Brief Summary
Aspire Multi Syndicate from John Hughes offers high rates of return on horse racing win betting subject to your depositing funds with the business which then places bets collectively. Must allow service to bet on 55 days minimum to ensure they generate their minimum fee requirement. Proprietor appears to have run other services and claims made in marketing do not appear verifiable.
Genesis Systems is offered with very similar profit claims but from different location.
Our Review:
I make no apologies for repeating the warnings about these services which were first reported on other forums. My own investigations have led to the view that John Hughes is at best an incompetent buffoon and at worst a fraudster. The emails I have seen from people subscribing to this scam lead me firmly to the latter conclusion.
In essence it seems as though by offering high returns on relatively small sums – which are paid over to the control of Hughes – it was hoped that there would be no come back. If you lose £100 put it down to experience and don’t draw attention to the fact you were taken in. Well luckily some of the victims have not been too embarrassed to speak out and it seems that the sums involved collectively run into the tens of thousands.
There is some evidence to suggest that Hughes knew his scheme would not be approved by the FCA and so has taken artificial steps to overcome the technicalities. However, the FCA are investigating as are The Gambling Commission who really should be regulating this type of activity. It will probably be too late for the investors here but hopefully will save others following the same path. The police are involved via Action Fraud and hopefully Hughes will be prosecuted.
Just to be clear the offer of a monthly profit of £500 for a £100 investment should be treated with extreme scepticism if you are unlucky enough to receive one. If you have invested and not reported to Action Fraud please do so and quote Case Reference NFR170701940603 and also email the FCA on consumer.queries@fca.org.uk and quote reference 204787627.
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