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

Northumbria Police To Continue Crack Down On Rogue Traders

Northumbria Police have been cracking down on bogus callers and rogue traders over the past 4 week and it now seems that it will continue in a day to day capacity. 

The campaign named “If in doubt - keep them out” saw a total of 6,000 leaflets distributed in the streets by a number of volunteers who have aimed to make life easier for the vulnerable who have been targeted by these rogues. 

Chief Inspector Bob Ryan said: “Throughout the campaign we set out to get our messages across to as many people as possible, working with organisations who deal with the elderly and vulnerable to help us spread the word.

“The initiative may have ended, but our message remains the same - never hand money over to someone who cold-calls at your home and never let them inside.

“Anyone calling from an official organisation will happily wait or come back while you check their identification.”

Chief Insp Ryan added: “Look out for your relatives and neighbours and if you do see any suspicious vehicles or people in your neighbourhood you should report this to police as soon as possible.

“Every incident involving a bogus caller, illegal trader or fraudulent work that is reported to police is investigated immediately. These types of reports are treated as a priority, especially those involving an elderly or vulnerable victim.”

Anyone concerned they’ve been the victim of a bogus caller or are faced with a dubious tradesman, is asked to call police on 03456 043043 or in an emergency dial 999