Painting Courses- Christmas Presents!

Hi

Just received my letter from Calidona with an update of how they will almost, soon be, attempting to build some properties!

What interested me most is their boast of '1,000 homes sold' That scares me, if everybody has paid similar amounts to them, as I have, €100,000, I make it that Calidona have put approx €100 million into their bank accounts for the past 18-24 months!

Any chance of some of the interest?

Stewart

Yeah, I received mine too.

I was also wondering the same thing!

Guys,

Just to advise you, Calidona do not have our money. The deposits you have paid out are secured by a Bank Guarantee which means that the money is held by their bank and Calidona will borrow money against it. At no time do they actually have your money. If Calidona go bust, the money will be returned to you by the bank and as this is a client money account, interest would be payable at that point. This was how it was explained to us anyway.

I spoke to Corvera and got a similar response; however the money will be accruing interest and assuming Calidona dont go bust and the Bank guarantees are not required, then its likely that they will receive the interest less an amount for securing the Bank guarantees in the first place.