- With the help of his three buddies, Dylan Creaven, 44, created bogus businesses in London.
- In addition to selling carbon credits, they also promised to cut greenhouse gas emissions.
- However, the court learned that the four guys defrauded senior citizens out of £3.5 million.
Matthew Mansell– Introduction
Athlo’s founder is Matthew Mansell. The Athlo app enables gym members and owners of class packages to rent out their memberships and recoup their membership fees. It offers discounted access to gyms and classes for people wishing to temporarily rent a membership. Additionally, it gives gym owners the ability to increase member retention and decrease member churn.
In the meanwhile, it offers access to gyms and classes on-demand at advantageous rates, without the need for pricey one-off payments or subscriptions, for people who are wanting to temporarily rent a membership. Athlo not only addresses a number of significant problems for gym patrons, but it also gives gym owners some much-needed control, lowering member churn, preventing memberships from being frozen, and boosting retention.
What Matthew Mansell claims is that when he identified a market opening in the Health & Fitness sector that may capitalize on the sharing economy trend in 2019, Matthew Mansell developed the app. His dedication to fitness is evident in his academic career, where he earned degrees in Sport and Exercise Science from Bath University and St. Mary’s University of London. combining his studies with a position in Bath Rugby Club’s academy and eventually making it to France to play professionally for a team called Auch in both the ProD2 and the Top14.
Matthew Mansell worked in finance after receiving his degree from St. Mary’s University. Athlo was initially introduced by Matthew in the UK, with plans to expand the platform internationally. Athlo currently has 4.5k pre-registered consumers, over 80 gyms on the platform, and a number of additional operators joining every month.
Matthew Mansell- In “Boiler room fraud,” an Irish businessman and three of his friends defrauded 32 pensioners out of their life savings totaling £3.5 million by promising them enormous returns on worthless carbon credits and subpar diamonds.
According to testimony given in court, an Irish billionaire and three friends defrauded elderly investors out of £3.5 million by promising enormous returns on worthless carbon credits and subpar diamonds.
According to reports, Dylan Creaven, 44, was the “prime mover” behind the establishment of two fictitious businesses and the funding of opulent “boiler room” office buildings in downtown London’s Buchanan House, St. James’s Square.
Due to the enormous sums of money that traders typically lose, many people historically tended to think that day trading was a fraud. Over 80% of day traders lose money, which is a well-known statistic. Day trading is a legitimate method of earning money online, albeit.
According to testimony given to jurors, Andrew Rowe, 41, Matthew Navin, 24, and Matthew Mansell, 31, his right-hand man, were persistent in convincing retirees to part with their savings.
They promised carbon credits, the court was informed, which lessen greenhouse gas emissions and offset a company’s or person’s carbon footprint.
In a beautiful brochure including images of their St. James’s location, their company, Agon Energy Limited, claimed to be an “industry leader” and included fictitious statements from Forbes magazine.
They sent their customers mugs, pencils, and Christmas cards.
Brokers who were “plausible, articulate and intelligent, but persistent and occasionally aggressive if challenged” called leads on their landlines.
The prosecution attorney, Angus Bunyan, stated: “This case is about the conduct of two independent but connected criminal deceptions, frauds of the kind that are known as “boiler room scams.”
The term “boiler room” is frequently used to refer to a setup in which employees are located in an office that is equipped with banks of telephones and computers.
These people cold-call potential investors and then hard-sell them worthless or otherwise dubious investment opportunities.
It was clever, well thought out, and relentless.
Agon Energy Limited, which was run by Dylan Creaven, Matthew Mansell, and Andrew Rowe between 2012 and 2013, claimed to offer carbon credits to investors.
By effectively paying someone else to lower their greenhouse gas emissions, most frequently in underdeveloped or semi-developed countries, carbon credits are a way for people or businesses to offset their carbon impact.
The same three defendants, together with the fourth defendant, Matthew Navin, were also in charge of Lanyard Capital Ltd. between 2013 and 2014.
“That company claimed to deal in diamonds,” the author writes. “Again, as an investment opportunity, they sold these diamonds to individuals.”
Even entering an elderly man’s home, Navin accompanied him to the bank.
Numerous complaints were filed with the Met Police and Trading Standards, and the police were successful in obtaining evidence from 32 investors.
‘The prosecution’s position is that both of these businesses were used as fronts for fraud,’ Mr. Bunyan said.
They never were legitimate firms engaged in commerce.
“The diamonds offered and sold by Lanyard were either nonexistent or of very poor quality, and the carbon credits offered and sold by Agon were in fact almost completely worthless.”
“We would imply that it was not by chance that nearly everyone who donated money was in retirement and had a relatively old age.
Many of the investors at the time were in their 70s and 80s, and they delved into their funds in good faith to fund investments in schemes they thought would provide substantial profits for them and their families.
Almost none of them have ever been able to get their money.
“Many of them are obviously unable to recover these significant losses,”
Rowe of Hadley Green Road in Barnet, north London, Creaven of Newmarket on Furgus, County Clare, and Mansell of Uckfield, East Sussex all deny two counts of conspiring to cheat and one offense of transferring illicit property.
Navin, who resides in Hornchurch, Essex, contests one count of conspiracy to defraud.
The trial goes on.