Marcello Developments – Unregulated bonds paying 8-10% per year over 5 years

Marcello Developments Limited

Marcello Developments offers 5 year investment bonds paying 8% in years 1 and 2, 9% in years 3 and 4 and 10% in year 5. The bonds can be redeemed in full after one year.

Who are Marcello Developments?

Bryan Gauson
Bryan Gauson, Marcello Developments co-owner

The company was incorporated in February 2015 and has been issuing loan notes since June 2015. Marcello Developments is a subsidiary of Marcello Group, which is 50/50 owned by the directors, Keith Wotherspoon and Bryan Gauson.

Both Wotherspoon and Gauson were previously involved in Ixe Group, the controversial agribusiness and commodities group. Wotherspoon was previously a director of Ixe Agro Limited, although that subsidiary has now been dissolved. Bryan Gauson describes himself as an employee of Ixe Agro on his blog.

keith-wotherspoon
Keith Wotherspoon, Marcello Developments co-owner

Marcello Developments had net assets of £5 million according to its last accounts (February 2017), after allowing £3.6 million for the liabilities represented by the 5-year bonds. These accounts were not audited, due to Marcello Developments being exempt under the small companies regime. According to the accounts Marcello raised £900k from its 5-year bonds in 2015, £2.4m in 2016 and £311k in 2017.

How safe is the investment?

These investments are unregulated corporate loans and if Marcello Developments defaults you risk losing up to 100% of your money.

The purpose of the bonds is to allow Marcello Developments to invest in the prime London property market, including bridging and mezzanine finance, buy-to-let residential and commercial property, and off-plan property acquisitions.

If Marcello fails to make enough income from its property investments, or for any other reason Marcello runs out of money to service these bonds, there is a risk that they may default on payments of interest and capital to investors.

Early redemption option

The bonds are described as being fully redeemable after one year. However, the ability of investors to exit after one year will depend on whether Marcello Developments has sufficient liquid funds to repay them.

Asset-backed security

Marcello Developments’ loans are backed by the assets of Marcello developments, with a legal charge held by a Security Trustee (Jade State Wealth).

Investors should not assume that because their loans are secured on these assets, they are guaranteed to get at least some of their money back through sale of the collateral if the issuer defaults. Investors in asset-backed loans have been known to lose 100% of their money (e.g. Providence Bonds and Secured Energy Bonds) when it turned out that the collateral was insufficient to pay investors after paying the insolvency administrator (who always stands first in the queue).

We are not in any sense implying that the same will happen to investors in Marcello Developments, only illustrating the risk that is inherent in unregulated corporate loan notes even when they are asset-backed.

If investors plan to rely on this security, it is essential that they undertake professional due diligence to ensure that in the event of a default, these securities are valuable and liquid enough to raise sufficient money to compensate all investors, as well as any other creditors that Marcello Developments has borrowed money from.

 

Should I invest with Marcello Developments?

This blog does not give financial advice. The following are statements of publicly available facts or widely accepted investment principles, not a personalised recommendation. Investors should consult a regulated independent financial adviser if they are in any doubt.

As with any unregulated corporate bond, this investment is only suitable for sophisticated and/or high net worth investors who have a substantial existing portfolio and are prepared to risk 100% loss of their money.

Any investment offering up to 10% per annum yields should be considered very high risk. As an individual security with a risk of total and permanent loss, Marcello Development’s bonds are higher risk than a mainstream diversified stockmarket fund.

This particular bond is described as asset-backed. Before relying on the security backing the bond, investors should undertake professional due diligence to ensure that in the event of default, the security could be easily sold and would raise enough money to compensate all the investors, after the adminstrator deducts their fees and any higher-ranking borrowers are paid.

Before investing investors should ask themselves:

  • How would I feel if the investment defaulted, the sale of the security failed to raise enough money to compensate all investors, and I lost 100% of my money?
  • Do I have a sufficiently large portfolio that the loss of 100% of my investment would not damage me financially?
  • Have I conducted due diligence to ensure the asset-backed security can be relied on?

If you are looking for a “guaranteed” investment, you should not invest in unregulated products with a risk of 100% capital loss.

36 thoughts on “Marcello Developments – Unregulated bonds paying 8-10% per year over 5 years

  1. Have received no interest and struggling to get my money back, even though Marcello cancelled bond I was going to invest in. They have had my money since October 31, 2017. This Company was recommended by my broker, I have never heard of them.

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  2. Do not invest in this company, they are holding my money for a bond they themselves cancelled because “they didn’t need the money” can you believe that. Sixteen months down the line and I still have not received anything from them and not even any communication. Have nothing to do with them, they are out and out frauds and have probably been living the high life on other people’s hard earned money. Lynne Garner

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  3. Have contacted Marcello directly, my broker,, (Direct Property Investments) do nothing for you once they have your money.
    I threatened to report Marcello to the Financial Ombudsman, Brian Gausen (absolute lying bastard ) sent me a confidentiality agreement saying they would pay me out individually. Complete lies, strung me along for two weeks and nothing.
    I would like to turn up at the Marcello offices and stage a sit in and have the press there, anyone interested?
    Get in touch colin1079@gmail.com
    The Trustee, Graham Arnott is a complete waste of space he wright’s letters to Marcello, that’s why nothing happens for weeks on end. I would not be surprised if he is working for them.
    I have reported them to every financial organisation I can find, but the problem is they are not regulated so it needs to be a legal action, which Arnott will get around to in about another year the way he operates.
    If anyone wants to vent there feelings directly to the lying cheating son of a bitch Brian Gausen, which I do often his email is available on the Marcello website along with a picture of the thieving money grabbing cretin.
    Colin Munday.

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  4. It seems I have upset Direct Property Investments, there are, so they tell me, one or two inaccuracies in my comments on this blog.
    First I referred to them as Brokers, apparently they are not Brokers but Introducers, they introduce the investor and the investment company, and then they broker the deal, so make up your own mind.
    I also said they do nothing for you once they have your money, obviously they do not have your money or handle it, this was a figure of speech. The point I made was concerning the lack of after sales or customer service which in my experience, was, and still is, a very long way from what I expected.
    The real villains of the piece are Gausen and Wotherspoon who continue to hang on to investor’s money and have no intention of releasing it.
    Colin Munday

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  5. Gausen and Wotherspoon still hanging onto investors money, do not invest with these crooks, they are thieves who swindle investors out if there money.
    The Trustee of the money that Brian Gausen and Keith Wotherspoon stole, Graham Arnott seems to have gone to ground as well, no word from him, no change there.
    International Investments are also silent, no change there either, but then they did not like my last comments so that’s probably why, still it bears out what I have been saying concerning customer service !!!

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  6. So two days after my last comments the so called Trustee Graham Arnott miraculously/coincidentally reappears with an update from the crooks at Marcello who have our money.
    Marcello say they have had to source alternative arrangements and they mention transaction 4 plus new banking facilities in another jurisdiction.
    This is complete and utter B/S they put out the same excuse worded slightly differently 12 months ago, nothing has changed it’s more smoke and mirrors, the delay they say will be approximately three weeks. What will happen in reality is the three weeks will stretch to five or six weeks without any word from Marcello or Arnott and then there will be another excuse, its just more delaying tactics.
    The truth is the money is not available they have used it to shore up another crooked deal.
    So three weeks from there latest load of lies will take us to Friday the 13th of September when they say they will provide dates for payment.
    Brian Gausen and Keith Wotherspoon have no intention of keeping the promise made in the circular dated 23rd of August 2019.
    Anyone who considers investing with the Marcello group must not , they are not to be trusted, check with your broker they should be warning you off these crooks, the opinions of the various companies / brokers who arrange investments with Marcello would be interesting to hear.
    I’ve heard nothing yet from the company (Direct Property Investments) who arranged my investment.
    A Facebook blog is in the pipeline which will reach out to a vast number of people and hopefully ruffle a few more feathers.

    Colin Munday
    24th August 2919.

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  7. The latest payment details date has come and gone, just as I stated in my last comments.
    It’s just more lies from the dishonest thieves at Marcello.
    Everyone will have gone to ground again including the chocolate fire guard Graham Arnott who calls himself the Trustee, it just goes on and on.
    These crooks Brian Gausen and Keith Wotherspoon have no intention of paying back the money they took from investors under false pretences, they should be prevented from trading, do not touch anything with the game Marcello it is a SCAM.
    The next report from Arnott or the crooks at Marcello will be to explain the latest delay, no doubt it will be something to do with banking regulations that is an excuse they have now used three times over the last eighteen months.
    Colin Munday.

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  8. Absolute silence from Marcello after the latest lies they call promises did not materialise, also, surprise surprise, the so called Trustee Graham Arnott has also gone missing again.
    I would have thought the basic requirements of a Trustee would be regular contact with investors, even if there are not any new developments.
    Bryan Gausen and his sidekick Keith Wotherspoon will be laughing all the way to the bank, after scamming investors out of there money, these two unscrupulous, lying thieves need to realise the people they have stolen from are not going to sit back and do nothing.
    I, like all other unfortunate people who trusted these crooks wait now for the next round of rubbish to be posted by Arnott.
    The financial conduct authority have the names of these scumbags and are watching developments and just in case they miss anything I pass everything on anyway.
    It gets more obvious with every excuse and delay that comes from Marcello that it was a scam from the outset, I just hope that this blog warns anyone considering trusting this company and its directors with there hard earned money, to walk away, they are not to be trusted.

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  9. So extracts from an email have surfaced written by the serial escapologist Graham Arnott.
    This email explains in detail what is supposedly happening now.
    In truth it sounds complete and utter gibberish, if we have any financial experts in the support group their opinion would be good to hear. In my view it is more smoke and mirrors from the thieving crooks Bryan Gausen and Keith Wotherspoon at Marcello, Arnott is just doing whatever they tell him.
    It also begs the question, why has he not circulated this information to us investors, he obviously thinks it will be seen for what it is, just more lies from the unlawful, unscrupulous, thieving scumbags at Marcello.
    These lying individuals are playing games and legal action is the only way.

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  10. The latest lies from Bryan Gausen saying payment schedules will be out in two weeks have proved once again what an absolute disgrace the thieving scum is. He along with his sidekick Keith Wotherspoon
    ,his partner in the criminal activities going on at Marcello gave out another load of lies to string us investors along.
    Graham Arnott, our Trustee (on the board at Marcello apparently) and that’s a joke, said he was going to call them last week and as per usual has gone back under his rock, he will no doubt inform us eventually that he is out if the country without access to wifi. I believe it us time for legal action, Marcello needs to be forced into liquidation, they are never going go pay out, they need to be forced out of business.
    How the low lifes Gausen and Wotherspoon have got away with it for so long amazes me, there are other names in the frame, other people at Marcello who have come to light recently and they also should be nervous.
    The other issue that needs addressing is the actions of Graham Arnott, if ever anyone has a conflict if interests it is this individual, I believe he should be investigated, for a Trustee who us supposed to represent the investors who have had there money stolen he has done absolutely nothing but follow orders from Marcello.
    The unlawful bunch of unscrupulous thieves at Marcello will no doubt have a great Christmas, paid for by us unfortunate investors.

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  11. I asked Bryan Gauson for the legal company that they are supposed to be working with after the last circular which they defaulted on again. Of course haven’t had a reply – this money was supposed to help support my daughter in her training to become a nurse she has had to go without on the back of this. The fact that these guys can behave like this when the investment is supposed to be asset backed and low risk is a joke. Their repeated lies and false hopes is an absolute disgrace.

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  12. All quiet once again from the thieving lying criminal scumbags at Marcello, the complete waffle put out by Graham Arnott has also proved once again what a useless individual he is, nothing he says ever gets done.
    Marcello need to be forced into liquidation and Gausen and Wotherspoon should face criminal charges.

    Its also time that the companies selling these investments took some responsibility for the way they sell these packages to people and do absolutely nothing when as in the case of Marcell it goes wrong.

    The company who sold Marcello to me, Direct Property Investments, now have a track record of selling three failed investments, MJS went into liquidation over a year ago, Marcello last year, and within the last two week’s, Westway are now refusing to pay back investments and not taking calls, and I wonder, are they are still promoting companies like these and taking there commission because it seems that this is there only concern when selling investments.

    If the comments above upset anyone, then they should just stop and think how upset people like me and the person who posted the previous comment are, who have lost serious amounts of money.

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  13. Colin
    keep up the good work, you are the only one letting us poor suckers (the investors) know if anything is happening. Yes Graham Arnott did go to ground, sent email and no reply. They have had my money since 31 October 2017 and it took me a year for them to even acknowledge me, saying they didn’t have my investment or my money. Graham Arnott did eventually confirm that I had invested with Marcello an to leave it with him. I will keep in touch with you if you don’t mind. I left a message on Marcello website asking anyone else who had invested in this nasty outfit to send message and only one person replied, very disheartening. Lynne Garner.

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  14. Thanks Lynn, Arnott makes my blood boil, the latest circular is more of the same B/S. He writes letters to Marcello, a real Trustee would follow up with emails and phone calls, the guy is a complete waste of space. Personally I believe that the more we shout and shame these people the better. I would like to see a lot more noise from investors.

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  15. Once again the situation with the thieving crooks at Marcello has gone quiet, Brian Gausen and Keith Wotherspoon the biggest liars on the planet who have stolen investors money will be preparing for Christmas not caring about the people they have stolen from. This dishonest scum of the earth and there illegal company should be persecuted before they rip off another batch of unsuspecting investors.
    Graham Arnott our so called Trustee has done his usual trick, posted another load of complete bullshit and gone back into his shell.
    The plug needs to be pulled on this investment scam now, no more delaying tactics from Arnott, he is only doing what the parasites at Marcello are telling him to do.
    There is another company currently operating a scam which investors should be aware of, they are also lying constantly and refusing to pay back money scammed from unsuspecting investors.
    The name of the company and its director and major shareholder will be revealed very soon.
    This is definitely a company and an investment to give a very wide birth, they cannot be trusted to tell the truth let alone pay back money scammed from investors.
    Watch this space.
    Colin.

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  16. It would appear that Marcello and there thieving directors Bryan Gausen and Keith Wotherspoon are more concerned with Christmas festivities than the plight of the people they have scammed with there shady investments.
    Graham Arnott is being his normal self, which means he is doing absolutely nothing, very soon another year will begin and these lying cheating criminals still refuse to pay back the money they owe to investors.
    Arnott must be forced to take legal action against these scumbags sooner rather than later.
    Colin.

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  17. Another company investors need to give a wide birth is Westway Holdings Ltd, they are refusing to pay back investors money on an investment that matured on November 1st.
    Major Shareholder Anthony Mark’s has informed investors on numerous occasions that payment has been made.
    He has even rung some investors personally promising that money will be in there account within the next three or four days.
    This has proved to be complete lies, and stalling for time tactics, Antony Mark’s has no intention of paying investors back all he has done over the last three weeks is make statements about funds being paid back to investors .

    %100 of those promises have been proven to be lies, not a single investor on the November 1st investment has recieved any money.

    Westway director Joseph Griffin who very recently sent out a marketing letter saying he thought it would be useful to send an open letter to Westway investors outlining Westways ongoing expansion and funding strategy.
    This open letter was sent out very soon after Westway refused to pay out on the November 1st maturity, roughly translated the letter said we are in trouble financially.

    Joseph Griffin also made promises to investors and also phoned personally stating that payments had been sent which also proved to be lies. And today he issues a statement virtually disassociating himself from Westway Holdings, he says he has no control over the company nor involvement with the financial side.
    Pardon me if I have this wrong but if you are a director of an investment company exactly how can you not be involved with the financial side !!!!

    It sounds like rats deserting the sinking ship to me.

    This little tirade of mine will no doubt upset the likes of Anthony Marks and Joseph Griffin but you can not take peoples money call it an investment opportunity and then run away with peoples cash.

    These people and ther company needed to be outed for what they are
    .
    Westway Holdings Ltd is not a company to trust with your money.

    Colin Munday

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  18. Colin – there is a Westway Holdings page which might be a better place to add your info:
    bondreview.co.uk/2018/01/04/westway-holdings

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  19. Hi Colin
    I, like you, have been waiting in vain for any of the “promises” and circulars to come true but none have. It is clear Marcello have had any intention of paying; Graham Arnott will not be taking any action either on the investors behalf; his only interest is protecting himself and his Company – not ours!

    Given our investment money has gone, the key question is what can be realistically done? Sue maybe , but who and how much would that cost, how much time and what is the likelihood of success.

    I would be keen to understand if anyone has any bright ideas to either bring the sorry saga to an end or how the investment can be redeemed.

    Andy E

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  20. Hi Andy,
    Good to hear from someone else regarding Arnott and Marcello.
    Arnott as the Trustee is duty bound to take action on behalf of us Investors.
    I think it will be necessary to report him (Arnott) to the relevant regulatory body.
    He clearly has a conflict of interest and is not acting in the best interests of the people he is supposed to be representing.
    I believe he does what the crooks Gausen and Wotherspoon tell him to do.

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  21. Here we are January 2020 and all quiet at Marcello, no movement or intention to give back the money they scammed from honest investors.

    Bryan Gausen and Keith Wotherspoon need to stop lying and stalling, it’s been eighteen months and still they refuse to give back the the stolen funds.

    Graham Arnott is also doing what he does best nothing. The longer he stretches out the periods between his completely irrelevant bits of information the better Marcello like it, it means they can keep our money longer.
    It’s worth remembering the companies selling these investments and the companies that sold us our failed investments need also to stand up and be counted.

    Put pressure on these people after all they shouldn’t be allowed to just wash there hands of the people they sold the investment to they should take some responsibility.

    But they also remain very quiet at the moment including mine !!

    I have emailed Bryan Gausen once again but as usual he won’t be man enough to reply, he will be too busy enjoying the money he stole from us.

    Anyone reading this rant and has been robbed by Marcello just remember, the situation is not going to change if everyone just sits back and waits for Arnott to sort it, keep naming and shaming the thieving dishonest people like Gausen and Wotherspoon they need to know we are not going away.

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  22. More lies and bull from Graham Arnott, he comes up with another load of complete waffle suggesting weeks and weeks of negotiations, Marcello and Bryan Gausen are just illegally holding our money, why, if you really are a Trustee Graham Arnott do you not do the obvious, slap a legal charge on Marcello.
    The only reason I can see for not doing this is because Marcell and Arnott are working together they are pulling his strings.
    The lies and deception go on and on, Gausen and his thieving sidekick Wotherspoon have to be brought to book.
    Bryan Gausen is not responding when contacted, obviously hiding under his rock, Arnott is not doing his job as Trustee, he is not putting information out as he should and is he Inchmead or Jade State Wealth? both are hand in hand with Marcello.
    Colin Munday

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  23. Now we are told that a receiver will be appointed no later March 02 should a satisfactory response not be received. Did that happen – no? Now Graham Arnott is going through the yellow pages trying to find someone willing to do the job – why was a receiver not lined up in advance?…. this is basic planning surely. Hope for the best… plan for the worse.

    The other element of this is…. it takes an investor to query if a particular event occurred when it should have occurred. Why were we not told on March 02 what the status was…. why are we having to chase Graham Arnott for update on his own obligations?

    Also…. Marcello are no longer responding to my calls either

    I don’t know about anyone else- but I would getting your legal advise sorted out …. especially in the area of corporate negligence ! You won’t be anything from Marcello so how else are you going to redeem your investment?

    Andy

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  24. The thieving lying scum at Marcello, namely Bryan Gausen and Keith Wotherspoon who are refusing to pay back the money that they dishonestly scamned from us investors are still hidng under there rocks.
    And there puppet Graham Arnott (what a complete and utter waste of space this useless individual is) personally I believe he is as big a crook as Gausen and Wotherspoon.
    He proports to be the Trustee but works only in the interests of his paymasters Gausen and Wotherspoon, he does not inform anyone and purposely takes as long as possible to do anything.
    Where us he now? and what is he doing ? It would take a normal person 24 hours to find a receiver.
    This bunch of dishonest scammers need to be taken to task.

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  25. The latest excuse from Marcello is the Pandemic, they say the the Trustee (Graham Arnott formally accountant and director at Marcello, no conflict of interest there then) is unable to contact the recievers because there offices are closed. Most companies have people working from home and available via phone and email but our Trustee writes letters because it takes longer.
    Marcello also inform me that comments like this are not helping, of course not, telling anyone who reads bond reviews that Marcello are refusing to pay people money they owe is bad for business, likely investors should be aware that investing in Marcello and crooks like Bryan Gausen and Keith Wotherspoon is a very bad plan, don’t do it.
    Colin Munday

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  26. As anyone following my coverage of collapsed unregulated investments will know, the insolvency sector is very much open for business during the pandemic.

    If Marcello has run out of money then there is no actual incentive for the Security Trustee to do anything. They aren’t going to get paid for any work they do. The Security Trustee presumably charges for its services, and if Marcello is unable to pay them, they’ll have to take their place in the queue outside the receiver’s with the investors.

    If Marcello has run out of money, the investors will want to see receivers appointed (if only to get closure) whereas by contrast the Security Trustee won’t want to do any more work (including contacting receivers) because it’s unlikely it will get paid for it.

    That’s a simple summary of where the incentives lie, without getting bogged down in any discussion of potential conflicts of interests.

    If an investor has loaned money to Marcello and Marcello has defaulted on repayment, the investor has a legal right to go over the Security Trustee’s head and ask a court to appoint receivers (subject to a minimum amount being owed, and the legal formalities of statutory demands). That said, there is an inherent chance that doing so would be throwing good money after bad.

    The other option is to just write the money off. If an unregulated investment owes you money and isn’t paying it back, the two options are 1) write it off and treat any recovery as an unexpected bonus 2) take legal advice and risk throwing good money after bad. All other options are slower and more stressful versions of 1) or 2).

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  27. So Graham Arnott ex accountant and board member at Marcello and now trustee responsible for retrieving our stolen money from his previous employer’s has put out the latest update.

    What a load of complete and utter bullshit, he is not going to look for an LPA Reciever for another month blaming it on the lockdown.

    Offices all over the country are open for business, they are all available via phone and email.

    It’s ironic Arnott has wasted months and months writing and emailing when he should and could have been direct, and now he says it’s being put on hold because of travel and social distance restrictions, he never visited before.

    This is just giving crooks Gausen and Wotherspoon yet more time, it is no doubt that they intructed Arnott to do this because it’s in there interests.

    It’s time now that Arnott is reported to the FCA and Action Fraud,

    Colin Munday

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  28. I do wonder if Marcello, or the crooked dishonest pair of scammers Bryan Gausen and Keith Wotherspoon are still operating in the finacial sector, because if they are then absolutely no one should deal with them or even consider investing in anything they are part of.
    They are not honest, they will make promises and take your money and laugh all the way to the bank and when you complain and try to get your money back they will even call you up and tell you it’s ok we are going to pay you individually just sign this confidentiality agreement and you can have your money, but it will take ten days from receipt of the paperwork.
    And guess what, it doesn’t happen, this is a ploy used on myself and other unfortunate investors.
    This is a very simple message, if it says Marcello, do not go near it, it is a Gausen and Wotherspoon scam, it’s a bit like Covid 19 you most certainly do not want it.
    Colin Munday

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  29. Time continues to pass and the dishonest Marcello thieves Bryan Gausen and Keith Wotherspoon are still laying low and enjoying the cash they scammed from honest hard working investors.

    The puppet they appointed as Trustee (there ex employee Graham Arnott) is also keeping his head down after the lies he told about not being able to find an LPA Reciever to take on the job, just another load of bullshit the same rubbish he has been spouting for eighteen months.

    Gausen and Wotherspoon want to drag out the next process for long as they can, this Marcello pair of cowboys have our money and obtained it via a scam.

    If any unfortunate individuals come across the name Marcello as an investment opportunity they should give this company a wide birth, Bryan Gausen and Keith Wotherspoon will take your money and spend it on keeping up there lavish lifestyles, holidays to exotic places as some easily obtainable photos show.

    The chocolate fire guard/ashtray on a motorbike Graham Arnott both descriptions fit equally (Jade Srate Wealth, Accounting Worx, Inchmead) to name but a few of the companys he has started and liqidated needs to do what he has failed to do ever since he became trustee, work for the investors and not the Marcello bandits Gausen and Wotherspoon.

    I did receive an email from someone at Marcello, I don’t know who sent it because they hadn’t the balls to sign it , but apparently my comments on here are not helping and are slowing the process down, really?

    I plan to keep up this regular rant because Thieves and Shysters like Bryan Gausen and Keith Wotherspoon should not be allowed to steal investors money like they have and hopefully any prospective investors will be put off dealing with anything with the name Marcello .

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  30. So, here we go again, the crooks at Marcello and I will post there names again, Bryan Gausen and Keith Wotherspoon the thieving liars at Marcello have appointed one of there mates, sorry a company called Morris Bromley to manage client enquiries henceforth, as they put it.

    This Morris Bromley in his email to us investors talks about his legal team/advisors this company has only been around a couple of years, it sounds like a one man band to me, and the bullshit is the same, he says, the investments made by Marcello are being re-structured by the entities that hold these liabilities and they are at a final stage.

    Absolute and utter fabrication, this is Arnott language, this guy is reading from the same script, guaranteed the next message will be about it being a long process, of course it will be, it was with the last Marcello puppet.

    How can there be a Trustee who has been waffling and lieing to investors for two years, and this guy says he can not find an LPA receiver to do the job, who does he think believes this. But how is it possible with a Trustee in place that Marcello can suddenly appoint this other person who Gausen and Wotherspoon will control and play for time for another two years.

    All of this information will be passed on to the Financial Ombudsman and the financial fraud office, the file on the crooked actions of all at Marcello and now this new outfit will make interesting reading when it finally goes to the reciever, and it will eventually.

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