Transeco Reviews

Two years late in paying contracts

Two years late in paying contracts - no indication of when TGS refuse to inform of production rates even though Transeco promised to do so way back in November 2022 Yet they keep selling to new marks No contracts appear to have been redeemed that were issue post June 2020 yet they keep selling Between October 2022 and May 2023 they claim to have redeemed contracts N41 to N55 14 contracts in 8 months meanwhile hundreds were sold Police suspect a Fraud - and are awaiting additional evidence to be able to have sufficient to submit to CPS Join me and other creditors as we pursue our money See other review with contact details Report them to Action Fraud Provide your evidence emails text messages any recorded calls and your statement to the police More witnesses more weight of evidence It s no longer he said she said but he said and 100 they said

CVA is out

CVA is out - read it and weep Its insulting and full of lies Apparently we were kept updated by regular updates - this is utter BS Apparently commissions of 50 were being paid to TGS though we are meant to be impressed that this dropped to 27 On contracts sold for 3 years when they knew they had stopped paying out Its called FRAUD

Massive Loss

The CVA proposal was announced and it means if 70 of the creditors agree to it we will receive only 17 12p Yes that is pence for every 1 invested For myself it equates to a loss of 12449 00 What a terrible situation You take the risk you accept the loss However I see it that the Broker Gold Safe was selling the Forward Gold Contracts without providing all the information We did not know about frozen accounts in Holland or the stoppage of production due to Covid It was never mentioned until the redemption was due Devastating news and I feel deceived and tricked If your selling forward gold contracts in order to keep your company afloat and to pay off the contracts on redemption of earlier investors then it becomes a Ponsi Scheme If I could see the directors and Brokers in jail I would give up the remaining small amount I might receive from the CVA

To fellow Creditors

To fellow Creditors Yes I agree the CVA is terrible Now I know the timeline I am aggrieved at TGS because they kept selling long after Transeco were deep in trouble without telling us That said I m ready to give Transeco themselves a second chance There must be some formula by which I can keep my money in the company past the end of the CVA period I ve put that forward as a modification to the CVA and if you want to discuss the option then let me know here The aim is to allow each Creditor to pick either Option A take the 17 12 or Option B convert the debt they hold into a debenture It would mean waiting 6 or 7 years to get any returns I know I don t know all the financial legal terminology needed to draft something up though Can anyone help Thank you very much

Transeco fails

I received an email from Transeco on 9 11 24 with a pdf letter attached that explained what had gone wrong company no longer trading and there was now a Company Voluntary Agreement CVA in place that offers 17 12 pence for every 1 invested I recently received an annual review of my investment from The Gold Safe showing all was healthy and returns looked great There is something very wrong about how this situation has come about that needs investigating I understand there is a group of investors looking at how to respond to the CVA - is anyone able to provide contact details for the investor group

Message to all TransEco involved

Message to all TransEco involved creditors The flurry of calls from Gold Safe minions who apparently are helping clients is evidence that they fear losing The Protection offered by Going into Administration Dont believe The Lies V te No and seek legal redress from Directors Whatling and Co included

Is there a creditors contact group

Does anyone know of a creditors contact group to discuss this CVA offer It is so utterly pathetic that I am inclined to vote no and see the company liquidated and take my chances I believe we were falsely sold these Forward Purchase agreements by TGS who were complicit in what was essentially a Ponsi scheme with early purchasers getting payouts until the inevitable collapse of the inverted pyramid It was marketed as a forward purchase which has not delivered This company should not be allowed to go on trading 17 6p in 5 years time if you are lucky I don t think so