Scam – buster, Ben Catt takes a look at Passive Investments duo Andy Shaw and Greg Ballard whose many mistakes ended up with them being forced to declare bankruptcy…
Despite the smiling faces and upbeat sales letters, the general downturn in the economy is hitting some business opportunity promoters very hard indeed…
Of course, there’s no way you’ll hear this directly from their mouths.
With the business being what it is, it’s extremely unlikely a biz opp promoter would actually admit to having a rough time as they need to keep up appearances and show that their methods still work!
Their livelihood depends on being able to prove they can make money in any economic conditions.
Rumours persist that one big and allegedly successful UK internet marketer has been forced to let go of all of his staff after a disastrous product launch cleaned him out.
Another wannabe marketing guru has had to move back in with his mum after failing in his quest to replace his income after he quit his job.
Then there are various stories of marketers who have overextended themselves and overestimated sales volumes, now finding themselves very short of money at tax bill time.
Perhaps the most startling example of opportunity sellers struggling comes from Andy Shaw and Greg Ballard who on their sales pages called themselves ‘Multi – millionaire UK Property Investors’ and ‘Founding Partners of Passive Investment’.
Sadly, their downfall will probably leave their customers with huge losses to the tune of tens of thousands of pounds.
This month they have both appeared in bankruptcy court and their company, Passive Investments Limited, has been entered into voluntary liquidation owing more than £8m to various creditors….
Sign up to Money Tree to read my full report on their downfall and what we can learn from it…
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