever attend a REAL university?

  16. Golfer says:

    Well spoted XYZ.It’s all getting Machiavellian. Makes you wonder who might pick up the Meretec technology should it be sold????? Worth watching.

  17. Lazarus says:

    Has any one from the Meretec or Meyado board been taken to court or is any cases pending concerning the points in question. Would any one know?

  18. smog says:

    Not as far as I know. I am aware that the administrators (SF Plant) were doing a forensic review to see if there were any grounds for saying that the directors had failed in their statutory duty or that there had been any fraud involved, but other than that what do you feel would be the basis for legal action?

    (By the way, I’ve unprotected the copy of the other old blog page since much of it has now been repeated here without any repercussions).

  19. Bedlam says:

    Having gone over all the comments again (thank you Smog for keeping the old blog)it looks like the Catalyst fund was one of the main investors in the Meretec operation and the Catalyst fund was sold via the Investment products of Royal Skandia Life Assurance Ltd, Isle of Man. 0044-1624-655555.

    If this is the case then you may wish to know the commissions generated on such products.

    Managed Capital Acount = 8-9% of intial and regular investment and top ups. + 1% Fund advisor fee PA if selected.

    Executive Investment Bond = 5-7% of initial investment and top ups + 1% pa fund advisor fee if selected.

    Collective Investment Bond = 5-7% of initial investment and top ups + 1% pa fund advisor fee if selected.

    Managed Pensions Account and Managed Savings Account:

    = 3xTerm = % of first years premiums as basic commission.

    Example: 25 year term = 75 Client saving $1000pm x 12 = $12,000
    75% of 12,000 = $9,000 basic commission them between 20-35% extra is normaly added as soft commission + 1% pa Fund advisor fee if selected.

    IMPORTANT: If you were sold such a product that was not licensed for sale in a regulated country and by an unregulated agent you would have strong grounds to go after Royal Skandia directly. Keep in mind that they must compley with ALO Association of Life offices and also the FSA rules. What license did the Catalyst fund have to operate and on what grounds did Royal Skandia allow this fund to be purchased.

    Royal Skandia will try every trick in the book to get out of this but they do know the law and most of the time will ignor this in favour of commercial interest. They normaly don’t like to get into court cases so go with a lawyer.

    I hope that this may help some of you.

    • Whistleblower says:

      With Skandia you can also contact the MIA in the isle of man, Skandia are very good at diverting the blame from themselves even telling clients that the complaint they have addressed to Skandia should be addressed to the broker instead and as such they refuse to accept it, didn’t know that was legal but this is Skandia after all! They also will take business from any crooked brokerage because it is money and greed overcomes all morals! They also get control of the investments by refusing to allow ex salesmen of brokerages like meyado from looking after their clients even though the clients want them too, the only recourse the clients and the ex salesmen have is to demand the brokerage is removed but the consequence of that is that you have to have a letter off the client to get access to the policies and guess who keeps the trail or renewal fees for looking after the clients funds and investments ??? You guessed it Skandia does so tell me why this company is still in business and why they seem to be impervious to any regulators actions?

  20. Lazarus says:

    Just spoken with the Forensics team at SF Plant. Boy they have had a lot of calls and mails concerning Meretec. The investigation is still ongoing and is being checked by the lawyers. Details will be sent to companies house eventualy.

    One thing that struck me as crazy is the fact that SF Plant have to correspond directly with Meyado on this case as they are the holder of the CMA shares. This should give great comfort to some……..

  21. Beelzebub says:

    For those how may need it some public information.

    http://www.fsa.gov.uk
    Meyado Private Wealth management Ltd.
    Registration Number: 442632
    FSA Tel: 0044-300-500-5000

    Royal Berkshire Polo Club
    North Street
    Winkfield
    Windsor
    Berkshire SL4 4TH
    Tel: 0044-1344-890060.Fax:898470

    Guards Polo Club Holdings Ltd
    Smiths Lawn
    Windsor Great Park
    Egham
    Surrey TW20 0HP

    Chairman: Colonal Belcher

    Tel: 0044-1784-434212. Fax:471336 (Tuesday-Sunday)
    http://www.administration@guardspoloclub.com

    • Whistleblower says:

      This is also recent from yesterday 13th July 2010, you have a contact for the comapany. The interesting thing is that in Spain there is two regulators the DGS and the CNMV one handles life insurance the other investments, only Spanish investments are covered so even using the UK Passporting facility under the FSA if they sell UK products not made for the Spanish markey approved by the CNMV they are illegal, I know of only two companies in the Isle of Man/Eire that have legal products yet the other companies will accept business from there, similar rules apply to France, as for being authorised in Dubai, that I will check through my contacts there.

      IFAs and Business Owners

      Throughout UK & Europe, Negotiable
      Meyado Private Wealth Management is directly authorised by the FSA to conduct business in Europe and Great Britain. In addition, Meyado is authorised in Singapore and Dubai. If you’re concerned about the stability of Networks then why don’t you get in touch with us and take control of your situation. We are looking to recruit a limited number of experienced IFAs and business owners who want to take control of their British and European business in a directly authorised environment with a partnership offer.
      • Offering Direct Authorisation in Great Britain and Europe
      • Offering up to 90% commission
      • Offering Online Client Valuation Service,
      • Hassle free Deal process and Compliance
      • Free your time to increase sales
      • Service Clients in France and Spain
      • More reliable than a Network
      If you would like to work in partnership with us in Great Britain, France or Spain and take more control of your time whilst providing your Clients with a full online valuation service and up to 90% commission please contact Graham Brown at 0203 178 7700 or grahambrown@meyado.com.

  22. Golfer says:

    ODE TO THE LAPDOGS.

    A lapdog is such a lovely pet to have around and work all day.
    It makes my pay and never does it think to stray.

    A lapdog is quite a quiet chap.
    Hes not a whining grunting hog,
    or like the growling, barking other dogs,
    that bores one with all that yippey-yappy back chat.

    A very useful beast to keep;
    with all its work, the money piles so deep.
    And when others knock at my door, I send it forward whilst I retreat.

    Dedicated to the Lackies. You know who you are.

  23. Veps says:

    Oh my God, what is everyone thinking here?

    Martin Young is a Crook? It has been suggested Young is like Bernie Maydoff?? Oh no my friend. Maydoff didn’t even invest the money, it went straight into his pocket. Even Nick Leason invested the money, just didn’t want to report the losses. And why should he? he has something to feed and protect before that happens.

    I think these 3 charachters all share one thing that is widespread in human behaviour, the craving to satify the ego, pride, self-importance. Call it what you will but Leason has freely admited that the strength of his ego couldn’t allow him to report the losses. And be sure in the knowlege that humans who possess this high level of ego satifaction can sometimes go actualy insane, to achieve their cravings. Please note I mention the word cravings and NOT just a passing desire.

    Ofcourse there are different methods and industries in which to achieve these cravings, and this is Martins way.

    Young didn’t put investors cash directly into his pocket, with forged documents for the clients. Rather, Youngs cravings bought a donkey. And the problem with the punters backing a donkey?

    I strongly agree that clients have every right to be informed on the performance – north or south. And ‘MAY HAVE’ cooked the books for himself when things looked grim. His salemen may have promised the earth. But the sad truth seems the investment was sound, but the egg turned bad then his ego turns into protection mode, and after several meetings with him, he will say anything to serve his craving.

    And the reason we invested. Unfortunalty we are just as greedy. Remember Meretec is a single company investment/Stock. There are many options out there, mutual funds, bonds etc, so why a single stock, you knew the risks associated with that.

    Martin Young is guilty of many things, yes he is a fake. He was never a stockbroker, but delivers it without flinch. He craves to be loved as a God, and you will see a complete change of character if you stroke his ego. Quite amazing how he got this far. If you look at the quality of his staff, they look like rejects from the Toys R Us board. And yes he is a complete social missfit.

  24. DreamWeaver says:

    Veps,

    the problem is Meyado is meant to be a financial advisor which is why people go them for advice, usually in countries with poor regulations covering such services or disregarded such laws. I believe a lot of people who invested in Meretec did so under the advice of Meyado acting as a Financial Advisor, not as a peddlar of extremely risky unlisted private equity investment. Others no doubt invested with eyes wide open knowing the risk, but I have a feeling they were the minority.

    For bypassing local financial regulations I say Martin is a crook and completely unethical.

  25. Josh says:

    The Meyado guys are just a bunch of second hand car-dealers, trying to infiltrate the Xing platform by now.

  26. Veps says:

    Hi DreamWeaver,

    Thanks for your earlier comment.

    DreamWeaver, Financial Advising companies are able to ‘SELL’ any products they wish. As long as they are contracted from the originators. And please note: I used the term ‘Sell’, this will become relative below.

    Your statment suggests the postition you have taken. That: Meyado are not allowed to ‘ADVISE’ on extremely high risk unlisted stock’. You suggest that should be left to the ‘Peddlers’.

    Please take this whole episode and pretent it happend in the UK. Same company, people and clients. And all nice and legal. Now, the same procedure of buying your stock would not raise eyebrows with authorities. BUT if the salesman have given writen evidence (promised guarantee notes)to the client, a British judge would favour us.

    But if we havn’t that evidence, what are we going to say to the judge? ‘The salesman ‘ASVISED ME’? and they are not allowed to advise on ‘extremely high risk stocks’? only low ones? no weight in that.

    Its none of our buisiness what Young decides to sell, it’s none of the judges business, bearing in mind the UK example still remains, so the company is listed and ALL LEGAL. And your posistion of labeling the investment as ‘extremely high’ just gives the judge an idea of what YOU think is high risk. The judge can’t put Young away for what you think is high and low risk. I personaly think its low risk stuff.

    If you walk into a shop and ask for a jumper, a saleman could show you hundreds, but it’s definatly a jumper you want. A good salesman will ask you the colour you want, the size you are and the designs you like. THEN!!! he will ‘ADVISE’ you on the ranges available to you, AND THEN ‘SELL’ you HIS offerings in the range detailed to YOUR specification. (still in the jumper range)

    Now, if you are walking in and asking for a 50 year PENSION plan and end up being convinced that the salesmans ‘advise’ of 1 single stock in a fantastic idea – thats going to rule the world, not yet, but DEFINATLY soon, is the answer for a pension, then I fear a fool and his money are easily parted.

    You make it sound as if you have just walked in, dumped the money, didn’t speak, and walked out with preconceived ideas of what they should and should do with it?

    Please also note, I would rather boil my head than spend any time with any self centered person.

    But you must understand that Young had approached this effort with ethical intentions. You see, if that venture would have worked, Young would have satisfied his craving, and as a result so would you.

    So please, I am behind you, but you must understand when you put a bet on ANY roulette wheel, your number may not come up. And unless there is substantial evidence that Young intended to put your money, either directly or indirectly, into his back pocket, from the start. I would suggest lick your wounds, and leave your money under your bed.

    • Whistleblower says:

      Veps the one thing the judge and the FSA will look at is if you have a UK passport and a UK address and have been UK resident or have become so in the last 6 years, you might also like to consider that if you have utility bills addressed to you at the UK address the case could possibly be made that you were UK resident at the time the sale was made to you and that Veps is ILLEGAL and something the above would act on!

  27. Veps says:

    Sorry just to end: Young Bypassing local authorities –
    Many, not all, developing countries do not employ strick financial regulation because it just isn’t there, there is nothing to adhere to. I understand his Singapore operation failed this accreditation, but it’s no where near uncommon for that type of business model, remember ‘technically’ no money changes hands in these countries, actually, in your oppionion ‘Advise’ is, and developing countries don’t have the ‘interest budget money’ for how one expat ‘Advises’ how they invest their money. No where near priority.

  28. kipper says:

    Well, well Mr Veps…..it’s been a few years ‘OLD boy’. I undestand you bought an ‘old bangor’ very nice car mate, 25 built I understand???

    Veps, call me mate, I am still on the old number and have something VERY iteresting for you,,, with the ‘boys from Brazil’. Aparently there are some ‘out-standing’ payments still owed to you and me.
    Just get on the bloody phone!11

    Right Veps, Bazza asked me to look at this!!!!

    Ummmmm yes, looks like ALOT of investors got pissed off with an attitude 1ST, and anything else thereafter. And I am with you on this one Veps. Carefull with your comments on Local Authorisation mate, things have changed somewhat since you ruled the world chap!!!! But the fundermentals of your views seems reasonable enough.

    Listen up,,,,,in YOUNGS game I had numerous meetings with pehaps the most successful & respected person in the ‘off shore’ investment game. D – French (Hong Kong) you met him on your visits??? What amazes me is the all these different bloody stories of who, what and where, really, this character came from and is???

    Even Frenchie, with all the success he has achieved ETHICALLY, still tells people what he used to be…….. a copper. A motorway police man Veps,,, he doesn’t feel the need to lie, doesn’t want to lie = clients give him more. You see Veps, that door, Young, thought he closed, opened up again, sad result of telling the world big lies, you can’t find a key to lock the f__king thing.

    But the interesting part is Youngs feeling of need,,,, the need to tell the world he was a stock broker,,,,,Jesus of all the boys I’ve known, you can only get away with that monster lie if you were an unoticed salesman. Not a bloody company boss. That tells me the story of the whole damn thing Veps,, and I can only help these investors by telling them this, and please, to the investors – I comment for your interest, with the view to help.

    You invested in a donkey, he didn’t didn’t have a corrupt bone in his body, things may have changed to cash himself up, they all bloody do not just Young. ‘cook the books’ Im orffff mate.

    You thought you invested in professional confidence,,,you invested in a confident prat. And thats the main difference here. Prats can’t wait until tomorrow, there are thing to do today, but if little jonny wants his ice cream? F_ck me Veps there hell to pay.

    Young has lost your money on the company, not in his bank account, I understand polo is the game. I understand for these investors my and your comments will not be enought, other factors that I don’t know, but I agree no Britsh judge could put him away for this one. What for = being a confident PRAT, the F_cking jail would be overflowed mate.

    Veps get on a plane, call, do what do, lets catch up. Speak soon.

  29. kipper says:

    By the ways Veps,,,, how many ex-stock brokers follow Youngs career path? Don’t waste your finger power on it mate.

  30. smog says:

    Thanks to everyone for the above contributions. Keep ’em coming (and keep on calling S F Plant from time to time!).

    I note with interest the suspension of the CMA shares, and the EGM which is being held on Saturday (3 April). Essentially Scholz, the largest European recycling company is proposing to increase its stake in CMA to about 42% via a rights issue. The price they are paying implies a post-rights share price of over A$0.2. The report of the independent evaluators puts fair value of the post-rights shares at about A$0.27.
    All the paper work is here: http://www.cmacorp.net/attach/1_CMV20090224-197.pdf

    I never managed to get a clear answer from SF Plant on what price the CMA shares would need to get to before there would actually be some cash that could be realised for the Meretec UK Ltd shareholders. Does anyone have any idea about that?

    I hope SF Plant aren’t rushing into selling the CMA shares – it seems that they have quite significant potential upside when they relist after suspension.

    I’m also curious as to who, if anyone, will be exercising the voting rights of Meretec’s shareholding in CMA at the EGM on Saturday.

  31. Veps says:

    Smog, please could you inform me of how you accessed the investment. Meaning: did you transfer funds directly into the Meretec account? Or: did clients open what’s refered to as a Wraper Around Bond. Eg – Royal Skandia EIB -then the purchased the Meretec stock from there?

    He ‘may’ have done whats known as a ‘double wammy’ on his investors. Long winded story, but only a few clients who understand how to use these bonds properly benefit from them. Alas the rest are completely unaware.

    With thanks
    Veps

  32. smog says:

    I invested directly – initially in the 10% coupon convertible bonds. I got one (or maybe two) coupon payments on them, but then I made the mistake of converting the bonds to stock. I think that those who simply stayed with the bonds did get their money back, so that would have been quite a good investment. But essentially they got their money back from the suckers like me who ended up with worthless share certificates.

  33. Veps says:

    Thank you for your reply Smog,

    Smog. The below statment will not make sense ‘per sey’ bear with me.

    ‘YOU did NOT make any mistake converting at the time’.

    Rather: you made a calculated decision: at the ‘Time Going to Press’: based on your personal position:

    If you were able to predict the future, market outcomes and timings, we would all have been retired at a much earlier age. I note with interest an above bloger claiming they were ‘intelligent enough to have seen through it all’ and decided to invest in better things else where? To the bloger:- perhaps you should share your ‘intelligent investment methods’ with world, by way of a book. FACT: You would never need to invest again. Now place my thought at the front your investment statagy and I’ll take 49%. Don’t worry I know your answer. Alas, I fear you have just given away your investment experience, which is very little. I wonder how many ‘non perfoming’ investment stories you are prepared to share with us?

    Smog, alot of Business’ like Youngs who follow a simular business model, could have easily done this another way, through this Bond I mentioned. I shan’t bore you with all the details, but the fact his sales force havn’t tried to recomend it, has just reinforced my position that he had not tried to con the word.

    If he had tried to ‘con’ the world, he could have done many things to enhance his wealth, TREMENDOUSLY, he could have trippled it, via differenct ways into the stock. No need to bore you with the hows. But the important thing to note here is, HE WOULD HAVE KNOWN IT. Within point 1 of a sec, he would have known how to triple his worth. It’s been done too many times without clients knowelege and becuase of the ‘LAX’ local regulations, get this – you still couldn’t put him in jail.

    Smog, I am quite surprised that investors havn’t licked their wounds with this one ‘yonks’ ago. In your oppoinion, why haven’t people moved on from this?

    Please forgive my ignorance, but isn’t it time to move on now?

    Thanks
    Veps

  34. smog says:

    I’ve written the money off, but I hope through this and similar discussions other potential investors can be warned of the fact that Meyado / Martin Young’s track record of actually producing a decent return for investors is more or less non-existent.

    Moreover, whilst SF Plant’s Forensics people are still involved there’s a small chance of getting something back (depending on what happens to the CMA stocks). There’s also a possibility of Young being found unfit to be a director, which I personally feel would be for the greater good.

  35. Veps says:

    Smog: Now I understand and commend your efforts.

    FYI: I noticed Kippers comments relating to a Mr D French based in Hong Kong and note that you are an expat there. If you are still there and need to invest, without time to manage the markets yourself. Try: MBA Berkeley Berke (HK) – CEO David French. Please do your reasearch on him by contacting the major ‘Life’ companies based in Hong Kong. If my mememory serves me correctly, I think Zuirch (was Eagle Star) Royal&Sun are there, anyway they all sing his praises and want his business. I have met him only a few times, but we know where we stand every day with that character, not to many sleepless nights, his business is his baby, and thats why the company is clean and health.

    Oh,, and for those of you living in Singapore, KL and Bangkok, Don Smith is the same. I forget the company name, bu he is the CEO. Ask David French for his number. But just as well respected. And please tell Don it was the person who gave him a very expensive watch, in a white envlope, that recommened Don. He will know who i am then

    Good luck for your future
    Veps

  36. Humper says:

    Dreamweaver: Please do your research relating to your statement: Meyado are ‘peddlers’ of ‘ high risk unlisted stock’.

    Are you familiar with Merrill Lynch? right through to Citibank – or take an issurers, Lloyds of London should sufice? or any major player in the investment game.

    Now bog me how many ‘COURT ACTIONS’ ~ law suits, that are taken out EVERY DAY,,,,against their names,I think at 1 point one of them was on about 50 A DAY.

    Now take a look at the ‘RISK’ they offer their clients: Future contracts right the way over to ‘you backing a ships oil delivery’ making sure it reaches shore without a ‘spil’. Does that seem safe enough for you. Is it ok that Lloyds can sign you up for this? Merrill can loose you 1m in 1 sec with a future contract? whats up Dreamweaver,,or did you think they just supplied you a nice nice bank account with free pen?

    So, if the investment fails,,,,shall we ALL resort to calling them PEDDLERS??? and blame THEM,,,,,the blame game? ‘Hey is was the saleman fault the ship went down’

    OR shall we revisit your investment experience and start again?

    And by the way, the next time you take out a nicely ‘geared up’ forex contract, that doesn’t mean you go into ‘fly with Jimmys’ local travel agency to put your bet on?

    I aint suprised your upset.

  37. Catalystnomore says:

    Smog,

    Keep me informed on this matter. I invested in the Catalyst Fund and tried many times to get my money out without success! My requests feel on deaf ears and was always told that the fund is frozen, since 2001 and never unfrozen till now. The fund was sold to me by Meyado directly. Despite being an open ended fund hmmmm well, maybe open ended to get money in but not to get money out. I hope SFP have got some good info on this fund and those in charge (fund Manager) are made to pay. I was told at one point we would be issued CMA shares, and that never happened, nothing happened, I was wondering if anyone has got money back from Meretec shares or Catalyst Shares?

  38. Dis says:

    Hi Guys,

    Not much to add. I invested in MITL loan stock. 18 months after the agreed end-date of the scheme I did get the money back with 10% pa as promised. However, the delay wiped out any profit as the dollar dropped 40% in the same period!
    I foolishly re-invested 15% of that into MITL (Meretec) stock – my financial advisor told me to invest all of it!!!
    Like all of you, I was never contacted about selling all the company to CMA – which sounds illegal to me, and I didn’t hear any more about the conversion of my shares to CMA shares. Not being at all knowledgable in this field – could someone advise – who now owns the CMA shares (even if they are suspended)?

    Btw, the rest of the money back from the MITL loan stock I put into an Icelandic bank in the Isle of Man – one day I hope to get all that back too…

  39. DreamWeaver says:

    Humper,

    always nice to get a note from a Meyado employee.

    Personally I was one of the lucky ones. I got out of my MITL stock, MITL loan stock, Catalyst Fund by badgering Meyado. As it appears I am one of the few or only one who managed to sell you probably know who I am. A friend of mine believed the b****it and was not so lucky.

    If you must know I invested directly with the following Fund Managers (and thereby cutting out any commssion from “financial advisors”): Orbis, Platinum Australia, Gottex, and a few other minor investments. All have outperformed the market comfortably over the past 5-7 years in the time period I have held them for. I will recommend these companies to anyone who visits this website when considering to invest with Meyado.

    And yes what does upsets me is that Meyado is still in business.

  40. golfer says:

    To the man in question.

    Yes we both know you read this blog. I was not suprised by your reaction to the comments on your Father. Whats the matter was he pretending to be an officer as well or was he a stock broker at all those Polo matches. I have to confess It always struck me that he never realy liked you much but of course I could be wronge.

    You will remember my Father of course and how he would cross two fingers over two fingers to represent prison bars when ever you came around. Ah, so long ago but so prophetic.

    My God it has got to be so embarasing having your friends and family read all this. I was talking with two of your old pals from the Estate agent years. They did not seem surprised about the situation. In fact one old manager was very vocal about you. It would apear that some people could see the road you would take. So CONGRADULATIONS you have become what your past maped out for you. Oh dear, oh dear, oh dear.

    • disgruntled says:

      well well Golfer or is it Mr. Brown? You sad little man. Whats wrong, someone stole your toys again and you thought you would just get your own back by being snide on a public forum. Grow a pair and call him instead of messing around on here. Martin is not a Maydoff or any other form of con man for that matter. Seriously. grow a pair.

  41. smog says:

    Interesting to see the ASX announcement that the Chairman and CEO of CMA have been booted out… But I guess even that isn’t going to result in the shares increasing in value 10 times when they are unsuspended, which is about what we would need to get any value out of Meretec.

    • Dis says:

      Yes, but who owns these CMA shares? I assumed they were sold to pay off Meretec debts (or Young’s salary). I didn’t receive any indication that my Meretec shares are now CMA shares, just a copy of an email from Young to my financial advisor as follows:

      “CMA has offered to buy Meretec in an all share deal worth $30 million. This means that subject to the deal being completed all shareholders will cease being Meretec nominee shareholders and instead become nominee shareholders in CMA shares which will be subject to a two year lock up.

      At the end of the two year lock up period the shares will be transferred from the nominee and lock-up status and be freely traded shares in CMA which is publicly quoted on the Australian stock exchange.

      The shares are priced daily so it will be easy to establish value for the investors even though the shares cannot be sold on market for two years.

      During the two year time period where the shares are locked up in the nominee account which is escrowed it will be possible for investors to transfer/assign or sell their shares on an off-market basis if necessary.

      The Meretec board sees significant opportunities for its shareholders in achieving public market for its stock by swapping its shares in Meretec for shares in CMA. Although the issue price of the stock is at a considerable premium to the current CMA share price it does reflect the underlying value of CMA with current analyst reports showing CMA worth A$0.90 per share. Furthermore The Meretec board feels that within the two year lock-up period that their will be significant opportunities for the price in CMA stock to climb within the rage of A$1-A$2 per share.”

      What a piece of mis-information that was!

  42. Golfer says:

    Hello Disgruntled,

    Your use of prose and wording, excellent. You must have enjoyed my work on Lapdogs.

    So how does it feel to be neutered and kept on a tight leash ??

    Oh by the way I still maintain that his dad did’nt like him. What we see is probabaly a reaction to the early years. May be a little therapy is in order. of course this is a personal opinion and should not be viewed as reflecting the group view.

    • disgruntled says:

      Golfer, Sorry to dissapoint however I have no leash and dont work for Martin. As for lapdogs, I am sure you have a lot of relative experience there.

  43. Golfer says:

    Hello Disgruntled,

    So you have changed owner. Oh, woof, woof.

    I noticed you did not mention not being neutered. I guess a slip on your part……Fido.

  44. Whisleblower says:

    Having read this blog with interest it brings to mind another similar forum about Belgravia Intervest Group (BIG) and the saga and transition to Tallyho Ventures and Mastertrust et al, worth noting the amount of times the prinicpals of these organisations pretended to be disgruntled punters to build up empathy in the forum and to solicit personal contact which they then used via their ill gotten gains to purse the punters and the forum hosts! Just thought you should know.

  45. Lazarus says:

    Hi Smog,

    What is the latest from SF Plant if anything.

  46. Interesting says:

    Very interesting to read this blog. Any employee reading this must be feeling quite bad and I do feel sorry for them. The professional reputation of the firm is, as far as I am concerned, very negative.

    Specialised in private wealth management mainly for expats, potential future clients, reading this will definitely think twice. Trust, is a major driver in building sustainable business relationships, especially in this business field…

  47. Road Warrior says:

    Golfer, thought I might find you in this blog. Glad you can shed a bit of light on Young’s dubious past.

    When I met Martin Young all those years ago, I was amazed at what he’d achieved in such a short period; Officer in the household cavalery, DJ in a strip joint (I kid you not!), broker at Merrill Lynch etc.

    Considering Young’s ego, and I think we all agree it’s huge, I’m a little puzzle why he is so Internet shy. I mean, if I had a brilliant product for sale, I would shout it out and let everybody know who I am.

    I’m also puzzled as to why Mark Paine seems to be the front pup in the Meyado game.
    As far as I remember, Mark and Martin go way back. Probably grew up in Milton Keynes together.

    As regards to Young’s father, I believe he was involved in Meyado in the 90’s. He also fronted himself as a polo player. Probably also an officer in the armed forces, not sure if it was the cavalery, but certainly something to do with horses.

    It seems I’m one of the fortunate as I never lost money in Meyado. Probably because I found the whole set up too amazing and never parted with any of my hard earned cash!

    • Golfer says:

      Hi Road Warrior,

      You said you thought you might find me here. How far back do you go?? Broker or client??

  48. Road Warrior says:

    If you would like more pics of Martin Young, try this link:

  49. Golfer says:

    Just for the record. Mark paine is Martins cousin and has been ridding the Meyado coat tail all his working life. I guess he knows no diffrent. So congradulations and welpdone on the promotion.

  50. birkozo says:

    The problems begins with UK government and the illogicality of inheritence tax. If someone sold an expensive house a few hours before his death to a stranger, who defaulted, the IRS would never follow it up, providing that the transfer was paid for. So why can’t one sell that house to one’s son and tell him to default. That way there would be a steady income for the government.

    The standard way to avoid IT is to setup a company and a trust in some offshore jurisdiction. Unfortunately, it is not only an expensive way, but it attracts sharks. Royal Skandia’s tentacles are wide spread. In East Africa they work with a company called VFS. Its MD, who comes from an old settler stock, with fancy offices at the top of a Nairobi super market, flies his aeroplane around in search of clients. He calls himself and independent financial advisor, though his investment knowledge, like most of his kin is zero. He targets mainly old people enveigles himself into their confidence and then sets up a company and a discretionary trust for them in Mauritius with a trustee, who never heard of exercising due diligence. Then he invests a large proportion of their money into the poorly performing VAM fuds, in spite of being told to make investments into deposits. This yields a large commission. Then any cash that is left over is placed into a so called Executive Investment Bond with Royal Skandia. Skandia’s contact terms are never shown to the client who is asked to sign an agreement, neither it is published on the web. It is a lousy life assurance bond, which locks people in their 70s and 80s into a bondage for 8 years, with huge penalties of 150,000 pounds for early withdrawal. Skandia accepts no responsibility, it clims that the sale was made by the advisor. They are uncooperative ask for all kinds of identification which they never did when accepted money.In other words they run a massive scam, which should be stooped by the regulators and the government. Until recently they put in huge amounts of deposits with Singer and Friedlander which had been in tailspin for years. This should be investigated as when money disappears it is normally in someone’s pocket. We all read about the poor caravan park people, who have invested a million pounds into Skandia, in turn invested into Singer and all gone. IN WHOSE POCKET. This is the Iom investment scene today.

    • Whistleblower says:

      Nice to see someone else has the facts on Skandia and there are others in the IOM who act the same way but not as bad as Skandia, I brought to the regulators attention that they were accepting business from two guys that were being chased by the authorities in Spain and they still took their business until they were exposed to all and sundry! They are like eels try and grab hold of them and they slip away using every conceivable trick possible. I have learnt a lot dealing with them and have found their Achilles heel after a lot of time and effort!

  51. smog says:

    It’s interesting to see what’s been going on at CMA. It seems that the boss there was also something of a crook – is there some sort of worldwide network of dodgy dealers that Young and Rowe were part of? The new German owners seem to be getting in there and perhaps getting Rowe up in court. It’s a shame no-one has managed to do the same with Young yet!

  52. Golfer says:

    Would anyone know what role Mark Paine played in the “Brilliant Idea” I note that he has replaced Martin as head of Singapore. Little wonder why.

    Did Mark Paine actively promote to clients the “Brilliant Idea” It would be good to know.

  53. Golfer says:

    It should be no wonder that the public have such little faith in the professional abilities of so called financial advisors or as some like to call them selves Private Wealth Managers.

    Lets take the case of Mr James Mordaunt who works with Meyado in Singapore. I have looked up as a matter of public record (and posted by himself) that he is currently a Private Wealth Manager with Meyado. Yet this is a person who has had by his own admition four previous jobs, none of which that I could fathom was in the field of wealth management.

    Each of his previous jobs lasted little more than a year and yet there he is as a Private Wealth Manager.

    One would have to ask as to what experiance professional or academic this person has to give such advice. Is he licensed. Has he past any form of exam in this field. If this is the case then he has not taken the time as yet to publish this information along with the other details of his new incarnation.

    Wealth Management or financial advice is a serious business. For those seeking such advice I can only say that the person you are dealing with must clearly be able to prove that he or she has not only the regulatory and academic qualifications to advise you but also has the depth of expeience as well. After all wealth management if not carried out correctly can result in you becoming poorer.

    Perhaps Mr Mordaunt would like to post on this forum and let us all know what qualification or licence he has to give Private Wealth Management.

  54. sara Radford says:

    Mark Paine conned us we even met his children, we were so gullible and lost over £50,000 and almost lost our home on his brilliant financial advice.

    • Golfer says:

      Hi Sara,

      Sorry to hear this but alas it does not surprise me.

      The question any one thinking of using the services of Meyado should be asking is, are any of the (wealth managers)qualified or hold licence.

      What qualifications or licence does Mark Paine, Martin Young or James Mordaunt have to give any one financial advice of any sort ?

      I am sure that this information would be most welcome on this forum should these people care to supply it. Should they not supply it however one could only have the conclusion that they do not carry such.

  55. Road Warrior says:

    Interesting read. Apparently their accounts are overdue:

    http://www.companiesintheuk.co.uk/ltd/meyado-private-wealth-management

  56. smog says:

    CMA has now published its latest financial reports. As far as I can see they have taken a write-off admitting that they overpaid for the Meretec technology by about A$50M! Which essentially means that the whole Meretec thing is, in fact, worthless. So obviously Young and his co-shysters managed to do a smoke and mirrors trick on CMA as well.

  57. S McKenzie says:

    Dear Sir,

    I would be grateful as administrator of your Blog if you will remove a letter put on the 17th August addressed to the SFO.

    Yours faithfully

    S. McKenzie

  58. Golfer says:

    does any one know if SFPlant has concluded the investigation.

  59. Golfer says:

    Is Mark Everitt still in with Meyado/Meretec????? He is probabaly the same Mark Everitt that worked with Martin as an Estate Agent in Milton Keynes back in the late 80s and tried his hand with Meyado back in 92 but failed to stay on.

  60. grieved says:

    Hi Smog

    I am being taken to court by Martin Young and Mark Paine for defamation of character as I expressed what they really are.

    They fleeced my wife and I out of all our savings and I’m not letting the matter rest. We are both disabled and they will have to arrange an ambulance to take us to court as my wife is very bad after a brain operation. She had a setback when she found out what these two have done. She was very friendly with Martin’s mother Pearl who advised her to invest with Martin as she said he would look after us. Well he certainly did that, running off to Singapore with all our savings. They are sick wicked and cruel to do that to us, how low can they get is anyone’s guess.

    I was wondering if you and some of your contributors to your Blog would like to be in court when they give me a date. I have lost touch with my two lawyers in London so I will be defending myself. I have been in touch with all regulators and in the process of getting my MP involved as he has access to the justice secretary and other well known bodies such as the city of London police SFO and various others. I have contacted Max Clifford to get them maximum publicity which should please them.

    I am hoping that you will be in court if it does get to that stage, perhaps you will contact me on my e-mail address and discuss this matter.

    Kind regard

    A fan

  61. DreamWeaver says:

    Grieved,

    I have contacted the Financial Regulator of the country that Meyado did business with me. Needless to say that neither Meyado, Mark Paine, or Martin Young were regulated. They informed me if I brought forward a charge the individuals involved would be fined up to a bit over the equivalent of 1 million dollars.

    Drop me a line if this will help your case in any way. I don’t mind pushing ahead with the case against Meyado.

    Regards,
    DreamWeaver.

    • steve mckenzie says:

      Hi Dream Weaver

      Many thanks for offer of assistance; you are welcome to pursue action against Meyado Martin Young and Mark Paine as these two should be locked up for life.

      I am still waiting or a date to be taken to court and can’t wait as your input is very useful for my portfolio and I hope others will also make a contribution so that I will have a strong defence against these two.

      Agrieved

  62. graham brown says:

    MEYADO
    PRIVATE WEALTH MANAGEMENT
    Rafael Cerezo
    Castillo de Ponferrada 103
    Urb. Villafranca del Castillo
    Villanueva de la Canada
    28692 Madrid
    SPAIN
    13th January 2011
    Dear Mr Cerezo,
    Further to our letter of 18th March 2010 we write to advise you of a number of
    developments in the company.
    First and foremost, as a preliminary update, the company has had a reasonably successful
    year, as per the forecast mentioned in our letter of 18th March 2010, and the Directors
    announced an interim dividend of 14p per share at the Board Meeting on Decem ber 15th
    2010. This will be payable on 15th February 20ll so please advise how you would like to
    receive this dividend before this date.
    Secondly, the company is intending to raise further capital to grow from its now reduced
    but profitable base in the UK market. The company will accomplish this by authorising
    and issuing Class B non-voting preference shares (see next paragraph) and special
    resolutions and new Articles of Association and Memorandum will be adopted to permit
    this. As an existing shareholder you are entitled to subscribe for the new shares within
    the next fourteen days should you so wish. Please contact me if you would like to
    subscribe.
    Please note that the interim dividend mentioned has been declared now so our wish to
    raise additional growth capital will not dilute any potential dividends that you would have
    received. We feel that this is the fairest way to deal with the matter for both new and
    existing shareholders. We will write to you again in March 2011, as we promised last
    year, regarding an AV offer should you decide to avail yourself of liquidity at that time.
    J~~~. ‘-:l.A.G. Brown
    Director
    o Meyado Private Wealth Management Pte. lid.
    32 Pekin Street
    #03-01
    Singapore
    048762
    Tet: +65 6538 3583
    Fax: +65 6538 3234
    o Meyado Private Wealth Management Ltd.
    Mainzer LandstraBe 16
    60325
    Frankfurt
    Germany
    Q~ado Pnvate Wealth Management Ltd
    23 Bernetey Square
    Mayfair
    London
    W1J 6HE
    United Kingdom
    Tet: +44 20 3178 7700
    Fax: ‘144 20 7665 6650
    For further information visit:
    http://www.meyado.com
    e-mail: info@meyado.com
    Registered in Germany No. B37974 Registered in England No. 2289023
    AUlhO/ised and legulaled by the Financial Services Authority Registration Number 442632
    Hegulated by the Monetary AU!honty of Singapore Ucence 1<:0. FA 1000013

  63. smog says:

    I see that another Meretec page has appeared on the web, apparently has a sort of self-justification by the directors involved, although it is anonymous. I have also received a message to call SF Plant (the administrators) which I will do in the next 24 hours or so. Watch this space for updates (although I doubt that there will be any good news). I also note this announcement (PDF) from SF Plant in the London Gazette, which I didn’t notice at the time.

  64. Sand Man says:

    I too have been contacted by SFP. Apparently the Financial Services Authority in the U.K. is investigating Meyado and would like to speak to a few investors. Someone from the SFA will be contacting me shortly. I will report back with the outcome of the conversation.

  65. steve mckenzie says:

    Smog and Sandman

    May I wish you all the best with the FSA as I have written to Lord Turner, Tim Smith David Cameron and other parties to have Mark Paine and Martin Young investigated?

    I understand that Natalie Ceeney David Hartnett and Lesley Strathie are also doing there own investigations and will keep you informed as and when I get further information about this.

    Hope to read the outcome of your meetings.

    I can put a letter on your blog if you wish to read it.

    agrieved

  66. disgruntled says:

    Hi all, very interesting read for me as a Meyado and Meretec investor. While I am prepared to kiss the Meretec investment goodbye, I was a bit surprised to see some negatives comments re Skandia. I thought they were legit so let that fund run. Should I reconsider? Are they in bed with Meyado? I am disappointed with the fund performances but put that down to the economic environment over the last few years.

  67. smog says:

    I don’t think Skandia are non-legit, but the problem is that the funds themselves take a management fee, then Skandia takes a fee, and Meyado takes a fee. So you’re almost never going to do anything like as well as just investing directly in ETF index-trackers, for example.

  68. emma says:

    Dear Sir/Madam

    Thank you for your communication. Is it a situation that you feel you need to report to the Serious Fraud Office?

    The key factors we consider before taking on a case:
    • Does the value of the alleged fraud exceed £1 million?
    • Is there a significant international dimension?
    • Is the case likely to be of widespread public concern?
    • Does the case require highly specialised knowledge, e.g. of financial markets?
    • Is there a need to use the SFO’s special powers, such as Section 2 of the Criminal Justice Act?
    Serious and Complex: what do we look for?
    In addition to the above criteria we look for factors such as:
    Is it Serious?
    • Whether the fraud will impact on the integrity of the financial market
    • Whether there is a wider group than shareholders or creditors who have lost money as a result of the alleged fraud
    • Whether the fraudsters have targeted financial institutions and government (local or central) or other public serving authorities
    Is it Complex?
    • Whether the case involves multiple countries
    • Whether the evidential material to be obtained during the course of the investigation will be found in multiple locations (within the UK or in other countries)
    • Whether the case involves multiple and complex financial transactions – e.g. involving many companies, accounts, Trusts and countries
    • Whether the investigation will need to involve a large accountancy analysis
    If your case of fraud fits the above criteria then please submit as much information as possible, in total confidence, at:
    https://report.sfo.gov.uk/providing-information-to-the-sfo.aspx
    Kind regards
    Veena Mapara | Press Officer | Serious Fraud Office | Elm House | 10 – 16 Elm St | London | WC1X 0BJ | 0207 084 4558

  69. Golfer says:

    Hi Smog,

    Thank you for posting the Meretec page. It did make interesting reading. It should be noted by all that not once does it mention what was taken by Mr Young and Crew in terms of salary, bonuses and share sales.

    Martin Edward Young. Please be so kind and post this information.

  70. emma reece says:

    Hi All

    You didn’t think for a second that Young or Paine would put such information on your blog as to what they took out of the “tills” of Meyado. Come on guys let someone find out and post it on your blog.

    It would be like telling you how much they made fleecing investors like yourselves.

    Taxman

  71. richard preston says:

    Hi Emma

    I take it you have been conned by Martin Young and Mark Paine and put a comment on this blog. Just like all the other people who put their comments on here.

    I am of the understanding that these two are being investigated by the FSA and the British Government so their actions must be quite serious. Their photos have been distributed around Whitehall, Metropolitan Police and the Royal Family to name a few places.

    May I ask everyone who reads this site write to the FSA and David Cameron about Martin Young and Mark Paine as it appears that there is a great deal of resentment about them from what I am reading.

    A Victim

  72. smog says:

    Slightly slow to notice this, sorry, but I see that CMA is about to do an 8 for 1 rights issue (at A$0.01 per share) to raise A$77.5M (and then a 40 for one share consolidation to get the share price up to a sensible level). So that dilutes the value of Meretec’s shareholding (should it still hold it) by a factor of 8 since there’s no money to buy into the rights offer. I guess we knew that the CMA shares were worth next to nothing, but this just confirms it.

    Notice of meeting on 17th August: http://www.asx.net.au/asxpdf/20110718/pdf/41ztnj8lwnf4q0.pdf

    Prospectus: http://www.asx.net.au/asxpdf/20110718/pdf/41ztpkvhnckfsn.pdf

  73. agrieved says:

    Hi Smog and other parties on this site

    I have been advised to write to the Monetary Authority in Singapore mas.gov.sg so if any of your other readers would also like to do the same.

    My complaint against Martin Edward Young and Mark Gerald Paine has gone to the Metropolitan Police, the City of London Police and HM Treasury so been busy.

    I would request that all readers of your blog write to

    Detective Chief Superintendent Steve Head
    Head of Economic Crime Directorate
    City of London Police
    P.O. Box 36451
    London
    EC2M 4WN

    Mark Paine got married at the address below so writing to the priest who will forward my complaint to his parents but I will be going there to discuss at length Mark Paine’s standing. You are welcome to forward your opinions.
    St Barnabas Church
    Waterloo Road
    Leighton Buzzard
    Bedfordfordshire
    LU7 2NS

  74. agrieved says:

    Detective Chief Superintendent Steve Head
    Head of Economic Crime Directorate
    City of London Police
    P.O. Box 36451
    London
    EC2M 4WN

    Dear Det. Chief Super. Head

    I am reporting Martin Edward Young and Mark Gerald Paine as being two ruthless sick notorious International fraudsters as they set up a company named Meyado and fleeced investors out of their hard earned savings using the following scams.

    Velocity Fund
    Catalyst Fund
    Cottonwood
    New Star Hedge Fund
    MITL IPO
    SASC Ltd

    They have run off to Singapore with all our savings and other clients and they don’t care who they con. They are just a pair of rogues, villain’s reprobate’s profligates however much you dress them up they just boil down to a pair of common thieves. They make George Abrue look like a petty thief as the money they have taken is in the tens of millions from investors in America, Europe and the Far East and are still active. They are just plain evil motivated by sheer greed and avarice taking money from gullible investors as they don’t believe in work, just funding their high lifestyles from people’s hard earned savings.

    As you will see from the FSA website Meyado are not allowed to hold clients money as these two profligates have left the company an empty shell.

    When an operation I had went badly wrong I could not look after myself so was institutionalized and part of the conditions were that I attend a work centre and was paid 50p a week and had to pay 25p a week for meals so my wife and I had 50p between us a week to save and these two reprobates have run off with the lot. How sick is that I will let you draw your own conclusion. It is utterly sick and despicable what they have done as the work we did was laborious and mundane but we never complained. They fund their lifestyles by fleecing people out of their hard earned savings.

    My MP Iain Stewart is helping us try and get something back. I had a letter from a DI Amanda Lowe who has failed to impress me as I feel that due to severe bad health she should make an effort to come and see us.

    My wife is waiting for another brain operation as her condition is deteriorating when she found out what these two rogues have done to us. Leaving us without a penny and nothing to live for, my wife tried taking an overdose but didn’t succeed.

    I have quite a bit of correspondence from Meyado and completely baffled regarding the FSA letter which states that we were never clients of theirs which is odd as I dealt with them in two offices in Milton Keynes and one in Berkeley Square, London W1

    Martin Young and Mark Paine are taking us to court for defamation of character but I am entitled to my opinion as to what they are so I doubt it very much if this will ever happen and my wife and I are extremely disappointed as we have walked past these courts and would really like to see inside gracing this magnificent building with our presence. When you see them please thank them for ruining our lives.

    I hope you will be able to help my wife and I and I will probably see my MP again as he is extremely nice and efficient.

    They should be brought before the House of Commons Treasury Select committee and there should be a warning to other potential investors not to get involved with these two notorious fraudsters.

    Yours sincerely

    S. McKenzie

  75. Old Mutual says:

    I have sent this on to the powers that be at Royal Skandia and Old Mutual

    To whom it may concern,

    One of the funds that Royal Skandia markets is a fund called Royal Skandia Meyado Euro Velocity EUR. Despite the extremely poor performance of this fund I would like to bring to your attention the questionable business ethics of the Meyado Group as can be seen in this blog:

  76. Also agrieved says:

    Hello,

    I was glad I found this website as I also lost some substantial savings through Meyado and Meretec. I’m sorry to hear that the same has happened to others and even more sorry to hear there are suspicious circumstances; I did feel there was something wrong at the time it all went pear shaped but was unsure who to turn to. I hope something comes from all these endeavours.

    As an aside, and the reason I write, I notice that Meyado-Singapore can be found on the social networking site Facebook

    http://www.facebook.com/people/Meyado-Singapore/100001120428080

    And from there there are links to the friends of Meyado, two of whom are Martin Young and Mark Paine.Not sure how this helps anyone or what to do with, but I was wondering at the very least if it could be used to warn other peoples so they at the very least have all the information.

    Regards and keep up communicating all,

  77. agrieved says:

    All clients who have been conned by Martin Edward Young and Mark Gerald Paine please get in touch with ======

    Detective Chief Superintendent Steve Head
    Head of Economic Crime Directorate
    City of London Police
    P.O. Box 36451
    London
    EC2M 4WN

  78. smog says:

    Given that many of us are in other parts of the world from which snail mail might take a while, do you happen to have an email address or fax number for DCS Head?

    • P Motion says:

      Has Det. Head been made aware of the situation?

      • Darren and Jo says:

        I have just e mailed DCS Head. Hopefully he will reply and let me know what is happening and if I can assist. I am now back in the UK so it would be easy for me to meet him and discuss this further.
        Darren

  79. agrieved says:

    DCS Steve Head can be contacted on

    nfd@cityoflondonpolice.pnn.police.uk

  80. agrieved says:

    Detective Chief Superintendent Steve Head is investigating Martin Edward Young and Mark Gerald Paine and would like to hear from clients who have been conned out of their savings by these two.

  81. agrieved says:

    Severale-mail addresses for city of london police

    nfd@cityoflondon.pnn.police.uk
    nfib,police.uk
    cityoflondon.police.uk
    21 New Street
    London
    EC2M 4TP
    tel 020 7601 2222

  82. agrieved says:

    Hope this helps, they can be found on their website although i have had responses directly from DCS Steve Head

  83. Sand Man says:

    Could you post the email address of MP Iain Stewart ?

  84. agrieved says:

    Hi Sand Man, sending you e-mail address of Iain Stewart who is assisting with these two reprobates.

    iain.stewart.mp@parliament.uk,

  85. Steve McKenzie says:

    e-mail address for people fleeced by Martin Young and Mark Paine please contact =======

    National Fraud Desk | City of London Police
    t. 020 7601 6746 | e. lisa.campbell@cityoflondon.pnn.police.uk

    web. http://www.nfib.police.uk / http://www.cityoflondon.police,uk

  86. agrieved says:

    Hi Everyone

    You will all be pleased to hear that Martin Young and Mark Paine are being investigated by Detective Chief Superintendent Steve Head and Detective Sergeant Lisa Campbell, DS Amanda Lowe and Detective Superintendent Bob Wishart so the net is closing on these two International fraudsters.

    I am in touch with them and have my local police assisting so things are happening thanks to my persistence. I am hoping to get them brought before the House of Commons Treasury Select Committee as a letter I wrote went to HM Treasury where I’m hoping that the Attorney General Dominic Grieve and Solicitor General Edward Garnier will bring these two notorious fraudsters brought to justice neutered and thrown in the Tower of London for life.

    They have asked for their parents names who are Brian and Pearl Young and I have a photo of them. I also have a photo of Mark Paine’s parents taken at his wedding on June 2nd 2002 so hoping to get these onto the media in due course.

    It appears that they are still active in Singapore so if everyone writes to the
    Monetary Authority in Singapore to make a complaint
    ~ Here is their address.

    Monetary Authority Singapore
    10 Shenton Way
    MAS Building
    Singapore
    http://www.mas.gov.sg

    Please do not hesitate to ask any questions as I can give any answers or can get them.

    Regards to all victims.

    Steve McKenzie

  87. smog says:

    Steve,

    I have to say that I admire your persistence, and feel rather ashamed at my own lack of action (beyond hosting this blog). I have no idea why the Singaporean authorities are tolerating Meyado’s activities after they were run out of Hong Kong (a generally more lax regime) by the SFC.

  88. agrieved says:

    Thanks for comments Smog these two notorious fraudsters think that because my wife and I are disabled they thought we were an easy target for them to fleece us out of all our savings.Dont be ashamed as I always fight to the end to get a conclusion and doing this for my wife who is on the waiting list for another brain operation thanks to these fraudsters, as she suffered a setback when she found out that Martin Young and Mark Paine ran off with all our savings. We only got 50p a week in a work centre and these two have taken the lot, how sick is that you will have to draw your own conclusions.

    I have my education to fall back on and enlisted the assistance of my MP and police local and City of London whom I’m in touch with, that’s why I know all these people listed in my letter.

    I am also getting help from my local police as we are not able to do much because of our health but I’m brilliant at writing letters as I let my imagination run wild and get results. They want to know everything about them, Brian and Pearl Young parents and Susan Young the twin sister. As for Mark Paine they are going to trace his family down.

    If anyone can get anything done about these two it will be me as I know the ropes. I had the police over three times for statements and information about Martin Young and Mark Paine and have photos which are already posted around Whitehall so hoping the Attorney General and Solicitor General will bring them to justice, neutered and thrown in jail for life.

    I think the Justice Secretary should also have a say as these two reprobates make George Abrue and Edward Davenport look like petty thieves.

    I don’t suppose you will not want to pop in for dinner as it will be testicle sandwiches. Even if I don’t get my money back at least I will get justice.

    May I ask you and all other victims write to the MAS in Singapore as to why the Singaporeans put up with notorious fraudsters such as Martin Edward Young and Mark Gerald Paine.

    All the best

    Steve

  89. Sand Man says:

    Thank you for your efforts Steve. I also wrote to the National Fraud desk and they said they are investigating. Will write to Singapore as well.

  90. agrieved says:

    Hi Sandman

    I am a real persistent character as everyone here knows, once I get my claws in I never let go. So you will be pleased to know that I’m on your side. I have the police coming to see me again this week for more details and I have quite a few to give them. I am doing this for my wife who is suffering extremely bad side effects and badly needs a further brain operation.

    My wife and I were very friendly with Martin Young’s parents and cant work out how they created such a monster but it just shows that you never know how one’s offspring will turn out. I’m hoping that Martin’s twin sister Susan isn’t involved as they want to speak to her. She worked for Meyado for 13 years so will know quite a lot.

    Will keep you informed of any progress I hear from my MP and DCS Steve Head who is going to send an in depth report of these two notorious fraudsters. Should make interesting reading I would think.

    I am also sending letters to the MAS in Singapore from myself and DCS Steve Head so will see what happens.

    Steve

  91. Beelzebub says:

    If you can get any form of criminal conviction for your case against Meyado International Ltd or its Directors then you can force Royal Skandia to drop them. This would mean that any and all trail commissions, management fees ect would also be lost to Meyado. Millions.

  92. agrieved says:

    Thanks for comments Beelzebub; situation is well and truly under control and pursuing Young and Paine. The City of London police are doing an in depth investigation into the criminal dealings with these two so hoping for a very long custodial sentences without parole.

    I think the SFO has also been informed by some one so waiting to see what happens. These two have become Britain’s most notorious fraudsters and make Abrue and Davenport look like petty criminals.

  93. agrieved says:

    Hi Sandman

    Have been informed that the City of London police have been in touch with SF Plant who is trying to establish the sinister criminal activities of Martin Edward Young and Mark Gerald Paine.

    Have informed them that they used the following scams to fleece people out of their hard earned savings.
    Velocity Fund
    Catalyst Fund
    Cottonwood
    New Star Hedge Fund
    MITL IPO renamed Meretec
    SASC Ltd

    They nearly died laughing when they saw that Young and Paine were taking us to court as they would have to arrange an ambulance for us.

    I have two lawyers in London who I think have retired, one is a leading QC and the other is a consultant to the Law Lords so I have mixed with some good people. My wife and I have entertained a Prime Minister and dined in the House of Commons so had an interesting life until we met Young and Paine. they have ruined our lives but will get their come uppance one day

    May I again appeal to all victims of these two notorious fraudsters write to the MAS Singapore and the City of London police.

    Many thanks

    Steve.

  94. Golfer says:

    Hi Folks,

    I have just been looking at this.

    http://www.martinyoung.net/more_info

    For those reading this site I think that this sums up so well the people involved. After all who would not want to be awarded the King Richard the lionheart sword.

  95. Road Warrior says:

    Hmm … http://www.martinyoung.net …. quite an interesting read …

    Some very impressive titles, appointments, career highlights, but no actual dates, company names etc. to back the facts up.

    The Royal and Blues have never heard of Mr. Young, which does not take many clicks on the net to confirm.

  96. Golfer says:

    I see that Mr. Young is also CEO of the following firms. I would suggest to Mr. Young however that he may wish to flesh out a little more detail on both operations as the websites say so very little.

    http://www.corsairvcm.com
    http://www.sabreinvestmentsgroup.com

  97. Enforcer says:

    Hi Sandman

    Happy new year to all fraud victims of Martin Young and Mark Paine and a happy new year to these two thieves… They must surely be akin to two male prostitutes living off other people’s hard earned savings.

    Let us hope these two fraudsters are caught and made to pay for
    ruining the lives of innocent people.

    They are being investigated by the following officers
    DCS Steve Head, Det. Sergeant David Robertson, Det.Inspector Amanda Lowe,Det. Superintendent Robert Wishart so quite a few investigating these two fraudsters. They make Edward Davenport, George Abrue and Nasil Adir look like petty thieves.

    Can you and all others write to the following about what these two are?

    Simon Walker
    Director General
    Institute of Directors
    116 Pall Mall
    London
    SW1Y 5ED

  98. agrieved says:

    Another detective to contact is detective sergeant lara xenoudakis

    lara.xenoudakis@cityoflondon.pnn.police.uk

    tel 020 7601 6999

  99. Beelzebub says:

    It would seem that there is a number of Law enforcement looking at this issue.

    Are there any up-dates to what might be happening.

  100. agrieved says:

    Yes Beelzebub

    Quite a few detectives from the fraud squad are investigating Mark Paine and Martin Young for questionable dealings with investors. Where did all the investors monies go is something they are investigating.

    Wouldn’t surprise me if the whole of the fraud squad are involved to unravel the sinister way which Young and Paine left Meyado an empty shell.

    Royal Skandia is also being investigated about Meyado so things are happening and Young and Paine should be looking over their shoulder from now on.

    Agrieved

  101. emma reece says:

    The Isle of Man police is investigating Royal Skandia with regards to dealings with Martin Young and Mark Paine as money has gone missing. Will update when I get more information.

    a victim

    • Ubique says:

      You should bring this to the attention of the Insurance and Pensions Authority which is the FSA of the Isle of Man.
      Francesca Minay

      Head of Supervision – Life Assurance and Pensions
      Insurance and Pensions Authority
      4th Floor, HSBC House
      Ridgeway Street
      DOUGLAS
      Isle of Man
      IM1 1ER
      British Isles

      Tel: +44 (0) 1624 646000
      Fax:+44 (0) 1624 646001

      francesca.minay@ipa.gov.im

    • Beelzebub says:

      Hi Emma

      Any idea what if anything SF Plant reported and has anyone been able to see Meretecs books

  102. emma reece says:

    No idea waiting to hear from police will update when information is available

    • steve says:

      Hi All

      I too am waiting for police to assist with investigation into Paine and Young.It appears that they are using Royal Skandia to laundry money.

  103. Beelzebub says:

    I note that it states clearly on the web site, Meretec.com, under Funding that Meretec had no formal ties to independent financial advisors. I was under the impresion that Martin Young was not only the CEO of Meretec but was also in charge (at least in some scope)of Meyado as well as the Catalyst fund.

    Did any one sign an experienced investor waiver with Meyado ?

    • Golfer says:

      Or Royal Skandia (Personal Portfolio Bond Dept).

      • overlord says:

        Come on guys Young and Paine were only out to fleece investors, they were not financial advisors. They didn’t even know that there are four markets on the London Stock Exchange and don’t know the difference between a share and a bond. However they have done well out of their criminal activities and who says crime doesn’t pay?
        He is quite a prolific thief is our Mark, conning me out of my savings. I nearly lost my home because of his investment advice.
        The person who sold the investments was Mark Paine. Do you know him? Apparently he is working in their Singapore office now but was in Dubai before. This guy has to be the worst financial advisor in the history of the profession. Up In the late 1990′s he was advising everyone to be in the riskiest possible assets. Then on Oct 7, 2002 (at the bottom of the bear market) he sends an email to all his clients to sell equities because their portfolio’s are subject to what he termed “Market Risk”. Do you know Mark Paine? It would help me if I knew what qualifications people are meant to have who work with Meyado. I believe the product was sold in Madrid.

        • Road Warrior says:

          I knew Mark Paine. I cannot remember his qualifications, but I’m pretty sure he’d neve achieved any financial qualifications. I believe he did work as an estate agent in the Milton Keynes area prior to moving to Meyado in Frankfurt in 1992/93.
          You do not require any qualifications to work for Meyado. All you need is selling experience and to worship Martin Young day and night. The first couple of weeks with Meyado, you’re tought how to find possible clients and how to sell their (Sandic) products.
          I believe that Mark Paine lives in Singapore at the moment. I’m not sure about Martin Young. Golfer seems to have more details.

  104. warhorse says:

    I know Mark Paine. He is currently MD of Meyado in Singapore. He has neither financial qualification nor any other qualification of any sort although he will make you believe that he has.

    He did the same dirty trick to me bringing his kids to my home to mask his underlying intent to fleece me out of my hard earned savings and I too nearly lost my house with his advice. He is quite a devious character is Mark Paine and I’d like to warn others not to go near him as I don’t know what institution he escaped from but he is ruthless and evil. Hopefully he will be recaptured and locked up and given appropriate medicine for his condition.

    He has been trained to fleece clients by his partner in crime Martin Young who has become Britain’s most ruthless notorious fraudster.

    Mark Paine wants to thank all of his victims for funding his holidays to Florida, Thailand, Spain and Britain. He is very pleased with victims funding his lifestyle and has shown no remorse.

    The only way Young and Paine can add to their wealth is robbing people out of their savings.

    • emma says:

      Hi Warhorse

      Mark Paine and wife Natasha, kids Charlotte, Elizabeth and Mathew who are all implicated in his scams of conning people out of their savings and homes are just common thieves. Taking his kids to client’s homes is not a good idea but this is how sick this creature is. It must be an Irish catholic genetic defective gene that makes Mark Paine a prolific thief and now he is teaching his family.

      Then there is his partner Martin Young whom I am in the process of finding out about so that I can put his status on your blog. It is proving difficult as he is an extremely elusive character, so if anyone can help I would be grateful for any information.

      • agrieved says:

        Hi Emma

        You should try Steve as he and his wife were very friendly with Martin’s mother going to her house. He knows all Martin’s family from parent’s sibling and his family. He gets on this site occasionally as he looks after his wife who is disabled.

        Young and Payne stole all their savings that is how low and sick they are. They were taking this couple to court but as they couldn’t arrange an ambulance it was dropped. This couple are both disabled and in poor health and Payne and Young took advantage of them.

        Hope they can help you build a picture of what you are looking for. Thanks for information of Mark Payne and hope everyone gives him a wide berth.

  105. smog says:

    Folks, I’ve been a bit remiss here in taking my eye off the ball, but something extraordinary has gone on in the work of Google – a year or two ago if you Googled “Meyado Martin Young” you got links to several sites detailing the activities of this shyster. But now it seems that he has spent some serious money on Search Engine Optimisation. This blog entry doesn’t appear at all, and there are only about 3 negative links in 17 pages (yes that’s 170 links) of search results. Nearly all of these results are pure fluff obviously put there by people paid to manipulate Google. I’m not sure what, if anything we can do about it. Has anyone heard anything from the SFO or SF Plant recently?

    • Mike Goodall says:

      An alternate to this blog is to:
      a. Write a google review on the Meyado website; and
      b. Write comments on the Meyado facebook page

  106. emma reece says:

    Martin Young is the world’s most notorious thief since Robert Maxwell and a great grandfather William Brodie.

    He has fleeced money from people in four continents, America, Europe, Asia, and Australia to fund his lifestyle as he does not believe in work.

    He has a partner, Mark Payne who is his puppet, and ferret that weasels out potential victims to fleece.

    There greatest coup was to con a disabled woman out of her 25p a week
    earnings which she got in a workhouse. This is just how sick Young and Payne are, brings a whole new meaning to what they are.

    Young is married to Lotte and they have four sproggs Guy, twins Eva and Ingrid then youngest Elizabeth.

    Hope someone can add a bit more about these two morons although letters have been circulated to financial advisers and fund managers to beware of these two.

    I am not aware of any more from SF Plant.

  107. Mike Goodall says:

    I see the Royal Skandia Meyado Velocity USD is cumulatively down 24.80% over 10 years versus a 79.6% return for the index (Stoxx Europe 50). That’s over a 100% difference over 10 years.

    If ever there was a public demonstration on the financial prowess of Martin Young, this is it.

    Shame on you Royal Skandia for still putting your name to this fund.

    http://www.londonstockexchange.com/exchange/prices-and-markets/funds/company-summary.html?countryId=UK&fundId=945372

    https://www.spdrs.com/product/fund.seam?ticker=feu

    • a cat with curiosity says:

      So this mark everitt fellow….was he blonde and around 6′ 3″….and around 25 years old in 1990

  108. Martin says:

    My name is also Martin Young and I work as a financial advisor. Can I just make very very clear that the Martin Young who works for Farringdon is NOT the same Martin Young who is the CEO of Meyado. This name association has caused me no end of trouble.

  109. Peter says:

    I have found him and he is working in Farringdon!!! Blighter 🙂

  110. smithy says:

    The Farringdon Group Martin Young is a good guy. This article relates to the Meyado Martin Young, two completely different people!

    • John says:

      Correct, the Martin this blog is about has never worked at Farringdon. Completely different people and a little unfair on the one not fleecing people.

      • lucy worsley says:

        Martin Edward Young and Mark Gerald Paine directors of Meyado Private Wealth Management are two freaks of nature and the dregs of society. Neither of them has achieved qualifications in investments but they still call themselves financial advisers.

        What they did to a very good friend of mine beggars belief as they plundered pillaged stripped and raped he out of all her hard earned cash leaving her with nothing, they even cashed in her pension savings plan.

        That was callous heartless and probably the most depraved vile act that Paine and Young have ever committed to a disabled woman who has to be washed, dressed and fed. out of all her hard earned cash which she earned in a work house working her fingers to the bone. Only Martin Young and Mark Paine directors of Meyado are capable of carrying out this grotesque and heinous hate crime.

        When she found out what Young and Paine did she took an overdose as she could not live with the shame, humiliation and hurt brought on to her and her family.

        Everyone feels for the Martin Young at Farringdon having the same name, must make one feel like changing your name.

        • Mike Goodall says:

          Lucy,

          out of all the people on this blog what happened to your friend is the saddest story. Would you be willing to create a change.org petition to tell your friends story with the objective that Martin Young and Mark Paine are prohibited from selling financial services products in the future and are prohibited from remaining company directors. The petition would need to be addressed to the Monetary Authority of Singapore (Financial Services Regulator of Singapore), the Financial Services Authority (UK FSA), and the Companies House (UK).

          I am sure you can get plenty of support drafting the petition here.

  111. Hi Mike

    Great idea but will it work as I believe these two have been reported to these institutions before and nothing became of it.

    Would be grateful if you can set up the petition as I’m not very au fait with this and I will be the first to sign it.

  112. Goodbye says:

    The sad sorry tale of Meretec, complete with final insolvency, is found here:

    https://beta.companieshouse.gov.uk/company/03659285/filing-history?page=1

    Interesting reading
    If you were an investor read with a box of tissues.

  113. lucy worsley says:

    Well folks at least you were all fleeced by two of Britain’s best and most notorious fraudsters in Martin Young and Mark Paine.

    Victim’s friend

  114. Advisor says:

    I will tell you the story by another point of view. I have worked for Meyado in Singapore. maybe 9 months.
    I met Mark Paine in Windsor and he promise me some nice salary at the begining in singapore and he was telling me I would make a lot of money working with them.
    When I moved to Singapore I realised all was a cheat, they dindt pay any salary, everything was orientated in getting savings plan with huge upfront comissions for the client that has to committed as much as 25 years.
    The ceo in the office in Singapore is a very weird character called Peter, sometimes it can be confused by Mr Bean, but below his happy character its a totally person without any kind of compassion or good feelings for the clients and for the employees.
    They are so stingy and dodgy that when I left the company they didnt pay the my last deal (maybe 3000 sgd) and also they charged me the bottle of champagne they present me (as a gift) when I did my first deal.
    Summing up, dont deal with them as a client but also never never go to work with them.
    Pd: The MOM should investigate them their accountancy and how they are paying the advisors, maybe they will find big surprises.

  115. Beelzebub says:

    Yes indeed. It really is all about commissions. So called financial advisers around the world still thrive on huge up front commission.

    If a financial adviser sells you an Isle of Man savings plan (regular savings) then the commission can be up to one years premiums. It doesn’t stop there however, they can also put in a fund advisor fee of 1% pa of the account value……lovely.

    If you plan to work for any financial advice firm that does not work on direct fees only you better get used to the idea you will be ripping people off.

    For potential clients dealing with such firms around the world my only advice is DONT. How do I know. Simple I have been in the industry for for 25 years and have made myself filthy rich from it…retired now. Nice.

    • kim knight says:

      Hi ALL

      So you have done extremely well for yourselves with commissions, didn’t you ever think of doing what Martin Young and Mark Paine did taking peoples capital as well? that is how they made themselves wealthy so you slipped up!
      I do feel extremely sorry for the investor who lost her home and family through the sheer greed of Young and Paine, last I heard she ended up penniless, destitute and begging on the streets. They even took the charity money for SIDS sudden infant death syndrome formerly known as cot death which left her very distressed and depressed. It is very difficult finding out what happened to her due to confidentially and privacy laws.
      What they did was a brutal and callous act and morally reprehensible and repugnant but is expected of these two

  116. Nick says:

    I first came across Martin Young during the early 90s while I was working for Deutsche Bank in Frankfurt.

    His partner in crime at the time was another Martin, but with Brown as a surname. Small guy who didn’t last long at Meyado as I recall.

    Martin was just another bit player as part of the large ex pat scene which was drawn to the city after the deregulation of the financial markets and the start up of the German Futures and Options market.

    I, like many others I guess at the time, signed onto one of his pension deals after a night on the beer. I realized after a short period of time that it was a crap product and thankfully pulled the plug on my investment.

    Martin was of course mortified that I had stopped my payments and was even prepared to make the monthly payments himself in order to avoid repaying any commission he had already claimed on my policy.

    At the time we hung out as part of a larger group of well off testosterone fuelled young men.

    I remember one anecdote which might amuse some of you and which in a way sums up his resourcefulness and cunning.

    He was living at the time out in a suburb of Frankfurt and didn’t know too many people around there.

    One day he read a notice outside the main Scandinavian church that was organising a social evening for some of the many Scandinavian au pairs that lived around the town.

    I guess he thought it might be fun to get involved so persuaded the church minister to let him host the soiree at his apartment giving all sorts of false pretenses that helped persuade the guilible church official to his good intentions.

    Martin to his credit had no idea if his scheme would work, but through word of mouth around 50 au pairs turned up to his place.

    He had laid on quite a bit of booze and needless to say the some of the girls got quite hammered especially as a lot of them wern’t used to drinking.

    A few days after the party Martin got a call from the church official who had heard from one of the families that their au pair had taken and lost a valuable necklace belonging to her host families.

    The necklace never showed up and the au pair was sent packing back to Sweeden in disgrace.

    The story didn’t end there as once she got home it transpired that this girl was the daughter of a diplomat who getting the whole story from his daughter, wrote to the Swedish PM to complain about his daughter’s treatment.

    The Swedish government made an official complaint to their German counterparts and needless to say there were red faces everywhere.

    There were aparently headlines in the Swedish press about their nation’s daughters being lured to some sex party where they were plied with drink and then persuaded to take part in all manner of lurid sex games.

    The German authorities attempted to find out what had happened but needless to say Martin had already skipped town and never had to face the music.

    This all happened a long time ago and I may have forgotten some of the more ex rated details that accompanied this international incident.

    It did make me chuckle at the time but having read many of the testimonies left by many of his other victims I guess it isn’t nearly so funny now.

    My modest Finexco pension finally matures next year and I will receive a small percentage back of what I ended up paying in.

    I guess I am one of the lucky ones.

    Nick

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