Tony Hetherington is the Financial Mail on Sunday’s star investigator, battling readers’ corners, revealing the truth behind closed doors and winning victories for those left penniless. Find out how to contact him below.
A series of excuses: the head of the Click4Reg company, Elie Gabriel Fakhoury
Mrs. LL writes: Last November, Click4Reg Ltd contacted me and told me that a buyer had offered £6,000 for my personalized car number plate.
I accepted and signed the transfer forms but then it said there was a delay at the DVLA.
After a couple of months my son called the DVLA and was told there were no delays so I called Click4Reg and a recorded message said the company had gone into administration.
They confirmed this in writing, but Companies House still showed the company as active.
Tony Hetherington replies: You and other Click4Reg customers have been victims of a series of falsehoods spread by the company and its boss, Elie Gabriel Fakhoury. I started receiving complaints last year from car owners who had put their personalized license plate up for sale through their website. The buyers paid the company and received the transferred number, but the sellers, like you, were left stranded.
There was one excuse after another. The company stated that its phones were undergoing maintenance. Then all their payment systems collapsed. And at every turn, it was all supposedly the DVLA’s fault. I managed to recover £150 for a victim in December and posted a warning, but in January Click4Reg told its customers: ‘It is with deep regret that we inform you that Click4Reg Ltd has recently entered administration with effect from 28 December 2023.’
Surprise, surprise… although this was also false!
Click4Reg, based in St Leonards-on-Sea in East Sussex, was never in administration. And worse still, Emma Mifsud, director of insolvency firm Opus, told me: “The director of the company formally ordered Opus Restructuring LLP to assist with the liquidation of the company on October 18, 2023.”
That’s right: when Elie Fakhoury told him last November that a buyer had been prepared to hand over £6,000 for his license number, he had already drawn up plans to liquidate his company.
But it did not actually go into liquidation until April 30, by which time it was in the red to the tune of more than £755,000 and owed money to 651 customers. Does this mean that the company continued operating while its boss knew it was going bankrupt? The liquidators would say only that they have been preparing a confidential report for the Insolvency Service.
I’m sure the report will show where the clients’ money went.
You see, over £800,000 was lent to a company called The Sussex Exchange Limited. It went bankrupt in July of last year. And who was the owner? Elie Gabriel Fakhoury, of course.
The liquidators of this company reported two months ago that it had not handed over the company’s books and records, but had received claims from creditors totaling £1.8 million. Once again, investigations continue.
Both companies have debt judgments against them, but I doubt Fakhoury himself will run out of money. He celebrated his 41st birthday last Monday and still runs four more companies, although all four have not filed legally owed accounts, so no one knows if they will survive. Fakhoury was repeatedly invited to comment, but he did not say a word, nor did he even regret it.
Why didn’t I receive the Nationwide bonus?
Mrs. JP writes: I am 82 years old and have been a member of Nationwide Building Society for over 40 years. It was not included in the member bonus.
I complained that they were falsely advertising that all members were rewarded, when they are not. This is unfair. I’m worried this could happen in the future. Am I a member or not?
What you’re missing: At Nationwide, not all members are equal
Tony Hetherington replies: You’re a Nationwide member, but not all members are the same.
The society told me: ‘All of our members share in our success, and the Nationwide Fairer Share Payment is just one way to reward members who have chosen us for their everyday banking relationship.’
He explained that you qualify only if you have a qualified checking account and a qualified savings or mortgage account.
You have a Flex current account, savings and an Isa, so you’re sort of a second-class member. However, Nationwide’s website boasts: “When we win, so do our members.” This gives the false impression that membership is enough, when it clearly is not. It also advertises, “Our members decide how we operate,” which again is false.
When Nationwide paid £2.9bn to take over Virgin Money, it refused to allow its members any say. They could have taken the view that if Nationwide had found almost £3bn, it could have reduced interest rates for borrowers or raised them for savers. Virgin shareholders had the right to vote, but Nationwide members did not.
At its annual meeting, members could only watch online. If this is democracy, Nationwide could also abandon its headquarters in Swindon and move to Moscow.
After more than 30 years as a member, I am leaving.
If you believe you are a victim of financial irregularity, please write to Tony Hetherington at Financial Mail, 9 Derry Street, London W8 5HY or email tony.hetherington@mailonsunday.co.uk. Due to the large volume of inquiries, it is not possible to provide personal responses. Please only send copies of the original documents, which we regret cannot be returned.
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