Complaint Review: Seven Arts Pictures Plc
Seven Arts Pictures Plc Seven Arts Pictures Plc - In Liquidation (High Court of Justice 9349 of 2011) - List of Directors implicated in Fraud Los Angeles California
The following are a list of Directors of Seven Arts Pictures Plc that went into Liquidation implicated in Asset Transfer Fraud.
We are affected as the group above solicited an investment of $400,000.00 on September 18th 2009 under the direction of Peter Hoffman. He warranted in a contract that the film would be delivered no later than December 31st 2010. No film was ever made and he quietly without informing the investors put the company into liquidation and allegeley sold all the assets at under value to his new company Seven Arts Filmed Entertainment also trading in the UK. He along with his co Directors, Kate Hoffman, Elaine New and Julia Verdin then continued to pretend the film was still being made whilst accepting new investmnets from new investors with the new company, whilst keeping other investors quiet by not telling them the company was in liquidation so they could cause no publicity or harm to his outfit. [continued below]....
In one email written on Thursday, November 10, 2011, two days after the company had already been placed in Liquidation, Peter Hoffman says "The picture remains set for production despite the setbacks, and Seven Arts remains as involved as it always has been". This was a statement by the Director about a company that was in Liquidation and no mention of the liquidation. Clearly fraudulent.
In another email on Thursday, August 23, 2012, (attached) nine months after the company was already in liquidation Peter Hoffman and his Counsel Randy Katz of Baker Law represented himself to the investors about repayment of the financing and the film was on track to be made. This was not true as he had already sold the rights of the film to another company Medient just before the company was placed in Liquidation and the original company used to collect investors monies was already in Liquidation.
After public complaints by us, in a Press Release issued by Seven Arts on May 24 2013, Peter Hoffman makes statements to shareholders which are clearly contrary to the correct position.
Peter Hoffman claims no investigation is being carried out against him, yet the Official company liquidators that is not true.
Peter Hoffman claims no fraudulent activities have taken place and no suits filled. Yet SAE is subject to Chapter 15 Proceedings and litigation in the Superior Court of California, where the claimant is seeking to avoid certain transfers to SAE under Californias Fraudulent Transfer Act. You will see details of this in the attached letter by the Official company liquidators.
We have submitted a formal complaint about the company and the Directors who have multiple companies in the UK using similar names.
The US company Seven Arts Pictures reputation of a long standing film maker was duplicated in the UK with the same name. Investors then gave Peter Hoffmans monies they thought were being invested into movies but instead went directly into the pockets of Peter Hoffman and his Daughter Kate Hoffman.
Investors were then lulled into a sense of false security with emails being sent by Hoffman using the email address of his US company with the same name informing them on the progress of their investment whilst the company they actually invested in was already in liquidation in the UK.
Seven Arts has no contingency for these liabilities and it has not been shown in their financial statements as a contingent liability despite being a public Co.
On July 19, 2011 Officers of Her Majesty’s Revenue & Customs (“HMRC”) raided the offices of Seven Arts Pictures Plc. (the “Company”) in London already in liquidation. Documents were taken appertaining to arrangements involving the subscription for shares in a number of companies which had lost value, resulting in subscribers making claims to tax relief in a Fraud masterminded by Hoffmans daughter, Kate Hofffman. The company had been used to collect millions of dollars in tax relief for movies that Hoffman never made.
OTHER PRESS RELATING TO SEVEN ARTS, SAPX
This report was posted on Ripoff Report on 06/06/2013 03:44 PM and is a permanent record located here: http://www.ripoffreport.com/reports/seven-arts-pictures-plc/los-angeles-california-90067/seven-arts-pictures-plc-seven-arts-pictures-plc-in-liquidation-high-court-of-justice-1057041. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year. Ripoff Report has an exclusive license to this report. It may not be copied without the written permission of Ripoff Report. READ: Foreign websites steal our content
If you would like to see more Rip-off Reports on this company/individual, search here: