Compusource, anyone?

[Safe Collections]

Thanks for the info SC - makes me sick the lengths some people will go to to cover their own backsides while ripping off their customers Companies like this really give brollies a bad name - I just hope he gets his just deserts

Unfortunately we see this kind of thing all the time

It is imperative that all contractors (and in fact all businesses everywhere) can answer yes to the following three questions:

1. Do I know exactly who or what I am dealing with?
2. Can they pay me?
3. Will they pay me?

Unfortunately for creditors of Compusource it looks like the answer to all of the above is no...

[LisaContractorUmbrella]

OK so Compusource Ltd is a wholly owned subsidiary of a company called Paramount Properties (U.K.) Ltd, this company owns the single £1 share issued.

Paramount Properties (U.K.) Ltd has one director, a Mr Neil Stuart Cohen. Mr Cohen has five other directorships one of those is called Paramount Company Formations Ltd.

Paramount Company Formations Ltd is, as the name suggests, a business that charges a fee to set up a limited liability company. You can see more on the website here Paramount Company Formations | We Guarantee Quick, Efficient, Expert Advice

On of the services provided by Paramount Company Formations Ltd is that of a Nominee Shareholder. So for a nominal £99.00 fee it appears on Companies House records that it is a subsidiary of this company, when in fact it is not as the page here explains



So we have a non-trading company, with at least one nominee director (now ex-director) and nominee shareholder.

Whomever set up compusource certainly went to great lengths to keep their identity a secret. Edit to add: In a perfectly legal way of course...

Thanks for the info SC - makes me sick the lengths some people will go to to cover their own backsides while ripping off their customers Companies like this really give brollies a bad name - I just hope he gets his just deserts

[cojak]

Ah yes, the ex-Director. (I've just noticed your amendment SC )

[Safe Collections]

Can you figure out what the link is to the properties company? Surely there could be some sort of transferable liability?

OK so Compusource Ltd is a wholly owned subsidiary of a company called Paramount Properties (U.K.) Ltd, this company owns the single £1 share issued.

Paramount Properties (U.K.) Ltd has one director, a Mr Neil Stuart Cohen. Mr Cohen has five other directorships one of those is called Paramount Company Formations Ltd.

Paramount Company Formations Ltd is, as the name suggests, a business that charges a fee to set up a limited liability company. You can see more on the website here Paramount Company Formations | We Guarantee Quick, Efficient, Expert Advice

On of the services provided by Paramount Company Formations Ltd is that of a Nominee Shareholder. So for a nominal £99.00 fee it appears on Companies House records that it is a subsidiary of this company, when in fact it is not as the page here explains

Our nominee shareholder service offer is structured to keep your personal
information off the public record while ensuring full legality.

Therefore only by using our nominee shareholder service can your anonymity and confidentiality be ensured.

A specific contract will be put in place to confirm that the shares are held in trust on behalf of you the beneficiary.

So we have a non-trading company, with at least one nominee director (now ex-director) and nominee shareholder.

Whomever set up compusource certainly went to great lengths to keep their identity a secret. Edit to add: In a perfectly legal way of course...

[LisaContractorUmbrella]

As far as we can tell it appears to have been listed as a non-trading company for some time.

We suspect that unless the company is formally wound up and an insolvency practitioner put in that we may never know exactly what was going on here...

Edit: If you haven't yet thought about contacting the Police in this matter, it might be worth ringing Action Fraud to see if they can help first.

Can you figure out what the link is to the properties company? Surely there could be some sort of transferable liability?

[Safe Collections]

DueDil shows Compusource as non trading but it also shows it as part of a group structure with Paramount Properties Excelium showing as still trading but with NBV of -20k

As far as we can tell it appears to have been listed as a non-trading company for some time.

We suspect that unless the company is formally wound up and an insolvency practitioner put in that we may never know exactly what was going on here...

Edit: If you haven't yet thought about contacting the Police in this matter, it might be worth ringing Action Fraud to see if they can help first.

[LisaContractorUmbrella]

DueDil shows Compusource as non trading but it also shows it as part of a group structure with Paramount Properties Excelium showing as still trading but with NBV of -20k

[Safe Collections]

We have just spoken to a contractor who told us he had an arrangement with an agency, with compusource acting as a payroll company.

This contractor confirmed that as of the start of this month the bank accounts were still active, as his agency paid them £11k

Is it safe to assume no poster to this thread has received any payment since mid May?

[Safe Collections]

I spoke to the police this morning and passed on all the information I have on Ridgeon so hopefully we'll see some progress there.

Be sure to mention that you know of many others in the same situation (if you haven't already) In our experience the police will be reluctant to investigate company fraud of any type, unless a clear pattern can be illustrated.

Please do keep us updated.

[Contractor910]

I spoke to the police this morning and passed on all the information I have on Ridgeon so hopefully we'll see some progress there.