Alistair Powell - Seven Continent Invest Seven CI Alistair Powell spent our Escrow deposit, lied about it, and declared bankruptcy to avoid creditors The Villages, Florida

Some background on the AlistairPowells escape from Seven Continent Invests liabilities

http://www.pennyauctionwatch.com/2010/02/hungryhammer-penny-auction/

From halfway down Enter
Alistair Powell

Ultimately, they hit some rockiness through poor management and a declining business environment, BUT,
they spent client deposits, and right up until they declared bankruptcy, they
indicated everything was OKnothing to worry about, claiming land disputes etc, that never actually existed.

And then shafted creditors and skipped to the US!

The calm before the storm

From: Angela Ward [mailto:award@7cinvest.com]

Sent: 03 February 2009 15:34
To: Angela Ward
Subject: Update BBCH and the Retreat (Aedon and Claudina)

Importance: High 

Good afternoon,

Following the recent events surrounding 7CI, I am emailing you regarding your Investment on the Island of Boracay, Philippines.

Firstly, please see below a statement from the CEO of Seven Continent Investment (7CI), Mr Alistair Powell.
It is with much regret and sadness that 7CI had to make the decision to  enter into voluntary liquidation, last Thursday 29th January 2009.  7CI  feel that they have been railroaded into this position due to certain developers withholding payments owed to the company and the banks withdrawal of their financial facilities. This was topped by the previous landlord threatening the company with winding up based on an a 95% inaccurate bill.

It is well known in the industry that a major part, if not all of an Agents commission is made by the developer on completion of the project.  The current climate hit an all time low, on a worldwide basis,and this has meant that developments have also been severely delayed. Hence, the commission payments to 7CI suffered, causing considerable cash flow issues.

Although our Investors have signed contracts with the Developers, 7CI will be engaging a Sales Support Department and this will be operational from Tuesday 10th February to handle all client queries and to provide a proper handover to the developer for the client.

The Sales Support Department will do everything they can to aid a smooth transition, and you can contact Miss Angela Ward, in the first instance.
7CI were contracted to sell the units on the project and ensure that contracts were signed by the Investors. 7CI had no contractual obligation to either Transpacific or the investors after this had taken place. However, as a duty of care to our
Investors because of the conflicting information received, 7CI organised and paid for this report. The report covers the Boracay Beach Condo Hotel development.

In respect of the Agrias Suites (Claudina and Aedon), we were contracted by Transpacific on the same basis as above. Initially we sent some of the 50%payments over to transpacific and then it came to light that there was a dispute as to who actually owned the land. Even after many conversation with Transpacific, we have still not been shown evidence that Transpacific are the owners.Therefore we decided to hold all of the additional funds paid to us until we receive full clearance from CB Richard Ellis that your interests are protected. .

Irrespective of the above, we do believe that all of these developments represent outstanding value. However, we needed to take theunusual step of  seeking independent confirmation of stage completions, land ownership, certificates and so on before transmitting your funds.

We have acted out of duty of care to our investors and this is exactly as you would have expected us to.  

It is imperative that you know that your interests are not affected in any way by recent events in 7CI, and we will continue to ensure your investments are well managed through to the completion of all these sites.

5 DAYS LATER WE FOUND OUT THAT THEY WERE DECLARING BANKRUPTCY AND HAD SPENT OUR ESCROW DEPOSIT.

Check out TransPacifics response to the above:

http://transpacificuk.com/philippines/images/btpp%20reply%20to%20latest%207ci%20release.pdf

There is some good communication here from similar creditors and some details on Alistair Powells activities in the US

http://webcache.googleusercontent.com/search?q=cache:kviPiPic44UJ:www.singingpig.co.uk/forums/overseas-property-investment/47334-7-c-invest-liquidation-possible-fraud-2.html+&cd=1&hl=en&ct=clnk&gl=ie&client=firefox-a

Checkout on his Linkedin Profile that Sven CI, not becomes SCI..coincidence?  I think not. Shafting people for millions
does not a good CV make.

This is his current property portfolio,

http://alistairpowell.evusa.com/agentdetail.aspx?agentkey=1026

And his One Sothebys
profile http://www.prlog.org/11323958-alistair-and-shelly-introduction.jpg

We have subsequent reports from the liquidators showing how nothing was availabile for unsecured
creditors.ie those that actually paid them money and were lied to, and to this day no one from 7CI, Alistair or Mike Powell or otherwise has acknowledged that they did anything wrong, (not contacted a single victim). Both walked away
scott free to pursue and left us behind in debt.

I am not sure if Id want him working for my company, or selling me a property when they are capable of this type of activity.