. Cost Reduction Services - Get Rich Quick Scheme - Exposing Rip Off Companies | Rip off Scams | Bad Business

Saturday, 21 May 2011

Cost Reduction Services - Get Rich Quick Scheme

An investigation by the Daily Record has exposed a rogue trader who was running a get rich quick scheme which saw nearly £100,000 taken from unsuspecting investors who were promised £4600 per month.

The "solution" involves remortgaging clients' homes or properties to free up cash for clearing other debts such as loans and credit card balances.

The "ponzi" scheme promised it's investors a £15,000 share in franchises in the business before they went bust with the owners, Stewart Kennedy and 3 dodgy lawyers pocketing the profits.

The owner of the rogue company, Stewart Kennedy who is a Former mortgage advisor Kennedy , from Quarriers Village, Renfrewshire,  has been made bankrupt twice and was charged with fraud previously however the case was dropped due to insufficient evidence.

Many staff of cost reductions services have complained that they were unpaid before being sacked.The business has no link to Surrey firm Cost Reduction Services Ltd.

The full investigation can be found on the Daily Record website

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