1. John Rogers
    February 2, 2019 @ 10:38 pm

    Pity about giving up script writing. I was thinking about taking up acting particularly roles where I get to fill the bad guys full of lead or spread each one evenly throughout the galaxy.
    With all of us that have been scammed, I’m sure that there will be lots of people wanting similar roles.If the so called regulatory authorities and justice departments can’t find the manpower, brainpower nor the will to tackle the problem, we can raise an army to do it.


  2. Stephen
    February 11, 2019 @ 10:09 am

    I can’t believe NBC actually said that … are they really that naive? But nevertheless, a good blog. However, portraying Reinert as a “good guy” is somewhat stretching credibility methinks. Reinert exposed TMAF because he had little choice – he was also a Director and a member of the Board. This is my interpretation of events.

    With another fund – The Symphony Fund, likewise a fund on the Nascent Platform and likewise with Reinert as a Board member of that fund, I would guess the TMAF Offer Supplement (“OS”), which I don’t have, states the same information as the Symphony OS – which I do have a copy.

    The latter states on the front page the Directors take responsibility for the information in the OS. Furthermore it claims the offer can only be made to “Qualifying Investors” and defines them as Sophisticated or Nigh net Worth and specifically excludes UK retail investors who are not Sophisticated or HNW. I imagine the TMAF OS states same and I would wager my pension the investors of TMAF were neither.

    I also have the Symphony fund “draft Audited Accounts” for 2014 – it’s only in draft and was never finished! On page 2 ( https://drive.google.com/open?id=1DhGTsPBISiqfdE46RyVD5tEOSAeV1PkM ) it states Director’s responsibilities are:-

    “to prepare financial statements of [The Nascent Fund and ] … the financial statements of [The Nascent Fund] are required to incorporate the financial statements of The Sub Fund …”

    I would guess the same thing applies with TMAF as it does with Symphony.

    It also states “The Directors are responsible for ensuring proper accounting records are kept …” and it goes on to describe “The Directors are responsible for safeguarding the assets of the Sub Fund …” etc. etc.

    So it seems Reinert had a direct responsibilities for the governance of the Sub-Funds in the Nascent platform – Symphony, TMAF and any others.

    If memory serves me right, Reinert wrote to TMAF investors after he had discovered “anomalies” in the investment management arising from the issuing of unsigned loan notes by investment manager, James Hadley – in other words Reinert failed, inter alia, in his duty of “ensuring proper accounting records” regarding TMAF.

    If Reinert was not to be seen as “complicit” in the scam the Nascent platform was facilitating, when the MFSA discovered the goings on at TMAF, then he had no choice but to come clean asap, and when he discovered the issues he shut TMAF down – suspended it really.

    When I wrote to the MFSA about The Symphony Fund in Feb 2017, that fund also was also “quietly” shut down and I was then offered £6000 to keep quiet by John Ferguson (Director of Square Mile International Financial s.r.o at the material time) and tell no one – not even the Police – read the Symphony tale here: https://write.as/scam-victim/clerical-errors and the BBC News article: https://www.bbc.co.uk/news/business-42776709

    I don’t think Reinert’s motives were to be a “hero” but simply covering his own arse!

    That NBC are so ignorant is surprising – maybe they should read some of the many blogs here describing the financial ruin of many people conned by these scumbags!


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