Magna Global’s MIX2 posts £1 million loss as owner scrubs luxury lifestyle from Insta

Struggling property investment scheme Magna Global has filed July 2019 accounts for its MIX2 entity, reporting a £1 million loss.

This follows Magna investors reporting they have not been repaid on time, and one of Magna’s other companies which took in money from investors, Magna Investments X (aka MIX1), also posting a £1 million loss.

MIX2 issued 12-month bonds to investors paying 12% interest over the term. Bonds were promoted to investors by unregulated introducers.

MIX2 owes a total of £5.4 million and has assets of £4.4 million, described mostly as “unlisted investments”. The accounts used small company exemptions and contain little other information.

The accounts were filed at the last minute on 30 July before the 12-month deadline expired.

Magna’s final entity that I know of, MIXG Limited, is due to file its first accounts by the end of October.

Magna joint-owners Chris Madelin and Oliver Mason have recently scrubbed their Instagram profiles. Madelin’s in particular was notable for its dedication to posting public photos of him enjoying a luxury lifestyle.

Chris Madelin Instagram
Living in the crap of “luxuary”.

Where Madelin got his wealth from is unclear. At time of writing, companycheck.co.uk lists Madelin as the director of 26 active UK companies that I was able to find. Most of these had negative or zero net assets and none of those with positive net assets had more than £30k.

Chris Madelin Instagram
Mr Madelin is not accused of any wrongdoing other than crimes against taste.

(Hat tip to a Bond Review reader who saved the photos from Instagram.)

9 thoughts on “Magna Global’s MIX2 posts £1 million loss as owner scrubs luxury lifestyle from Insta

  1. Love it! Crimes against taste, also to add he is about 5ft.
    What I would like to understand is how liable will the security trustee be? These guys charge the earth but seem to never have the answers when push comes to shove.
    I am unsure how much money was raised but I hear its around 30m with one asset worth 1m being accounted for? I am hoping this isn’t the case but time will tell.
    Another unregulated investment bites the dust right under the FCA’s nose!

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  2. Thanks Brev. Brilliant as always.
    Yes, the “crimes against taste” made me chuckle too.
    I think we all know where Chris Madelin’s money has come from. He blows hundreds of thousands of pounds of lenders’ money on an extremely lavish lifestyle for himself and his Scandinavian girlfriend. They’ve done a great job of fooling their Instagram followers, but the reality is their spending has come from lenders’ money.
    Miss_Invest, you’re right about the Security Trustees. They’ve not just been caught sleeping at the wheel, but are actively conspiring towards protecting Magna’s shenanigans and working *against* lenders.
    I’m owed a huge amount of money by Magna which was due to redeem in March 2020 and whenever I’ve contacted the Security Trustee, Equity for Growth (Securities), they’ve not replied to me. I’ve tried completing the form on their website, emailing them, phoning them, all to no avail. They are beyond useless and I hope the FCA shut them down pronto.

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  3. Has anybody looked at the link between Magna, Equity for Growth and Hunter Jones in more detail?
    If you look at the FCA Register and search Equity for Growth you will find one Reece Mennie as an A/R of Equity for Growth (06/07/18 to 09/04/20). That would be Reece Mennie, CEO of Hunter Jones who were Master Introducers for the Magna’s investment products. That’s the same Reece Mennie pictured on Instagram (now deleted) on the beach in Dubai living it up with Madelin & Mason at the height of the fund raise. It wouldn’t be difficult to conclude that Equity for Growth may have been more interested in looking after the interests of Magna’s Directors (and their own pockets no doubt) rather than those of the unfortunate investors. Looks like these boys had all the angles covered…

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  4. He should have added #notmymoney on his Instagram posts.

    More likely than not the thieving Madeline and Mason were spending money of luxury travel in keeping their high-flying image, putting it as business expenses so they wouldn’t have to declare it not pay tax on it.

    What I would give to see a foresenic audit done on these thieves’ companies!

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  5. Well they used Jeff Razaq to do the initial fake accounting valuation report via Jade State Wealth, who according to my records are involved in many many scams, then play innocent when the products default.
    This is organised crime from Magna, Hunter Jones and the Trustee…, they are all probably at it, all of these people need to be held to justice and a forensic accountant needs to go through all their books. Also all offshore entities and bank accounts who are affiliated with Magna need to be investigated, as it is possible a ring of companies were used to wash the money out.
    Let’s see what happens.

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  6. Using their spreadsheet in the video I added up the explicit “Commissions to agents” figures which come to £5.6m, meaning 27% of the total funds raised went to introducers. A large amount more seems to have gone on their own fees.

    Meanwhile the Woking site which is meant to be bringing in the vast bulk of the profits is still in “pre-planning” and will need even more money to build. I will eat my hat if investors see a return.

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  7. I sent the following letter to Mr Chris Madelin, Mr Oliver Mason at Magda Global today and not surprised to see that their mail accounts are now blocked

    Dear Mr Chris Madelin, Mr Oliver Mason

    Who could have guessed that two talentless boys who met at a “Saturday drama school to learn new skillsets and become great performers” would through their own arrogance, greed and disregard for anyone aside themselves, bring so much misery to so many others. While you seemingly claim that you ‘are of the age group of the people who are struggling at the minute, so we can relate’ it appears that you have little or no empathy for the many investors who you have apparently ripped off. “When I dropped out of my media course and went into labouring I thought I had taken the wrong path,” admits Mason. “But what I found out was that I had a real passion for property”. Is your real passion for property Chris? Or is it for easy money? Other people’s money. Those who have worked hard over a lifetime to accumulate savings to see them through their old age. Why work for it when you can buy yourself an expensive suit and take it from those who believed the fantasy you painted for them. People like my uncle (Major Peter A’Hearne) who was born into poverty, brought up in an orphanage after his parents died, worked hard to pass his exams and be accepted into the army as an officer cadet and who then served his country for half a century. He is now 90 and profoundly deaf but you and your cohorts (Hunter Jones) felt no guilt about encouraging him to part with his life saving with the promise of great returns. You took advantage of a vulnerable old man and Mr Daniel Hewitt seemingly continued to encourage him to put more and more of his savings into your companies – even when it was abundantly clear that the capital was already likely at risk.

    The suggestion that “Madelin is refreshingly blunt. And honest.”is frankly laughable. Your own suggestion that “….with me at the front as CEO but Ollie always there as the backbone to the company.” can only lead one to wonder what sort of spineless individual you really are. You suggested that ‘ I read over 700 books and studied in my own time….I started to read lots of very relevant books like ‘Rich Dad, Poor Dad’ and ‘Think and Grow Rich’, and I knew my life was about to change’. How remarkable – you read books to teach yourself how to profit from the trust and naivety of others rather than hard work and talent. I wonder if you took any inspiration from others like Nick Leeson, Bernie Madoff and other habitual fraudsters and con artists? These are people who think nothing of misrepresenting the truth, covering their tracks, pleading ignorance, while having lived a life of luxury at the expense of others. Is that what appealed to you? Perhaps you should have stuck to the Mr Men series.

    How ironic when your ambitions seemed so lofty: “I want to bring luxury homes to the general public…for many, owning their first home is a dream and I want to make their dreams come true” Or “I want to give back, make an impact on the planet and create a positive change.” Positive change? How positive a change do you feel you have made in the life of my uncle who is £215k poorer since he was persuaded to invest his life savings with you?

    You may have recognised some of the italicised quotes below from articles by Samantha McClary (@estategazette) and Lynda Clark (At Home with Chris Madelin featured in FirstTimebuyer) in previous interviews which you have given.

    Some of the more recent posts around this debacle from others with perhaps a little less enthusiasm for your operations include the following:

    · “Madelin in particular was notable for its dedication to posting public photos of him enjoying a luxury lifestyle”.

    · “…blows hundreds of thousands of pounds of lenders’ money on an extremely lavish lifestyle for himself and his Scandinavian girlfriend”

    · “Commissions to agents” figures which come to £5.6m, meaning 27% of the total funds raised went to introducers”

    So what do you both see when you look in the mirror. Do you feel proud that you have let down so many people who trusted you – with little or no chance of them ever seeing their capital returned? Do you feel proud of yourselves that you have apparently enjoyed a lavish lifestyle while your investors will suffer for years to come and some will never recover? Do you think your parents and loved ones are proud of who you have become? Who would have thought that the acting skills you learnt at drama school would have stood you in such good stead to take advantage of so many innocent (and in my uncle’s case vulnerable) investors.

    You appear to both be the worst sort of parasite – cloaking your incompetence and lies with seemingly lofty ambitions when it seems that all you wanted was to enjoy the fruits of everyone else’s hard work while enriching yourselves. What’s the next plan – blame Coid19? I ask you that every time you look in a mirror to think about who you are and what you have done, and what you’ve become. The chances are you don’t care or you would never have behaved in the way that you have. You are what I believe is in the parlance of the world you inhabit ‘filth’ –but what goes around comes around – and at some point there will be a day of reckoning and it can’t come soon enough.

    I hope that should the FCA, Financial Ombudsman, Police and Action Fraud find that anyone has acted fraudulently or is in breach of their terms of reference then they will take the necessary action and those prosecuted will have many, many days to contemplate their actions in an environment a little less comfortable to the one that you and others have been enjoying to day.

    Yours in disgust

    Andrew Aherne

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  8. Update from Oliver Mason to say they are working hard on a restructuring plan with the aim of repaying investor capital even if this takes longer.

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