Has anyone here seen Paul Carter?
We had a request in the other day for further information about a certain Mr Paul Carter who was involved in a number of 'Innovator' IT and telco investment schemes. Well we don't have an address – in fact we believe he is AWOL – however he does crop up in this court case
In particular read these these extracts from the ruling…
2. The nature of the claim in these proceedings need be
described only in outline. This action is part of major litigation
brought in this court by investors in so-called “Innovator” schemes.
The schemes were promoted during the 2002/03, 2003/04 and 2004/05 tax
years, and were presented to investors as offering fiscally efficient
investments in information technology and communications technology
through either limited liability or ordinary partnerships; investors
hoped to claim tax relief on sums invested by them (including leveraged
amounts) for participation in the partnerships, and the partnerships
would use the investment to buy and exploit technology. The claimants'
case is that the schemes were shams and a fraud upon those investing in
them, and that conditions for them to become members of the
partnerships and for their subscription money to be paid to the
partnership vehicles were never fulfilled. Nine claim forms concerning
these schemes have been issued to date, and I understand that more are
likely to be issued. I am told that, in all, over 700 investors
subscribed to 19 investment schemes: there are 54 claimants in this
action. (The ruling goes on to say that at least £40 million of investors money is alleged to have gone missing.)
4. Dishonesty is alleged against Mr. Carter, Mr. Steidl, Mr. Roper and Mr. Bailey.