MRI Overseas Property review: lies and untrust worthy 103

Hi Princess
You did have a lucky escape.
Have you put a complaint into the City of London Police about what happened to you. Whilst they won't do anything about your case in isolation, many people are writing to them. What you have to say could add weight to the complaints there have already been.

Hi . . .I purchased in Bansko, and am very unhappy with MRI, I am with PAVLOVA AND DRAMOV, in Sofia, trying to get my money refunded. As anyone else dealt with this company. Would be interested to speak to anyone else in a similar position . . .Phil

Hi

We had a lucky escape when we visited Bulgaria on an inspection trip with the view to purchase a holiday home in Sunny Beach. We were placed in a hotel in Borgas about 40 mins from Sunny Beach, we were ripped off for our flights. The sale rep 'Maria' was a complete fruit cake, after 4 hours of showing us properties (all incompelte) she drove us to a remote spot and locked us in her car, telling us we were time wasters and looking for a free holiday all becasue we would not sign there and then! We were on the trip for three days we were told that we would be shown a variety of properties and on day three if we like something we could then make our decission. My partner understandbly got very angry and asked her to return us to the hotel she refused and insisted on showing us further properties. That evening we rang our contact in the UK and complained and asked to terminate the trip we were not able and had to endure a further 2 days of the mad Maria. On return to the UK, we compnaied had no response and never was reiburssed for our inspection trip. No shock there ! Luckily we did not invest .

Hi Weeza and anyone else who needs help - contact www.mri-sg.org.
This is a support group for anyone who has problems. You will be asked to prove that you are genuine, as sometimes unwanted snoopers get on this site.

My friend also bought property in Bulgaria but all has went belly up..He has been advised by some guy Dave in the Aspen refund group to terminate his contract using Pavola and Dramov law firm, lawyer named Iva stanilova.As this invovles more money I was wondering has anyone else had any dealing with either of the above...I have searched the web and can find no information to reassure my friend that those mentioned are legitimate.

Please forward any information to weezawyatt@ntlworld.com

Thank you
Weeza

The commercial litigation solicitors have got back to me and said that they would look at people's cases. They contacted me after seeing information on the forums.
If enough people are interested and the firm think we have a genuine case, they may be able to get funding to take it to court. As a lot of people have lost money, this firm realise that people probably wouldn't be able to fund their own cases.
Let me know what you think.

I sent a letter to Lord Triesman yesterday. He is Chairman of the FA and has said that he wants all people in football to be 'above board'.
I have also been contacted by a firm of Commercial Litigation solicitors. I have e mailed them to ask how they feel they can help people.
Also, for anyone who is not already aware, our MP is working very hard on our behalf and has arranged an urgent meeting with a very prominent government body/department who were already interested in what has been happening.
If anyone wants to send me a statement to pass on to our MP, feel free.

Hi,
I bought in Portugal in Albufeira also at the Palmeiras de Santa Eulalia Resort and I like others who bought there have been left stranded with little or no information forthcoming from the developer Crismonte, the solicitor graciously provided by MRI ( I know get an independent one) MRI or CFP, the latter two having now done a runner out of Spain and Portugal last year apparently leaving many disgruntled and out of pocket investors in their wake . I believe they have now turned their attentions onto unsuspecting possible clients in Cape Verde, Turkey and Bulgaria hence the reason for some of the above comments. You will find nobody ever has any answers at MRI promising to get back to you but never do, the staff constantly change there is no consistency in any of the positions except the top dogs who are unreachable . Staff will tell you anything to induce you to carry on especially to pay deposits etc . You have more chance of getting an answer by turning up at Peterborough Football club where the chairman of MRI Darryl McAnthony holds court at home matches on a Saturday.I would never consider buy through them again being conned by their PR machine on that occasion and would advise anybody else likewise. Nudge

Although of no help to any of you I would just like to say thank you for this page and your warnings.

MRI are currently advertising for Sales Professionals on the islands of Cape Verde and a little research has led me to yourselves.

Again thank you for your comments and warnings - obviously I will not be taking what appeared an extremely generous offer any further.

I wish you all well in your endeavors to recoup your losses but I must say that it is beyond me that, in this day and age no-one, nor government department are able to afford you protection and redress let alone compensation for heartache, worry and stress incurred.

My very best wishes and kind regards - Mike

Hello all,

What I am wondering is this (for all of us). We have plenty of opinions and experiences but what hard investigative evidence is there on the net that we can all refer to (and MRI cannot take down)?

For example, I have an email from a estate agent who sells in Bulgaria and says there is no way I could have got a mortgage for the square foot price I bought on. That is an opinion from an expert that counts.

So what have we got? Actual links, new articles etc would be welcome for all of us.

Cheers

Doug

From what I've heard about MRI and Turkey you only hope is to stick with Artev and hopefully agree something worthwhile, Artev have a website and have updated photos on their developments.Best of luck.

My wife & i purchased off plan in Turkey (Lakeview Tuzla) in 2007 it is meant to be ready Nov 09 MRI were great up until we paid the deposit then they dropped us like a hot potato, MRI are refusing to reply to e-mails regarding updates to our purchase, We were asked to go to a meeting in Glasgow but we could not make it due to holiday commitments, Artev the developer has offered us an inspection visit to pick another development in the area.Has anybody else had problems regarding Lakeview you can contact me at vincentanderson@sky.com

Hi Fellow Investors!

I have invested in Bulgaria also but haven't completed. I am trying to contact as many people as possible in the Aspen Developments (particularly Aspen Heights) and especially those based in NI or ROI. In last few days I have managed to speak in person to eight or nine other investors, with a view to arranging some sort of meeting, possibly contacting local media to reach more.

Have spoke to a solicitor in Bulgaria who feels there is strength in numbers, and that we may be able to force MRI to finish development. Also suggested the possibility of negotiating with banks but not sure about this. Anyway, I have been sending personal message galore and hope that people will respond. If you would like to hear more send me a message through this site and I will discuss further.

DON'T LET THESE PEOPLE AWAY WITH IT!

I know its hard to trust who you are speaking to on the internet and there are so many groups out there. We need all these to consolidate and exchange and help within each development. It's our money that is at risk after all.

So if you are based in Ireland North or South, have invested in the Aspen developments and are not happy with your lot, give me a call on my mobile [protected].

Lets see if we can do anything about this to rescue our hard earned cash.

Would be great if someone in England, Scotland, Wales was prepared to do the same. And then we could feed into one another.

In June 2008 I attended a sales exhibition organised by MRI Overseas Property promoting their property developments in Silver Mountain Ski resort near Bansko, Bulgaria. I regrettably agreed to purchase a one bedroom apartment as well as the infamous furniture package after the salesman assured me of the fantastic investment opportunity being offered to me. Being close to retirement age I was unsure about such a commitment but he promised that if I paid 50% of the asking price MRI would provide me with a mortgage through their recommended (independent) broker in Bulgaria, CFP, to pay for the remaining balance, which would be paid off in just 2 or 3 years through rentals, etc. To cut short, after keeping my side of the agreement and paying 40000Euros to MRI I received a call in February 2009 saying that CFP cannot provide me with a mortgage due to the world recession and that I had better find finance elsewhere or risk losing everything. The so called independent lawyer provided also stated that I better find legal representation or else...Months of worry have gone by when Out of the blue I was invited to attend a meeting today with a Director to try and come to some sort of settlement. Instead the aggressive Director threatened to sue me in court if I don’t pay the outstanding balance which I just don’t have. I am desperate and would love to help stop these people from ruining hard working people’s lives. Help!

Hi NML
I am in touch with many people who have had problems similar to yours. We are trying to get something done about what has happened to people.
If you want to contact me, feel free to do so.

I bought an apartment in Aspen Golf for 109, 000 euros with the promise that a mortgage is a formality. I could not get a mortgage and when I asked MRI for assistance they just carried on with their high pressure sales process. This forced me to find the outstanding 52000 euros within a 14 day deadline that I was given or I would lose all the money that had already been paid. The infamous furniture package has never turned up which cost 7045 euros. I also foolishly joined the aftersales club (1283 euros) with the promise that the included rental scheme would guarantee rental income. Who would rent a place without furniture? Anyway, I was then informed that this rental scheme had been superceded by another one. This would then cost another 1015 euros. This whole process has been a nightmare and can you get hold of MRI? I am now in the process of trying to sell the apartment due to the financial struggle this has placed on me. What seemed to be a good investment has turned into a real problem and the worst thing is that MRI don't care. At least when I go to sleep at night I can take comfort in the fact that with the money I have wasted, Mr McAnthony can have his Ferrari serviced on me.

we had a terrible experience on an inspection trip to italy - after reading all the comments we fully sympathise and thank god for our lucky escape. We arrived in Italy already out of pocket to MRI - the cost of the flight kept going up according to them and they would ring and ask for a few pounds more every other day - we were so stupid and paid this to them without asking any questions. Our plan was to buy a holiday home for the family with a view to retirement plans - we explained all this MRI and told them of our budget -waste of breath and time - on arrival we were put into a hotel in the middle of no-where - everywhere had shut down for the season ( we went end of oct) alongside seven other couples on inspection trips - what followed could only be described as a nightmare from hell.
WOn't bore you with all the details, but at one point a rep had to be physically restrained when a couple said they would not be buying as they had not seen anything they liked - he accused them of " bloody holiday seekers, wasting his time" I myself, was at the time unknown to me, very ill with the early stages of meningitis - and no matter how many times I told the rep I was ill he inisited on dragging us round for twelve hours a day to see properties - I was admitted to ICU on my return home - to get him of our backs we signed a deal but were able to stop any money changing hands - we rutrned to the hotel on the last night to discover they had locked us out - place in darkness, just packed up with a signh "CLosed for winter, open in spring" the rep said it was not a surprise - he managed to talk to them to let us sleep there for the night without any food or heat or hot water - add that to my already worsening condition - we could not even get a drink of water as the water had been shut off - as we were leaving early the next morning we put up with it but the other couples had a few more days so they paid for a hire car and went off in search of somewhere else to stay. Never ever again - avoid these people at all costs

Anyone got latest news on Silver Mountains and which sections are complete, ie section 1, 2, 3. Thanks

Check your contract to see what it says about late completion.
It should also state what your position is if you don't complete.
MRI probably need the money off buyers to finish projects, but I don't think there is any way they can force you to complete if the development is not finished.

We have the same problem on Silver Mountain. We were being asked to complete in March as it was almost finished but we went out there to find a muddy shambles of a building site Now MRI are trying to sue us for the rest of the money using Gugushev and Partners in Sophia even though the property is nowhere near finished and probably never will be.

I visited the development in March and it was a shambles, even though MRI told us it was almost finished. We have paid for a furniture pack as we were 'not going to be able to let our apartment' if we didn't. Now they are demanding the rest of the money and trying to take us to court to keep the £20++ thousand we have paid. we said we would pay for our apartment if they could send us a couple of photos documenting the progress. What have we heard? Nothing but more threats from MRI.
Get in contact if you want douglasparry@yahoo.co.u

Hi Douglas
If you join the EOW site, go into Forum. This will bring up a drop down menu. Go into discussions.
You can do a search for Palazzo. This will bring up about 4 options for
Palazzo Bulgaria.
The one I am on is Palazzo Hotel Complex.
You can either post on the site, or send me a private message.
Just be aware that MRI apparently police the site, so their name is not allowed to be mentioned.
Regards.
Izzy

Hi Izzy,

Thank you for all you are doing. I cannot seem to find how to contact you on the eyeonworldwide.com group. I would also like to join the action group. How can I do that?

Regards

Douglas Cartwright

Izzy,
I am a MRI - Silver Mountain purchaser. I have been visited the site since February. Externally not much has been done. I am now being chased by the Lawyers to complete the transaction. I cannot find your entry on the eyeonworldwide.com website. I would be interested in joining the action group.

Hi.
Our MP has been working towards doing something about MRI and is currently in the process of reviewing all the evidence I have sent him.
He is in touch with various organizations and they are meeting to discuss how they can help us.
I am now going to contact the PM about this, to try to add some extra weight.
I am also contacting the Bulgarian Embassy, as what is happening in Bulgaria is giving Bulgaria a bad name.
Anyone who is interested can contact me privately via the eyeonworldwide.com site - search in Bulgaria, then Palazzo and you can send me a message.
A support group has also been set up.
Izzy

Hi Enterado
You can send me a private message on eyeonworldwide.com. I have posted on the site for Bulgaria, then Palazzo.
Izzy

MRI are doing this everywhere it seems. If you look at blog called invesment property rumours dot blogspot dot com you can see the whole Cape Verde thing.

A question to ask with regards to Oceanville is where did they get contact details from? My sister-in-law bought through Parador Properties and yet MRI contacted her. Parador assure her they would not pass details to others (Sure they would, but not to a competitor!).

Steer clear, is my opinion. Walking away from an apartment to take on an overpriced Silver Coast property is not good business. Everyone offers discounts nowadays, to dress it up like "rescue" is insulting.

Izzy, would be interested in a dialogue. How can I contact you?

This is what they are doing to everyone - check the status with your lawyer or maybe for 63K it might be worth another visit to the area and see if you can get another lawyer who specializes in dealing with overseas English Speaking clients. It may cost a bit more in legal fees but this company have been known to get their facts wrong before. I have 'bought' in Portugal and they told me my development will never be saleable because of the Habitation License issue this has been totally refuted by the Developer, Town Hall and other buyer solicitors (who were not introduced by MRI). So my advise to you would be, to do a lot more digging before you say your money is lost and DO NOT BELIEVE ANYTHING THAT MRI SAY they are trying to off load more misery to any 'poor' soul who is silly enough to fall for it.

Hello everyone

i just got back from a meeting with MRI. I had invested in morocco in 2 apartments and paid them £63, 000 so far. i was told my investment in morrocco had failed and the developer had run off so that money was now lost to me.
as a moral obligation MRI told me they were willing to offest this loss against a property in either bulgaria or florida. They put unbelievable amounts of pressure on us and now that i am home i realise they were trying to con me even further, trying to offload a house for 100k that was only worth 40! Is there anyone else out there in the same position. Is there anything that can be done?
My email address is mabdulhussein@gmail.com

I am in the same position with a property in bulgaria and would like to know WHAT DO WE DO NOW?

Hi, I bought a property in Bulgaria in Silver Mountain. Most of the above complaints regarding communication etc I can relate to and, having talked to some estate agents, I am fairly sure I have been oversold by almost double. Anyway, they say they are taking me to court for the other half of the money. It was quite a relief to find this board and if anyone has had any success winning against them (especially in Bulgaria) please let me (and indeed all of us) know. my email address is dcbrain@email.com

i have been involved in Oceanville development on the algarve i have been told my deposit is gone and i have no chance of getting it back i would be very interested in hearing form anyone else in a similar position with mri

I just cannot believe that there is any legal way that MRI can do this. We were invited to a meeting last week regarding a property we have been tryng to complete on in Albufeira and they tried the same scam on us. The difference was that they wanted us to walk away from Albufeira (I understood that they would take the Albufeira apartment) and purchase one on the Silver Coast that MRI themselves were building and for that they would drop the price from Euro190K to Euro140K. All we had to do was pay Euro6K reservation 30 days later 30% deposit next year in May another 20%(this could be drawn down from a mortgage that MRI have already negotiated) and May 2011 the final 50%(also from the mortgage). The very good news for us was that MRI were going to pay the interest on the 20% drawdown for the first year. WHAT SHOWER DO THEY THINK PEOPLE CAME DOWN IN! I suggest that when they call anyone else and arrange to meet them take the police and lawyers with you because these are so crooked it is not even funny!

How does this company keep trading the mri are an absolute disgrace.
We purchased a off plan property on Sal Cape verde islands in march 2008 .Having been on an inspection trip with the mri.We paid the first installment of £28, 000 to the builder.We had little or no information with mri untill april 2009 .To attend a meeting in Leeds in May to discuss our investment. There we were told the builder seems to have disappeared, whether this is true or not we do not know.We were given 3 options1: stay as we are and more than likley lose are money
Option 2 Take up legal action with builder( if you can find him)
Option 3 Roll the money over onto another property in Bulgaria and the mri will stand the loss(knocking off the £28, 000).We agreed to option 3 Bulgaria in our distressed state. We arrived home after paying 6, 000euros resevation fee.T.o realize that they were not trying to help as origanally thought as we were still tied to original contract, but tring to take advantage of the situation and line theiR own pockets Having reserching further into Bulgaria and property
in Banski ski resort also talking to solicitor involved in properties abroad, came to the conclusion we had been illadvised by Mri and not to go ahead withBulgaria.WE contacted the mri to tell them this and asked them to refund our resevation fee but they have refused.
Rachel

For anyone who believes that they have lost money to MRI, or any of its associated companies, we are a group of people who are trying to get something done to stop what is happening and get justice for all the people who have been scammed, told lies, been threatened etc.
You can send me a private message through this site, or via www.eyeonworldwide.com. Go into Bulgaria, then Palazzo. Do not mention the company on this site, or it will get deleted, as many previous posts have.
You can also pm me through eow.
Izzy

OH MY GOD! knew things were bad but never guessed just how bad - they are setting up a meeting in Galway, Ireland for Friday 15th May 2009 should we attend?

Like many have purchased property in Turkey with MRI and have been left high and dry too. They have taken money for rentals then decide not to market the properties and pull out of the country. I get the feeling they will just stay in a country 2 / 3 years, fleece the hell out of everybody then move out, bit like a plague of locusts.

Also Capital Finance partners who gave me the figures and said i could go ahead with the purchase are just as bad, and since found out have links with MRI.

Vic McKeown From CFP just lied by stating my property would be worth 30% more on completion, thus pulling my 30 % deposit back on completion out and this would be risk free.

I think this forum is really great but still we all do need one voice. I think everyone or inputs on here or reads this should complain to
vetting.section@berr.gsi.gov.uk

and also contact Watchdog on the BBC.

The only way to get moving on this i think is over a 1 month period to bombared the above websites with as many emails as possible so that who ever is on the other end actually will think their is a genuine case or story to be told about MRI and its dodgy associates.

Thanks Darryl

Hi
I was bombarded with phonecalls after attending an MRI property fair and consequently bought an apartment in Cyprus in '06 which is now complete but with the current financial climate I cannot continue with the purchase.I have tried contacting MRI with no success and their office in Protaras has now closed and I was informed they no longer do re-sales in Cyprus.
I have it up for sale but have been told it's now worth much less than I paid originally.
I don't know where to turn.
I would be much appreciative of any feed back or advice especially to do with legal proceedings against MRI
Thanks

janfulton@tiscali.co.uk

My wife and i have paid £35000 towards a property in Morocco we have been told by MRI that the developer has gone bust and we have lost our money.We are both OAPs and are worried sick. MRI say it is nothing to do with them but they sold us the property can this be right.

Hi I am having problems with MRI they have not returned any of my emails... I bought in Adelaide development in Romania ... I will be going to Romania to speak face to face with the builder and the lawyers ...I have spoken to the builder and have a meeting with them. Does any one from the Sydney or Melbourne developments in Romania have any comment the builder mentioned legal action against MRI ... I have invested 54000 euro and I am going to try so hard to make this work even if I have to put all the Ikea furniture together myself