Back in February I reviewed a bond supposedly being offered by Grove Developments, an established property company which is part of the Arora Group.
I noted a number of discrepancies in the literature, most notably that parts had been copied and pasted from Blackmore Bonds and at least one other unrelated investment, despite significant parts of this copypasta being irrelevant, and that a picture of a Grove Developments director differed from their own website.
My suspicions were recently raised again when Grove Developments released their latest accounts, which appeared to contain no indications of any bond raise.
I then noticed that the literature for the investment directed investors to grove-fund.co.uk. This website is now down, and differs from Grove Developments’ usual website (thearoragroup.com).
A phone number provided on the literature is still answered by someone answering the phone as “Grove Developments” but I did not pursue the call further.
Given the numerous discrepancies in the literature, and the fact that it uses a different website to the official Arora Group website which is now down, I am concerned that the “Grove Developments” bond may have been a simple fraud which was nothing to do with the real Grove Developments, and that any money invested in it has simply disappeared.
I have asked the Arora Group for confirmation but at time of writing they have not replied.
In the meantime, investors should not invest until The Arora Group has cleared up whether the bond is genuine.
A comment left on the original article confirmed that the “bond” was being actively marketed via cold-calling at the time.