I imagine he is feeling pretty green now

A Kiwi man has poured $525,000 into what is believed to be a sophisticated global investment scam and is warning others against being taken in. Quote.

Manfred Bredl, 63, believed he was investing in a groundbreaking carbon emissions scheme, reportedly backed by the Mexican government.

But promises of a NZ$1.8 million cash windfall by charismatic, smooth-talking operators failed to materialise and Bredl now fears he’s lost the lot in a sophisticated con.

He believes he’s been duped by individuals behind two dummy companies ? FM Wealth Management Ltd, purportedly based in the Cayman Islands, and private share company Eco-Plant Corporation.

Bredl claims they masterminded sham social media accounts and company newsletters, and even alleges fake photographs of company directors on the website.

I’m university educated, I’m not a dumbbell, but they were so good at disguising what was a very smart sales pitch. It was very sophisticated,” said Bredl, a Lower Hutt telecommunications engineer.[…] End of quote.

Manfred believed in easy money and that fact that CO2 was a problem that needed fixing; so that claim may be disputed. Quote.

Bredl was first cold-called by FM Wealth Management Ltd last April after researching investment possibilities online.

The caller explained how they worked and said there had been rumours that a pharmaceutical company, which had patented a successful leukaemia drug, was about to be bought up by a bigger company and that its shares were on the rise. He suggested making a small investment to test the waters.

Bredl was intrigued and snapped up 500 shares at a total cost of USD$1136.25. The money was wired to a bank in Toronto.

Within weeks, Bredl saw share prices increase. End of quote.

Classic pump and dump to suck in the unwary.? ?Mistake number one. Quote.

About a month later, FM Wealth Management’s “co-owner” Bruce Matthews phoned Bredl. Matthews, a “very smart, charismatic guy who could’ve been a preacher”, said they had just been given the contract to take a private share company, Eco-Plant Corporation, through the process of being publicly listed.

The CO2 recovery and transformation technology company, Matthews told Bredl, had patented technology developed with the cooperation of the governments of Mexico and Chile. It also reportedly had several prototype facilities in Mexico and Santiago. End of quote.

And that, Manfred, is exactly where you went so wrong.? There is no market for CO2 recovery and transformation because there is no need to recover or transform it.? You bought into two lies; the CO2 lie and the investment lie.? Mistake number two. Quote.

Matthews allegedly explained the company was raising capital by selling shares for US$4 and once publicly listed, shares would be anything between US$8 and US$12.

He also allegedly mentioned that there might be the possibility to buy share options at US$4 even after the shares are floated, with a restriction that they can’t be sold within a certain period.

“I thought that’s a bit funny but I suppose by that stage I was getting a bit greedy,” Bredl said. “They said the deal would be done by Christmas (2017) and I would have the money.”

Bredl was convinced to buy large share bundles and eventually plunged in NZ$525,000, even re-mortgaging his home to raise the capital. The money was wired through bank transfers to various Canadian and Mexican banks. End of quote.

Mistake number three.? Never invest more than you are prepared to kiss goodbye, and never mortgage your home to do so. Ever! Quote.

The returns for Bredl, on shares he bought for US$4, minus the company’s commission, would’ve amounted to $1.8m.

I was an idiot,” Bredl told the Herald.

“In hindsight, I can see it was absolutely stupid ? nobody gives you that much money in a hurry. But with it being leading-edge technology, and carbon credits, it looked like a good opportunity.

“At the same time, I lost my job, and a big chunk of my redundancy money went in there as well.” End of quote.

As we have said all along on this blog; carbon credits are a scam. Manfred, you should have read Whaleoil.