Amico Private Wealth, Amico Private Office, Amico Capital review: Brokerage 18

We are a start up aviation company (Victoria International Airways SL) incorporated in Spain. We had organised everything to start operations in May-June. Not only these guys are retaining our deposits, but also we have taken over significant costs to be prepared to receive the a/craft and operate it asap. I havent quantified it yet, but we have incurred in costs on the expectation of this deal between €150K and €170K.

PARTS involved in the scam made to us are (we dont know whether Savfin and Nimbus have been used to carry out the scam or were involved in it. However James Donald Adkin and Mark Davies were):

A. James Donald Adkin (Mobile: [protected]): He acted on behalf (CEO) of a company called Amico Private Wealth Ltd ( Reg Code: 783391) as lessor. www.amicoprivate.com .
It also uses Amico Private Office as trademark. Teleph:+[protected]
Contact addresses: 12 Victorian Heights
London SW8 3TD
33, St James's Square London, lately changed to 53 Davies Street

You will be able to check that his office number doesnt work (already over months). As to his mobile number, he doesnt answer any call from my Spanish mobile as well as from an English number I have, once he realised it was me (by first call from that number, he answered).

B. Mark Davis: He acted as asset manager. He pretends to own a company called Mena Jet Services. Address in London: 33 St James Square London (same as APW). Mobile: +[protected]. [protected]@menajet.co.uk. In our opinión, this person is the main cause of the problema, as it is the most dirty one. You will see his emails.

It is normal in aviation as to lessors is referred, that investors (a/crafts owners) have a technical manager of the aircrafts. Mark is the guy who is supposed to have taken that role. Definitively, the scam hadn't taken place without him.

C. Guy Munnis (Mobile Tel: +[protected]) acted as commercial representative of APW, through his company: www.nimbusav.co.uk. Registered Office THE PINNACLE 3RD FLOOR, CENTRAL COURT CRAWLEY WEST SUSSEX RH10 1JH. Trading Address 3rd floor, Pinnable, station way, crawley, west sussex. RH101JH

He carried out the Due Diligence in our office, on behalf of APW. I warned him of being involved in court cases, and after some tense answer he said (on the phone, he would cooperate with us and that he had not been paid anything for his job).

D. Chris Ganzenhuber (Mobile: +[protected]) acted on behalf of Savfin AG, sited in Switzerland. He just acted as broker or intermediator.

Savfin AG
c/o Intraudit Treuhand AG
Bahnhofstrasse 28
6305 Zug, Switzerland

Telefax:
+41/[protected]

E-Mail:
[protected]@savfin.com

b) Brief description of facts:

1. 28 March 2014: A320 MSN414 was being commercialized by Savfin. VIA sent Savfin a checklist where apart from corporate information, VIA clearly stated its deal purpose was a dry lease over a period of 3 years.

2. 3 April 2014: James Donald-Adkin (on behalf of APW) signed as lessor an LOI for an operating dry lease on the Aircraft A320 MSN414. The aircraft should be delivered as of 15 May, although the LOI considered an aceptable delay of 30 days, i.e. 15 June.
VIA was informed that such plane was under maintenance protocol in Montpellier (France). Shortly, the aircraft would be available for VIA inspection (Due Diligence).
According to the LOI, VIA transferred a first deposit amounting to USD75.000, to a swiss bank account belonging to APW.

3. 10 April 2014: Guy Minnis (Commercial Director for Nimbus Aviation Lease Management), on behalf of APW, carries out a Due Diligence on VIA. It took place in VIA’s recently rented office in Palma de Mallorca. Due Diligence was satisfactory passed by VIA.
4. Access to A320MSN414 delays considerably. VIA investigates the plane and finds out it is being operating in Iran. It is not being maintained in Montpellier. Based on this evidence a meeting is held in Itanbul between VIA and Mark Davis.

Alternatively, several aircrafts were offered by Mark Davis (on APW behalf). An aircraft based in Rome A320MSN999 was chosen among diferent ones. An immediate inspection was promissed.

5. 30 April 2014: A new LOI was signed, with very similar terms to the previous one. Delivery date was due 20 May 2014, also considering 30 days of acceptable arrears (20 June). VIA proceeds with the transfer of the second deposit (USD25.000).

6. 3 May 2014: Based on a draft contract provided by Mark Davis, VIA answers with its comments in order to close the lease agreement asap. Until now, no reply was provided by Amico or any of its representatives, and the aircraft could not ever be inspected.

7. A third try is made: This time an aircraft based in Montpellier A320MSN400, managed and maintained by JMV Aviation. This aircraft could be inspected by VIA on May 18 2014, and a final agreement was to be reached to substitute the MSN999 subject to the provision of the adequate documentation, which has never taken place. Meanwhile, MSN400 should be delivered between 15-20 June, which didnt happen.

8. Dry lease was never subject either to VIA or APW raising additional funds. A parchase/lease back or any similar deal other than a convencional Dry Lease, was never considered, where APW acted as a legitimate owner of the A320s.

9. 25 June 2014: After several termination letters starting as of 17 June, with short grace periods, VIA communicates a definitive termination as of 25 June.

10. 1 July 2014: APW presents the following proposal: Purchase ans Lease back on MSN400 where APW acts as a mere broker on behalf of VIA, who never empowered APW. The deal encloses a Dutch lessor, which would buy the plane to VIA for USD1, 7MM less than VIA’s acquisition price. APW doesnt act as lessor in the proposed deal, just a mere broker, who has no aircraft otherwise signed.

11. VIA claimed its money back, which should have been transfered as of 25 July. In the end of the year we recuperated 25000, though they retained 75000, as compensation for the costs incurred, they claim.