Some Advice Needed Please

Dodgyone

They IPO on the basis they own your property.

Pay off your outstanding mortgage with proceeds from the IPO

Transfer the property into the name of Moralltach

You own 20% of the shares in the company. The only asset is your property.

But what Bank /Mortgage company would give them a sale of someone's distressed mortgage they have to meet terms and conditions of Central Bank and they cannot rearrange any previous agreements or agreed contracts of the coustmer as in structured mortgages. My next door neighbor has a structured mortgage meaning they have an agreed amount payable to their mortgage lender until 2026 as they went into arres.After 2026 they have to produce a new Financial Review on their income to see if they can afford to pay more .Now a hedge fund bought the Mortgage off her Bank as it was on their books as a non functioning Mortgage Mars Capital Finance just two weeks ago at a reduced price (Good for the bank good for Mars Capital) So there can be no change in her payments or can the original arrangement be touched until 2026 As agreed from her original lender this is protected by the Central Bank.No how in the name of God can Moralltach do the same no Bank would touch them there not registered with the central bank Also her Mortgage is still hers it's not listed on the property register as Mars Capital there was no sale just a new lender .But yet Moralltach want to take over your mortgage own your house by what ever presentage offer shares that won't happen and lease it back to you that's just insane

Dodgyone

Mars Capital have bought a basket of distressed assets at say 10 cents per Euro. If the cash flows outperform they make money. The property stays with the original owner.

Moralltach want to go to the bank that have the distressed mortgage and buy it outright at a large discount. When they do they move the property into their name. They give you shares for a small % of the property value as previously explained.

Nothing with Moralltach makes sense. It is a flawed business model with misrepresentation to IPO investors, banks and property investors. Only the directors would make any money if they manage to misrepresent to the three parties mentioned.

Veritas26

This is why every single person associated with Moralltach has zero integrity and you will find not one of them ever having worked for a reputable company.

Very true a lot of shady characters through all these years accoicated with them.

Dodgyone

To summarise that very point

CEO - Brennan struck off as a lawyer in Ireland. Patrick Fitzpatrick legal case.

CFO - Linnane adverse regulatory rulings by Chartered Accountants Institute and disbarred from holding client monies.

Legal director - Lohan - investigated for tax fraud and multiple adverse rulings against him by the legal regulatory body. No practicising certificate.

Advisor - Woghiren - multiple reports on the internet of “shady”, “dodgy”behaviour. Mentioned on rip-off report.

Investor relations - Duggan - legal case on Ponzi scheme and pyramid scheme.

Yes and few more in the pile that keep popping up ment to have new crew including new bank in Uk My friend was told William Marshall was the biz little did she know his company thrown off the Cyprus stock exchange just before MoralltachJust one question If they go to the Banks where do they get the money from to buy the mortgages and property that's if they even have any They have no money no shares etc

Dodgyone

No bank in the UK would go anywhere near Moralltach.

The only cash they have ever received has been by selling equity to investors. That has all been squandered. They have no cash.

only way they can get cash is by an IPO and convincing new investors that this is a business and business model worth investing in

Dodgyone

…..which of course is impossible

Dodgyone

I note your comments Bubba that they asked you to stop paying your mortgage so the bank would think that it was distressed debt.

I also expect that they do have many genuine distressed property owners that they are speaking with. These people I suspect are not financially savvy. These people they claim to help.

Even if the overall business concept made any sense the fact that they management will hold 80% of the shares when the only “assets” are the properties is the real scandal here. Effectively means that a €100k property would result in €20k of shares and no prospect of ever buying it back.

So if they got your home say value 300.00 grand for whatever the get it off the bank you only have 20 % of the value so you only own that 20%is that it

Dodgyone

Pretty much yes. They tell you that you get shares equivalent to the value of your property but for every 1 share you hold they hold 4. As your property is the only asset in the company you have shares worth €60k they have €240k.

IPO happens they sell and make €240k.

You need your shares to increase by 500% to ever get it back

I see

Shocking carry on

Dodgyone

You can see this when you look at the IM (for the failed Oz listing) in the number of shares held by “property investors”.

Everyone loses apart from the directors.

It's discrase people been led to believe this

Dodgyone

#whitecollarcrime

Veritas26

Scandalous

Dodgyone

would love someone to come on here to try and support Moralltach. If that ever happens will almost certainly be one of their shady directors!

Who would you start with been so many

whippet

What I can't get my head around is the whole IPO thing .. I know someone who listed on the AIM recently and the cost to apply and get on the exchange came in at about £2.5m .... it's not a cheap / easy process

Dodgyone

Agree but that cost would be for a properly run company with a genuine business model. There would be a huge amount of due diligence to do.

Moralltach is a company with no revenue, no cash. So still expensive but all a flawed concept in the minds of the directors as to how they propose to run a company.

Dodgyone

Larry Woghiren Moralltach advisor rip off report

<Admin Snip>

Dodgyone

His fellow director set up SCNG. Eliseo Partners the company owns shares in SCNG.

SCNG activities also mentioned in the rip off report.

SCNG stock fallen 99.9% and company basically worthless.

<admin snip>

Veritas26

A roadmap for Moralltach?

Veritas26

The bio mentions one of his “landmark transaction included a 1.5 billion IPO in Australia”. Moralltach? The plot thickens.

Dodgyone

Found this on scamion

<admin snip>

This is incredible how come Moralltach has not been exposed.Their still looking for old customers who did not put there property in for the first listing in Australia I was one approached three weeks ago by a so called friend who's involved in Moralltach they where a bit taken back then told me man from Bunclody offices would ring me to explain the deal to me .Of course I put that offer to bed but now that I think of it Of course my so called friend tried to recruit me that's how it works because we trust our friends Remember the scam 2014 Mr O Brien from Dunlaoghaire got 10 years he recuited his best friend's even his Family members .

Dodgyone

It will be exposed Bubba