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35. PACL Limited Pearls
Class Action to Recover
Investor Funds
If you are interested in
being involved in a class action to pursue funds
in Australia at NO Cost to you, please express
your interest by signing up and inserting your
particulars below.
Have you lost money
invested money with?
Pearls Agrotech Corporation
Ltd or PACL
Pearls Golden Forests Ltd
(PGF)
Lotus (Agricultural and
Marketing Co-operative Society Ltd)
Mesmeric (Private Limited)
I understand that the
former Chief Justice of India is conducting an
investigation, however the only avenue to secure
funds in Australia is to pursue civil action
through the Federal Court in Australia. I have
contacted the Indian authorities and they have
failed to respond. The owners of the Pearl
assets in Australia may take action to move
funds and in particular to sell the largest
interest in the Sheraton Hotel (approximate
value $62 million). If I do not get investor
support it is very likely that the proceeds of
any sale will be distributed making it very
difficult to return any funds to investors. If
investors want me to act I suggest you contact
me by providing your details so that I can
contact you regarding the Class Action in
Australia.
If you are interested in
being involved in a class action to pursue funds
in Australia at NO Cost to you, please express
your interest by signing up and inserting your
particulars above. Please tell the Indian
lawyers acting for you that you wish to pursue
this action in Australia.
My name is Niall Coburn,
Managing Director of
Coburn Corporate Intelligence Pty Ltd ACN
160 777 962 which is a corporate investigation
firm based in Australia. I am conducting a due
diligence on whether there is sufficient
evidence to take proceedings in the Federal
Court of Australia to obtain freezing
orders in relation to approximately
A$150 to 500 million
of investor funds obtained through
illegal collective investments schemes
by Indian
Nirmal Singh Bhangoo (Banghoo) and
managed through its two main companies, Pearls
Agrotech Corporation Ltd (PACL) and Pearls
Golden Forests Ltd (PGF).
The PACL Group collected
money by using hundreds of agents and under the
use of at least two business names, Lotus
Agricultural and Marketing Co-operative Society
Ltd (Lotus) and Mesmeric Private Limited
(Mesmeric) and others.
Banghoo initiated the incorporation of
other Pearls companies in Australia, the Pearls
Group (renamed Miigroup in Australia). There
were endorsements of the Pearls schemes in India
by Australian international cricketer Brett Lee,
there is no implication of wrongdoing by Brett
Lee.
Bhangoo (Bhangoo), and
other executives of the Pearls Group, were
arrested in India recently for their part in the
scheme that involves a complex money trail and
alleged conspiracy with Government officials in
India. The Pearls Group, after landing on
Australian shores, changed its name to Miigroup
in 2010 and transferred approximately
AUD$150-$500 million from India to invest in
property on the gold coast. This is nearly
25,000,000,000 Rupees.
The money trail of illegal
funds from India led to the now cancelled sale
of Miigroup properties including the Sheraton
Mirage on the Gold Coast and other multi-million
dollar developments in Brisbane, Australia. We
are investigating how these funds were mixed
with Indian investor funds and what action can
be taken to recover anything for the Indian
investors.
Niall Coburn of Coburn
Corporate Intelligence on Australia ABC 7:30 Report discussing Pearls Group Investigation.
Pearl investors hold a
protest in Mumbai
Click the below link for a
PDF copy of the article.
PDF Copy
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Sheraton Mirage Resort/Hotel on the Gold Coast
in Queensland Australia.
One of the Australian
assets we believe is partly owned by the Pearl
Group.
For more information about
Niall Coburn and Coburn Corporate Intelligence
please visit our website at
Coburn Corporate
Intelligence Website
Niall Coburn Profile
To contact Niall Coburn
regarding the potential Australian Class Action
please email niall@paclclassaction.com
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