Some Advice Needed Please

Dodgyone

So plenty that they have no agreements on.

Those that they do have agreements on as useful as an ashtray on a motorbike.

New launching date May Was asked to put my house in Don't think so

Dodgyone

I think they might be sensing an opportunity to list on the Moscow stock exchange!

ScamAtak

This whole Moralltach enterprise is a one gigantic scam. It was and is an attempt by the main Directors and shareholders eg the Brennans, Cormac Lohan, a shady advisor called Larry Woghiran and a band of others to fraudulently enrich themselves and dupe investors. Luckily it was found out and suspended in Australia. The would be auditors in Malta pulled out of the audit last year as they realised what was going on. There are people in the UK who have been sold shares in the last year on the back of properties that are not legally owned within the portfolio and a false valuation. A search of the court records in Malta show that there are a number of creditors in Malta and the UK who have filed their letters of claim. This company will never be able to raise any money at all legitimately. It is a total fraud. Eventually and probably very soon Moralltach will be struck off in Malta. There is a guy who joined them last year called John Ryan who had a decent reputation but might get tarnished with the same brush as the other people involved.

Dodgyone

Sadly no surprises there

Dodgyone

Larry Woghiren the advisor. Formed a company called Eliseo Partners with a person called Timo Strattner. Eliseo Partners and both owners were mentioned on www.ripoffreport.com. In the Moralltach Financial report of 2017 Eliseo Partners is mentioned as the 8th largest shareholder of the company.

Strattner formed a company that is listed on the OTCC market in the US. Share price has fallen 99.9% in 36 months and is worth 0.008c per share with a market cap of an apartment in Dublin. Eliseo Partners is a shareholder in SCNG. Strattner again is mentioned on www.ripoffreport.com for his dealings at SCNG.

God the plot gets thicker of I wonder what the attraction of Frankfurt is.Well if I was contacted again to put my property up again mind you it was never taken off their portfolio I presume I am one of many they are contacting like with the same deal Go to your mortgage provider and buy off your distressed mortgage and lease it back to you for 15 years oh then in 15 years you can buy it back Are they registered with the central bank What ever happened to Patrick Fitzpatrick who was chasing them for over 100 grand in cash he paid for shares he never got .

Dodgyone

Suspect Fitzpatrick and others are still trying to get their money back. They just cannot use debt collectors to do so.

Of course Moralltach are not registered with any central bank or for that matter any corporate body with any level of reputation.

Dodgyone

Germany is mentioned by sources within the company as a potential as they have most likely found a banker in that country who would be interested in receiving fees for an IPO. That being said they will not have done any due diligence on the company yet. When they do they will run a mile.

RogerthatNinerone

Where you get the info on this company? I can see nothing but their amateur website with no real info on it. I thought they were defunct judging y their lack of activity

Dodgyone

A private investigator, contacts and research.

They are defunct of genuine business ideas

So how did they manage to come this far since 2016 chopping and changing ducking and diving and still people invest and believe after all these faild attempts that there's a dream gold mine in this next float because there are some people that really believe this Are they just gullible to that extent.

Dodgyone

Virtually no one new has invested a cent since 2016. The same old tired ideas and people trying to convince new people of the lie. No financial institution will lend so they prey on the financially illiterate . Unsuspecting people/companies that supply them don’t get paid hence the legal cases in Malta.

Agree there are a very very small number of people that believe this but these are generally those selling the lie.

If no one new has invested what are the brining to Frankfurt

I believe they are re visiting old customers or costumers like me who did not put in their property yet on their portfolio. I do know they are getting each asset reassed and up to speck for this launch they have been doing this for months and some think this is the big one millionaires overnight well over years 🤣🤣🤣🤣

Dodgyone

They are bringing the same tired and flawed package that failed in Australia to Frankfurt.

They will be trying to convince people that two parties can own the same asset and this is what their entire business model is based on. By that I mean that they will tell investors that they own your property (shares as consideration) even though the property register says otherwise.

True but sure if they went in to a Bank to buy a distressed Mortgage they would not entertain them there not registered with the central bank and not set up as a proper finance company terms and conditions have to be atherned to when taking over a mortgage.

Veritas26

They can definitely not go to anyone to buy anything as they have zero cash.

What they want to do is tell unsuspecting IPO investors that they own your property. On the basis that they “own” properties raise money via an IPO saying that they have a property portfolio. Use the money raised via IPO to buy out the distressed debt and then get the property moved on the property register to the name of Moralltach.

There are two big problems with this:-

1. They do not own your property and telling IPO investors this is misrepresentation. You do and two parties cannot own the same property.
2. Even if the above did make any logical business sense the only people that will get rich from this are management of the company. Look at the IM of the company from the failed Australian listing. Directors of the company own the VAST majority of shares so any property put into the company would create value for the directors of the company but not for those that received shares as consideration for property. Management will own the vast majority of shares even though the only “assets” in the company are the properties investors put in. The original owners would not ever have enough share value to buy back their property in the future as effectively they will only get a small % of the property value in shares from Moralltach due to management owning the majority of these shares. If you look at the IM they produced in Australia only 17% of shares were owned by those that had put their properties in. Management owned the vast majority. So for you to ever stand any chance of being able to buy back the property the share price would have to increase by 100/17=588% for your shares to be worth enough to do that in the future.

Dodgyone

Quite clever really as they manage to deceive both investors in an IPO and those that put their properties into the company.

Everyone loses apart from directors of the company.

Dodgyone

Bubba - bet they did not tell you the bit about the management of Moralltach owning 83% of your property and that you would never be likely to be able to buy it back!

I was advised 2016/17 to stop paying my mortgage for three months so it would then be detressed and that was the only way I'd get into the deal .They would then go to my bank and offer to buy it.So at that time I thought this was amazing I'll be worth thousands as they told me when it floated. so I stopped paying for three months I then got into deep trouble with my bank so I started paying it again and they put my arrers on to the end of my mortgage.So where I smelt a rat when I asked for a meeting just before I got out of the deal I met a person friend so I thought I asked would I own my house no he said I said who will own it he neither me or them .Then told I'd pay a lease fee per year which turned out that would be more than I was paying for my mortgage.Then oh I can sell it in 15 years for the current value of that time with the thousands of share money from the IPO I can remain in my house till then .I told him I'd have to get a solicitor to look at this first and I was told not advised.but they have their own solicitor (now I know now that solicitor CEO was struck off and so was the accountant CFA.I read the Malta Terms And Conditions of course I was not told about this that if I failed to pay my lease or went into streres I'd be liable to loose my house.So I got out of that very quick So they came back a second time last week offering me the same deal .I do know this person is working behind the scenes for Moralltach well been used to tie up loose ends of property deals securing all property making sure they meet certain conditions. So there you go.

The CFA their accountant at that time was struck off after his company was investigated for over a million and more of clients money was not accounted for

Dodgyone

Nice so they are trying to defraud the banks as well!

Charlatans.

Justice will be served

Veritas26

@ Bubba - do you know anyone else that has been asked to “sell”* their property for Moralltach shares?

You should direct your buddy to this website. Then he will understand what is going on (assuming he does not already)

*i say “sell” as there is no sale. The property is still owned by the individual and is shown as such on the property register

No I don't know anyone else who has been approached but the list of properties in their portfolio is in their memorndom few houses there .I've spoken to my friends other half two years ago but there to gullible to nice and sucked in

Dodgyone

So long as they don’t become a director they will be ok. Plausible deniability.

RogerthatNinerone

What happens to the properties that are listed in their current portfolio?

Veritas26

In what regard?

RogerthatNinerone

They have properties listed in their memorandum - have they some legal hold on them? Will they be thrown in the pot or is that old information from 2015?

Dodgyone

Unless the individuals have sold them or the bank repossessed they will include them.

There “legal hold” is almost entirely meaningless. To the point they have never generated a cent of revenue, have none on the property register and individuals can still sell.

If I set up a new company todays with 5000 shares and did the follwing

gave you a 1000 shares

you gave me beneficial ownership in your property

it would mirror what they have done.