Welcome to Books One Line One. I am David Castle and I am a published author. My current novel ‘The Adventures of Michael Fane’ is currently in my publishers top 40 best sellers.
The concept for this blog is for audience participation. Everyday I’ll add a chapter to this tale of Baytree Investors. You can e-mail me direct at email@example.com and give me your views. I will add whatever you have to say. Your name will never be used ubless you so specifically request it.
I have decided to write an entirely new book based on my experiences with an Irish venture called Baytree Investors. The names used are genuine. What I am looking for is feedback from companies or individuals who have had similar experiences with them.
The above link refers to a Mr Christopher A Jansen President of Baytree in Chicago USA. I have had contact with Chris Jansen on many occassions, I actually like the guy. I don’t endorse the methods of trading, in the UK we call it assett stripping. What does interest me is the Irish connection and a certain John Joseph Fitzgerald who trades as ‘Fitzgerald and Associates’ out of both Cork and Dublin. John is an Accountant – but not a Chartered Accountant, he belongs to an organisation known as The Institute of Public Accountants
I am not saying anything against that Institution other than by setting it’s own standards of qualification does according to my research allow individuals to attain the position of ‘Public Accountant and Registered Auditors’ and providing they pay their annual subscription fees then they are legally entitled to use these ‘grandiose’ titles.
John took an agency with Baytree Investors Inc knowing full well that the system to be used was nothing other than ‘a rip off’ – I have in my possession the full training manuals and DVD’s (Then in VHS form when John started out). We have his letters to Baytree asking for a huge supply of literature.
How it worked; Trading as ‘Baytree Investors’ Private Investment Funding he scoured the news ads for company’s looking for investment funding, or he had contact with firms doing the same thing for their clients.
He would arrange a meeting and read the business plans and see what the companies activities were. Naturally with the ‘title’ Public Accountant and loads of initials on his business cards and stationery everything looked totally believable.
In my case he placed in writing that Baytree Investors Inc were prepared to invest £250,000 in return for 50% of the company shares on the basis that John would also act as adviser, shareholder and director. In fact Baytree Investors Inc have placed it in writing that he never even submitted our circumstances to them!
What he did was to copy their logo (we have originals) and ‘pretend’ to be a Merchant Banker.
On the newly created headed paper ‘Baytree Investors Cork’ he invited me to attend a meeting in London with what I thought was a senior member of Baytree – wrong!
The person I met was a Mr Frank Adamson of ‘American Fidelity Trust’. I gave him the business plan and spent one hour in his hotel room at the Inter Continental. After the meeting John escorted me to the rear exit of the hotel and told me that ‘it really went well, I’m going back up and get this sorted’.
What he most likely did was to go to reception and meet the next ‘Muggins’.
Two days later I received the first of dozens of faxes from the illustrious Frank Adamson. He was in Geneva (all faxes are available) saying that he was really excited about my proposals and prospects, so pleased was he that he stated ‘Colin, I really enjoyed meeting you’ – well, my name is David. No doubt Colin was in reception awaiting his meeting!
After that day after day we received faxes from around the globe, always from expensive hotels, mostly around Spain or the Caymen Islands and of course Ireland and the United States.
As we had a confirmation letter stating that the £250,000 was agreed and arranged, we gave the information to our bankers. They agreed a facility of £50,000. So we began to expand.
We had a unique product, a ten year structural defects warranty for the repair of Pre Fabricated Reinforced Concrete Housing – in fact any Non Traditionally designed property could be reinstated via the Commercial Union 2000plus warranty arranged exclusively for us by the then Steel Burrill Jones PLC group.
With a market of over 1million homes in Council ownership we had what looked like a goldmine at our feet.
The scheme became known as ‘Joint Venture’ comprising of us Council Tenants Advice Bureau UK Limited – Steel Burrill Jones PLC – London Brick (now Hansons PLC) John Mowlem Construction PLC – Curtins Consulting Engineers PLC – Michael Dyson & Associates Ltd – and the two biggies Nationwide Anglia Building Society and Abbey National PLC. I put the whole thing together.
Mortgageabilty of the scheme became known as NTHAS (Non Traditional Housing Appraisal Scheme) with Curtins – Dysons being joined by even larger Cilvil Engineers namely LG Mouchell and DiNardo.
All looked so fantastic. There was one fly in the ointment. The then mighty Halifax Building Society. Their head of valuations, Mike Fisher would not entertain NTHAS – they could not bear the fact that I had put together Joint Venture without them being the lead player!
They had already put together a disastrous scheme with Leeds City Council known as the ‘Leeds System’ – basically the Council’s own Civil Engineer team had devised a repair solution for the Airey House
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