Join me in taking legal action against CCE directors.

A question about : Join me in taking legal action against CCE directors.

I am one of the unfortunate few who is down by a whopping Ј20,000. A significant amount, hard earned money I can ill afford to lose.

I am not going to settle for 10p in the pound back.

Reading all the news surrounding the collapse, there appears to be widespread deception and fraud committed here.

Why wasn't our money ring-fenced, why was there no insurance?

Not only is there an 18 million hole, they should have been regulated by the FSA for doing the volumes that they were, and we should all have been covered here by the FSCS/FSA.

I contacted the Serious Fraud Office today and they sent me some forms, but I want people to join me and share the costs of legal action against the directors, namely Peter Benstead and his wife.

Please post a reply here if you're willing to join me.

Kind regards to all.

Best answers:

• A group is already established on facebook with over 500 members - search for crown currency - you will find it.
  they have secured free legal advice from a top London firm who are in contact with the reeivers.
  They are getting as much publicity as possible and are lobbying MP's
  Please join if you haven't already.
  thanks to Jo and Tracy for the hard work.
• yeah i think the above is probably the best bet , rather than all branching off on our own
• everyone wants the same as you kevin_strong
  everyone is in the same boat
  its best to do what you are suggesting through the group which is already established with over 500 members ( after 2/3 days ) . Hopefully in the next week or two by spreading the word this will be well into the thousands as there are supposedly 13000+ affected. then the cost per person will be greatly reduced.
  kevin_strong email jo and tracy
  and yes thanks to Jo and Tracy for the hard work.
• Thanks folks, I had not come across the facebook page before I posted this.
  Thanks to Jo and Tracy.
• Can I ask when it was that I agreed to have my money gambled with?
  You seem to know a great deal about the contract that I have in front of me, so can you point out the bit I've missed? Because all I can find is a guaranteed end result.
• How so?
  Its a contract with a fixed outcome.
  If you'd like to explain where on the contract it says it doesn't constitute a contract, I'll be happy to take you on.
• Well said Glynd - these people who haven't lost out appear to think we who have invested are total idiots. My contract clearly states that '
  The Company will only enter into a Buy it Forward contract for the amount that it deems to be within the company's limits
• If it was gteed you would be getting your money, you may still do of course
• Chilled as.
  Though quoting me as saying things I haven't said doesn't really help you.
  I suggest a deep breath, then re-read the thread, and then take your time before claiming I said something I never said.
  It'll help your credibility as a peacemaker a bit more.
• Don't know too much about the legal process but if the authorities don't take legal action against those responsible are we able as a group to take some sort of civil action, and in such a case would the burden of proof be less than in criminal court?
• What do you expect to gain from action? If the company is bust then they have nothing to pay out. If they did have enough cash then they wouldn't have gone bust.
  I'm really upset for everyone who has lost out, but I can't see any favourable outcome for the customers who have lost out.
• you would probably need to take action indivdually I would expect as the UK doesnt allow class action. we are in a position that a company will not pay out what is due as per the law and unfortunately there are thousands of us but we cant take action collectively only individually
  A comment about them gambling with your cash, unfortunately thats what these type of companies do, they gamble on the future rate of the currency you are buying, they cant predict what it would be for sure so they gamble in the end they werent very good at it and didnt have the cash to pay out the rates quoted or make enough money to clear the amounts owed to you.
  There are experts who do this sort of thing for the banks evry day, hedging to ensure that they make the banks money, they get it wrong and unfortunately the people behind this company have got it so wrong and they werent even experts in it or dont appear to have been.
  Keep up the fight on this, lets hope the administrators are able to find some cash in amongst this mess and even trace missing cash if they can. Good luck all.