Hanover Merchant Capital Artesian Water – 5.29% per year plus “up to 30% aggregate market return” after two years for investing in mineral water

Hanover Merchant Capital is offering the opportunity to invest in lease-back contracts for the delivery of mineral water from an aquifer in New Zealand, which pay “annuity type” income of “5.29% guaranteed” each year. After two years, the contract is sold for which Hanover Merchant Capital projects “up to 30% aggregate capital return”, with the caveat that this is “subject to market prices”.

In email promotions, the investment is promoted as offering “NO Capital Depreciation” and “Secure Underwritten Investment”.

Who is Hanover Merchant Capital?

No details are provided on hanovermerchantcapital.co.uk as to who is behind the business.

Hanover Merchant Capital was incorporated in Switzerland in 2016 as Hanover Merchant Capital AG. The Swiss company registry shows that the two “registered persons” were chairman Tahar Keddech (who in May 2018 appears to have been removed as a registered person) and director Michael Gassner.

Hanover Merchant Capital was also incorporated in the UK in December 2015 as Hanover Merchant Capital Limited. The company is 100% owned by Bruce Rowan.

How safe is the investment?

These investments are unregulated commodity contracts and if for any reason Hanover Merchant Capital defaults on the promised payments of 5.29% each year, and Hanover Merchant Capital is unable to find a buyer for your water contract, and cannot make good on its “NO Capital Depreciation” promise, you risk losing up to 100% of your money.

The investment Hanover Merchant Capital is offering is a contract to deliver bottled mineral water from New Zealand. Hanover Merchant Capital says “we trade the water units on a matched bargain basis market trading with buyers and suppliers for physical delivery and transport”.

Commodities are in general an extremely volatile investment. Contracts to deliver bottled water are no exception.

As with any commodity, in 2 years’ time the contracts to deliver this water will only be worth what someone will pay for them. If Hanover Merchant Capital is unable to find a buyer for your water, you risk losing up to 100% of the money you handed over to buy the contract.

Hanover Merchant Capital’s promise of “no Capital Depreciation” is only as good as the company backing it, in this case presumably Hanover Merchant Capital. No details of Hanover Merchant Capital’s financial strength are provided in the investment literature.

Very little mention of these risks is made by Hanover Merchant Capital. The literature also states the investment offers “annuity type income”. Annuities, at least from a UK perspective, are insurance contracts which are guaranteed by regulated insurers who have to meet solvency requirements, and receive 100% protection from the Financial Services Compensation Scheme. Hanover’s water investments are unregulated and have no FSCS-protection.

Illegal financial promotions

Providing financial promotions in the UK requires the company to be regulated by the Financial Conduct Authority.

In their “About us” page, Hanover Merchant Capital claims

The origins of the company started over a decade ago (at the time regulated by the FSA now the FCA) dealing as a financial investment house for private equity clients based in the city of London and the Isle of Man but due to growth and expansion the company merged the private equity division with an International Fund Management company and de-merged the property group which today consists of HMC Holding AG (subsequent FSA regulation was transferred with the equity business separating from the property group). The company de-merged the commercial and residential property asset management portfolios in 2009.

I have read this ludicrous run-on sentence twice and I am still none the wiser on where the FCA/FSA regulation is supposed to have been transferred to – Hanover Merchant Capital in its present incarnation or the other unspecified business(es) which were de-merged from this incarnation.

The UK, Swiss and Liechtenstinian registries show that neither Hanover Merchant Capital Ltd, Hanover Merchant Capital AG nor HMC Holding AG (a company registered in Liechtenstein) existed prior to 2015/2016. Nominet shows that www.hanovermerchantcapital.co.uk was registered in August 2016. Hanover’s waffling on about mergers and de-mergers with unnamed companies does not change the fact that there is no concrete evidence that Hanover Merchant Capital existed prior to 2015, much less 2009.

Hanover Merchant Capital does not provide an FCA registration number on its website, nor does it disclose its regulatory status in emails. A search for both Hanover Merchant Capital and HMC Holding on the FCA register provided no results. The inescapable conclusion is that Hanover Merchant Capital is offering financial promotions despite being unauthorised to do so in the UK or any other country in which it operates.

Under the Financial Services and Markets Act, it is a criminal offence for an unregulated firm to offer financial promotions to the UK public.

Should I invest with Hanover Merchant Capital?

This blog does not give financial advice. The following are statements of publicly available facts or widely accepted investment principles, not a personalised recommendation. Investors should consult a regulated independent financial adviser if they are in any doubt.

As with any unregulated investment into individual commodity contracts, this investment is only suitable for sophisticated and/or high net worth investors who have a substantial existing portfolio and are prepared to risk 100% loss of their money.

Any investment offering 5.29% per annum yields plus a projected 30% return after 2 years (a total projected return of 19.3% per year) should be considered extremely high risk. As an individual security with a risk of total and permanent loss, Hanover’s water contracts are higher risk than a mainstream diversified stockmarket fund.

Before investing investors should ask themselves:

  • How would I feel if Hanover was unable to find a buyer for my water contracts, pay the promised 5.29% returns or back up its “NO Capital Depreciation guarantee”, and I lost 100% of my money?
  • Do I have a sufficiently large portfolio that the loss of 100% of my investment would not damage me financially?

If you are looking for an investment which guarantees “no capital depreciation”, you should not invest in unregulated investments with a risk of 100% loss.

170 thoughts on “Hanover Merchant Capital Artesian Water – 5.29% per year plus “up to 30% aggregate market return” after two years for investing in mineral water

  1. No, it’s not safe, it’s an investment in commodity contracts. If all goes bad then you don’t get your money back. That’s what going bad means.

    What does Alliance Southern Lien Securities have to do with it?

  2. Their Web page is down for “Restructuring” what does that mean? All investments are risky except banks and building societies. One’s got to rely on the INTEGRITY of it’s CEO (owner).

  3. Their Web page is down for “Restructuring” what does that mean?

    Could mean anything. Have you asked Hanover Merchant Capital?

    All investments are risky except banks and building societies.

    A meaningless statement equivalent to saying “all water is wet” to justify jumping off a cliff into the sea.

    All investments are risky. Some are medium risk, such as regulated diversified non-geared stockmarket portfolios which have minimal risk of permanently losing money, providing the investor doesn’t panic and cash in. This is an ultra-high-risk investment which has a risk of permanent and total loss if no buyer can be found for your water and Hanover Merchant Capital fails to meet its promise of “guaranteed” returns.

    One’s got to rely on the INTEGRITY of it’s CEO (owner).

    The integrity of the CEO is almost at the bottom of the things you should be relying on. As this is an investment in a company promising a fixed rate of return, what you should be relying on is professional due diligence into the company backing the “guarantee”, including
    * its debt cover ratio and other indicators of its ability to pay its debts
    * its projections of future earnings
    * audited monthly management accounts showing its projections are reasonable.

    And, as this is an investment in commodity contracts, you can add the demand for bottled water in two years’ time.

    Confirming the integrity of the CEO should be just a small part of the start of the due diligence process, an insignificant formality. Plenty of companies have had impeccable CEOs and still gone bust.

    Last time I checked the CEO of Hanover Merchant Capital was unknown in any case. Their website (when it was up) did not disclose who was behind the company. The Swiss company registry identifies a couple of directors but not which is CEO.

  4. I suspect they’ve gone into hiding. They won’t respond to phone calls or emails. I’ve been trying to get my money back for months so I’m not surprised.

  5. I havent had my interest payments for sometime now and I have been chasing but have had no reply either something is wrong here. I was thinking of physically going over to their offices to visit as everytime I have called I have been told they are busy with a client or on a call

  6. Which office were you thinking of visiting? The UK address registered with Companies House (Office 7 35-37 Ludgate Hill EC4M 7JN) is shared by over 1,500 companies, which means it is very likely to be a virtual office.

  7. I have also thought about going to the Ludgate Hill office but there’s no guarantee anyone will be there. I don’t want to lose a days pay and travel costs for nothing.

  8. I have not received my interest this year and no one has answered my email, I think this company is a big con, don’t send them any money

  9. I have eventually received interest on my investments but only after making many phone calls and emails. I have had sleepless nights worrying about this company and their lack of response to all enquiries and now that their web site is down I am beginning to feel even more concerned. This morning I have made calls to Thomas Lucas and Bruce Rowan and left messages asking them to phone me back. I will send another post and let you know if I ever received a reply.

  10. Not recieved mine yet for a few months – I did get a call back advising of high costs due to the move from Africa to Newzealand and that I will recieve a call this week – yet to recieve that – there are a number of addresses … so not sure yet

  11. Originally it was for 5 years eith a get out after three, I don’t know why they moved to New Zealand, I am hoping that my interest shows up soon but I’m not holding my breath.


  13. Thanks for the heads up Shan.

    Technically this is a petition to wind up. If the petition is granted by the court, the company will be wound up and any assets – if any – distributed to creditors. A strike-off is when the company is removed from the Companies House register and ceases to exist; if it has any assets (which would be unusual) they are forfeited to the Crown.

    The Swiss company has been in liquidation since October.

  14. I have been assured by Bruce Rowan that all investors will the given the opportunity to have their investments repaid early in 2019. He said people should begin receiving letters at the end of January. Has anyone else been told this?

  15. I have had about 2 – 3 calls from Bruce, no one else i.e. either Thomas Lucas or Robert Johnson calls me even though I have left multitude of messages. Last call I had was week before last and nothing since. I have been told that all investors will be given an option maximum by june/july but I am so sceptical as there is no information to go by just the calls

  16. Well I am constantly leaving messages on Bruce’s mobile phone, text messages and also with the girls on 02032827188 I bet they are tired of me but I want answers

  17. Michael have you contacted them if so what did they say ? I might contact them when I go back home today to see if I get a response – I am still constantly leaving messages for a call back; the last call I got was 2 weeks back

  18. I’ve just been told by the Bankruptcy Clerk that the winding up petition has been adjourned to 14 February.

    Continually ringing Hanover Merchant Capital is unlikely to achieve anything except more stress. Your options boil down to either a) write off the money or b) take legal advice and risk throwing good money after bad.

    You invested in an unregulated firm which made highly misleading statements about its investment offering and it is very possible that your money is gone.

  19. The landline number printed on hard copy documents 0203 282 7188 is a call forwarding company based in Wales. They can only email them, have no number. Smell a rat?

  20. If on 14th February the petition to wind up the company is agreed are creditors like myself likely to be contacted at all

  21. Correction to my last post I am not a creditor but an investor in products of Hanover Merchant Capital

  22. That makes you a creditor due to Hanover Merchant Capital’s promise to pay you 5.29% of your investment a year. Assuming you invested in the product described in this blog. If a liquidator is appointed you and all the other creditors should be contacted.

  23. When taking out the bonds I was also told that a insurance policy which would cover us this was provided by Alliance Southern Lien Securities L.L.C and have the documentation aside from the contract for this.
    The annual premium was £185 and 5 year cover was £925
    Would it be worth contacting them as I have an email address to see if its still in force and also if there is any cover at all for us the creditors

  24. No insurer acts as a guarantor for an unregulated investment scheme and potential multi-million pound liability for £185 a year.
    Upload the documentation to DocDroid or another PDF upload site, post the link and we can tell you whether the policy does what they claim it does.

  25. I will attempt to upload the documentation I have in the meantime I notice its headed up not as a policy but as A Deferred Consideration Bond not sure what relevance this has

  26. I am also an investor and have not received my annuity despite calls and emails I am being ignored – Bruce Rowan does not return calls or answer emails,in addition to not receiveing any annuity I guess I have to kiss goodbye to my £40,000 which was my entire wealth

    Green i may have been but I am seeing red now!

    is there nothing that can be done?

  27. Trouble is the assets of the company are only around £233,000 and your investment and mine cover around just half of that and we I expect many other large investors out there so its not good.
    I am having someone look into this surety Insurance policy but we don’t even know for sure that the premiums were paid.
    It will be interesting to see what happens on the 14th February when the petition to wind up the company is heard again.
    In saying this I’m not hopeful and for me I have made a huge life changing mistake

  28. I am glad I only made a taster investment, and was suspicious when I was offered more at a 20% discount. I feel sorry for all those people who invested large sums of money with this company

  29. I am seriously considering attending the Bristol High Court to witness the outcome of the winding up petition on 14th February
    Hoping some like minded people will be there not sure what it will achieve apart from knowing the outcome

  30. Hi guys, me and my husband are in the same situation like all of you. We made an investment of 18k and they never return our calls or emails. I’m waiting and hoping that after 14th Feb we can see some money back, at least part of it.

    I’m not sure how the assets will be be divided between all of us so i cannot say how much we should expect.

    If anyone hear something from the the court of if you guys receive something let us know. It will be helpful.

    Finger crossed.

  31. Despite been given assurances from Bruce Rowan that all investors will be “settled in full with accrued dues” it seems unlikely this will happen. I’m afraid my faith in human nature has taken a nosedive and just hope that we can all get something out of this mess. As Alexandra say let’s all keep one another informed.

  32. Hi Steve,
    How did you manage to get in touch with Bruce Rowan? Or how did you hear that he is promising a full settlement to the investors?
    That would be helpful if you make us aware of the source you have.
    Is there anything public online somewhere?

  33. I was told by Thomas Lucas when making the investment that it was impossible to loose the capital because that was insured – is this a lie?

    I was told by Robert Johnson that Bruce Rowan would be in touch within a week to explain and let me know when my annuity would be paid – another lie – never phoned me and wont return my emails or telephone calls

    All deathly quiet since November last year

    Girls on the end of the phone are obviously sick of the situation – cant blame them.

    Bruce Rowan (bruce_rowan@eircom.net) does not respond.

    There must be some legal route that can be taken to place him into a position to repay surely?

    When banks lied to customers about PPI for example the law made them repay – so how can these guys get away with lying?

  34. They have a business bank account in Barclays.
    This situation makes me question the due diligence that Barclays makes on businesses.
    Or they give a bank account to anyone even to the worse fraud business?

  35. Alex,
    I have received 3 txt messages from Bruce Rowan since the 1st Jan all stating that our investments will be repaid in full. He has “been consumed with paperwork and process to set up complete settlement of all our clients to a total of approx £3 million” etc. That was his latest message.
    I, or my wife have called or txt him every day since the start of the year so I guess we’ve been lucky to have got a response.

  36. I have just returned from a 300 mile round trip to Bristol justice courts to sit in on the petition to wind up Hanover Merchant Capital. Mr Rowan was not present and the Judge ruled to approve the petition.

  37. Yes, totally agree with Steve, Andrew. That was a stellar effort on your behalf, sorry it turned out so bad

  38. Does anyone know how things will go now? If someone will write to us about the money we invested and give us some updates? Or we need to get a solicitor for this?

  39. “What now” – an official receiver will be appointed to liquidate the company’s assets, if any. After collecting their fees, anything left will be distributed to creditors.

    Investors would be well advised to write their investment off and treat anything recovered as a bonus. It is very likely that the money is long gone.

    Investors should beware of recovery fraud. If someone contacts you claiming they can get your money back it is highly likely to be a scam. They will ask for “legal fees” or “liquidation fees” which you will never see again.

  40. The last comments are exactly the way I am now treating this Assuming the money has gone and treating any that might come my way as a bonus

  41. This was his reply when I asked whether the liquidation was compulsory or voluntary.- he said…..

    “a considered voluntary decision but your contracts and all water assets have always directly been held/protected in the offshore trading company so nothing has changed as far as your funds and contracts are concerned …. HMC was simply an administration company on behalf of the contracting asset holding offshore company and given that there is no requirement for further funding but instead a full refund of all investors funds with accrued interest is intended for end of July …. HMC is no longer required and decision was taken to let it go …. I will be directly managing existing relationships here in the UK until July when all contracts are settled in full”

    I’m not sure if I fully understand everything but they may be light at the end of the tunnel!!

  42. What offshore trading company? Hanover Merchant Capital has three corporate entities that it has disclosed to my knowledge: Hanover Merchant Capital AG (Switzerland), which is already in liquidation, Hanover Merchant Capital UK Limited, which is now in liqudation, and HMC Holding AG in Liechtenstein, which would appear to be all that’s left.

    Is there any reference to another company on the contract notes investors received when they invested?

    There is nothing “voluntary” about the winding up. A creditor petitioned for the UK company to be wound up, the judge granted the order. Not showing up in court to defend the petition doesn’t make it voluntary.

    The most important facts that have not changed are that Hanover (in whatever guise) is still not making payments as promised and its website is down.

    Investors need to decide what they intend to do in July if they have still not been paid and Rowan says “something something you’ll be paid in December”.

  43. Don’t hold your breath, seems like everyone is being given the runaround. I will consider myself lucky if I ever see a penny back

  44. Only other name on contract is inverthorn International Ltd where we transfered our monies too they are supposed to be a division of HMC

  45. Hi Sevecoates,

    Would you give me his phone nr, i would like to have a chat with him too.
    Let me know if you are willing to so do.
    thanks in advance.

  46. Hi All

    I have had a call about a week back from Bruce re assuring me regards the payments back to all investors in July – I am constantly ringing and messaging him and do end up eventually getting a call back. I was also advised the contract is direct with an offshore company am waiting for call back again as advised but on the voice mail he left he is looks like he is coughing his guts out


  47. Alex – his number is 07513 677638.
    Bruce Rowan rang me yesterday and left a message that reaffirms everything he had already “promised”. I am more hopeful than I was but I guess we will have to wait and see.

  48. The boy Rowan shows promise. It takes some cojones to have two of your companies put into liquidation and persuade investors that this is a good thing.

  49. If you think you are going to get anything back from guy this then I have some oceanfront property in Montana you might be interested in.

  50. could you guys that keep posting the updates of whts happening with our investments keep up the good work as its helpful to people like me whom are not very good on the computer, appreciate all the information and up dates,

  51. There are clearly a lot of people affected by this “mess” – would it not be possible to set up a WhatsApp group rather than using this site?

  52. I’m assuming that as the winding up order has been upheld, that all investors will formally be advised of the decision, together with what, if any, the next steps in the process are, or am I being overly simplistic, (shrug)?

  53. appreciate all the information being shared, could we continue to make all of us that have invested money into this company aware of any new developments and any action we may have to take, so afraid i might get lost in all this and miss important information that could potentially lead to us recovering our investments.

  54. Absolutely agree. And I am also keen on the whats-app group – does anyone know how to set that sort of thing up?

  55. Would it be worth contacting Inverthorn International where our Monies were paid to asking if they are aware of the claim by Bruce Rowan of repayment in july

  56. How do you know that our money were paid to Inverthorn International ? Is it says anywhere in the contract?

  57. Hi All, Also effected. No email replies since end December.
    Did anyone set up a Whatsapp group?
    Or shall we continue use this article comment/ update each other?

  58. I can create the wp group. My nr is 07775245123. send me and sms over and i will add you to the group

  59. nr = mobile number

    I have dropped SMS to Alexandra – so she can set up the WhatsApp group – I urge you all to do the same

  60. As investors are going off-site I would remind them to watch out for recovery fraud.

    It is highly likely you will be approached – via the WhatsApp group or otherwise – by people claiming they are liquidating the firm, or organising a group legal action, or buying the water contracts. After gaining your trust they will ask for money for “legal fees” or “liquidation fees” to return your investment, which you will never see again.

  61. Hi everyone I invested 10k into this little lot. I have phoned written letters and emails Bob Lucas always in meetings. Mr Rowan will be sorting this out for us in January 2nd week so their email to me indicated. Always in meetings longest meetings ever??? Well I strongly feel I have been had conned can’t really afford it. Have contacted, FCA, no help did reply though, Action fraud UK??

  62. Hi everyone have just phoned Mr Rowan from the number Sevecoates has given us. left message couldn’t answer my call. Same old.

  63. Have any of you guys like myself who have invested in this company received any official letters from Hanover? stating the current position of where exactly they currently stand and what their intentions are with us investers getting our investment back. Seems that we have been completely ignored! Would have thought out of common decency us investors should have received some sort of communication on what is happening. So worried i like others are going to lose our hard earned money. If any investors know more information could they please share it to keep us up-dated.

  64. I have been chasing them via email and phone since October last year and just been totally ignored – complete scam – they must have known that no money would ever be repaid – its a bloody fraud

  65. Did anyone receive an email regarding HMC from a guy called Seaton Gray? Says that Rowan will be in touch soon bla bla bla everyone will get their money back bla bla bla?

  66. Yes I just recieved an email also stating that ;
    Currently the international corporation is targeting mid-year for the return and full repayment of all current investor funds and interest and is already in the process of creating cash liquidity to settle all outstanding water commitments directly.
    In the meantime, Mr Bruce Rowan will personally directly take on all client liaison and management across the UK and Europe so there is continuity and reassurance for all investors.

  67. Doesn’t say who the international fund is though and this gray chappie is a ghost

  68. Hi
    I just recieved the mail to and still awaiting that call from Bruce – I will chase him again today – apparently as per the email we should be getting something in post from Bruce

  69. Call me naive but I believe that this is a genuine response to all the calls & emails we have all made. Lets hope we will all get our investments back and move on!

  70. Andrew check your junk folder
    My email was in the Junk folder from this Seaton guy

  71. I would suggest that you Google what happens when a company is wound up, it doesn’t make for please try reading.

  72. I would suggest that you all Google what happens when a company is wound up, it doesn’t make please try reading. Getting any money back is highly unlikely

  73. Totally agree the likelihood of retrieving any monies is small and unfortunately I believe we’re being
    led a merry dance by MHC

  74. My husband and I have invested, We had an e-mail sent to us on March 1st,saying Mr Bruce Rowen would be writing to us informing us about telephone and e-mail contact and mailing addresses concerning this,has anyone had any such letter yet?
    No comments have been posted since March 2nd

  75. Andra Johnson Please scroll back through this thread as a WhatsApp group has been established. To be honest it’s still just whats/ifs and maybe’s with what appear to be a buncj of missed deadlines and promises from Bruce Rowan, but at least it will bring you up to date with the pain that we’re all experiencing

  76. i went into admin enquiries and got a reply from R HILL basically it said that he and other staff were finished.leaving bruce to sort it all out which he said that is being done.hopefully we are going to get our money back plus whats owing.

  77. This response was it from the London office? Also to be clear did he actually say that we should expect to get our money back or is that your presumption.
    Do not want to get my hopes up

  78. I hate to be a spoilsport but there has been no mention of receivers or liquidators since the company was wound up, seems to me that all there is floating around are empty promises.

  79. The Official Receiver is winding up the UK entity (Hanover Merchant Capital UK Ltd).

    They generally publish their initial report within 8 weeks of being appointed, so you should expect to hear from them in April or May 2019.

    The Swiss entity was simply dissolved. Bankruptcy proceedings were terminated because it had no assets to recover.

  80. in reply to Andrew I had an e-mail from mr hill who assured me that bruce was dealing with outcome and was expected to pay us all back.
    I don’t understand that not one person from the company has contacted any one of us
    this cant be right

  81. Apparently Bruce is supposedly sending an email to all of us in next couple of days clarifying situation re expected return of funds by July end latest. All staff have left HMC which he claims is just admin office not holding company. If nothing happens this week I have my doubts it will

  82. ok we are all at a loss there must be some way we can track down or get some one to do it for us.
    there must be quite a few of us who haven’t received any monies.HOW ABOUT FACE BOOK IN OUR AREAS TO FIND THESE SO CALLED PEOPLE.

  83. are we being refunded mid year as i received email few months back stating our investment safe and process of refunding is underway , anyone else receive this?

  84. The last communication I had was that the guy in charge had been sick. No further information has been forthcoming. Don’t hold your breath, I’ll believe it only when the cheque has been received andcleared

  85. I have written a letter to Barclays Bank in London asking them to freeze the assets and got no reply,then wrote again to their headquarters in Leicester asking them to do the same again.I am awaiting their reply – that was just a couple of days ago.I know an account does exist as an agent confirmed that it did,but would obviously not disclose the amount in the account,could just be a nominal amount.I contacted the Fraud Squad,absolutely useless,they say they are looking into it,but that was about 6 months ago.

  86. Banks do not freeze accounts because some guy off the street asked them to. That requires a court order. Realistically the only person in a position to get accounts frozen is the Official Receiver when they investigate the dealings of the UK entity.

    When Action Fraud receive a report they add it to a file, and if enough reports are received about the same case they open an investigation. When you make a report to Action Fraud you should not expect to hear anything back beyond a standard acknowledgement.

  87. Of course Brev the bank are not going to freeze the assets because of one guy,but my hope was that many more creditors would have done the same thing,contacted the Fraud Squad,written to Barclays Bank and maybe together this would have brought a response.As you said the Fraud Squad act when they have enough complaints.The banks now are meant to have a more understanding attitude to victims of fraud because of all the scams taking place.

  88. The understanding attitude is to people who, for example, transfer a load of their own money to someone else who turns out to be a scammer who fed them wrong bank details. Historically the position has always been that the bank is not liable, but the increasing arbitrariness over when your bank has to bail you out and when it doesn’t means there is political pressure for the bank to be made liable more often. The threshold for freezing someone else’s bank account remains high.

    Action Fraud may eventually take action if they get enough reports and if they find evidence that fraud has taken place, but even if they did, you might not hear anything about it for years.

  89. could someone give the details of the whatsapp group please? just wondered if anyone more up to date on whats happening with getting our money returned as the email a few month ago informed us. How long do we leave this? email stated should get our investments back plus interest due around july, anyone hear anything different?

  90. The whatsapp group is HMC liquidation as an update some people have had notification from receiver indicating there is no monies available for us. Some are also considering legal action shared costs between many of us may mean its between £100-£200 each waiting to find out more details from solicitor and precise costs after Easter

  91. Alexandra, would you please add me to the watsapp group – I have text you on the number you provided.

  92. HI = can anyone confirm as to whether this Watsapp blog has been set up yet please? I have text Alexandra, but heard nothing back. Many thanks

  93. Hi I’ve just found these threads, my mother has invested £20k. I have done a background search on Bruce Rowan and he has 19 dissolved companies/directorships. He must have assets. I’m going to contact fraud squad and HMRC I will personally hunt this man down to the ends of the earth

  94. Does anyone know if the group WhatsApp has been created? I’m thinking Group litigation proceedings against Bruce Rowan as it’s criminal so potentially could have his assets frozen

  95. are we to wait and see if our investments are paid out by july as promised or what’s the next move? anyone got any ideas of where we go from here? We cant let this go surely?

  96. Pat, please try and join the WhatsApp group as there is a wealth of information being gathered on there. Bottom line is that many people have been taken for many tens/hundreds of thousands of pounds and it would appear that Bruce Rowan has done this many times before and has now disappeared. As it was an unregulated investment we are not covered by any financial ombudsmen, but that’s not to say that we do not have a fraud case to pursue. I’m paraphrasing the WhatsApp dialogue, so please try and get on this and you can trawl back through the various exchanges. Hope this helps!

  97. Anyone who hasn’t joined the WhatsApp group then please text Alex on number listed in threads above

  98. “Hanover Merchant Capital is offering the opportunity to invest in lease-back contracts for the delivery of mineral water from an aquifer in New Zealand, which pay “annuity type” income of “5.29% guaranteed” each year.”

    What’s an annuity “type” income? Annuities are retirement income products, sold by insurance companies. The nearest thing I could come up with for “an annuity type” is what is termed a “fixed term” annuity with a maturity amount at the end of the term.

    But why describe this as an “annuity type” – which really says it isn’t an annuity but is disguised as one?

    Are they describing this product as 5.29% per annum AND at the end of the term your capital might have grown – 30% in 2 years?

    Is “annuity type” a phrase being used to try and circumvent FSMA s.235 and not call it a “collective” – which is what it looks like? Operating a collective is a regulated activity and must be authorised by the FCA. And what do you suppose the FCA are doing about it? Didly Squat, as usual!

  99. Has anyone else received an email from Bruce Rowan promising payment at end of July.

  100. Yes I did, and what a relief. I remain convinced that BR will deliver as promised but obviously until the money is returned ……..

  101. Another procrastinating bunch of horse shit! That guy is some piece of work! If you believe anything in that email then you are deluding yourself – it’s just more mendacious crap to keep us lot calm while he makes plans to disappear with all our money!

  102. @Steven

    HMC’s illegal investment scheme is in liquidation. The scheme has been rebooted as Liberty House Capital to attract a fresh load of marks. What more do you need, a smoking crater with a sign saying Hanover Merchant Capital? When July rolls around and Rowan tells you that he’ll pay you in January 2020 (just as he did when he claimed he’d repay investors in January this year) what’s the plan?

    Have any HMC investors by any chance been contacted by Liberty House Capital?

  103. Sorry Phil & Brev but I do have faith in BR. Maybe it’s misguided but it keeps me optimistic. If you believe that your money has gone and he’s talking horseshoe then fine.

  104. I had an e-mail from Alexandra saying that she together with her husband and one other person had a meeting with Bruce Rowan on 23rd May. Unfortunately I have not been able to get any further information what the outcome of the meeting was, just to send her my details to be passed on to Mr Rowan.
    Has anyone else got any more information?

  105. Rowan already has your details…

    Just a quick note regarding something that was posted a few months ago and I missed at the time. A few commenters referred to paying money to Inverthorn International Limited.

    Inverthorn International Limited does not exist and has not existed for seven years. The Irish company registry shows it was dissolved in April 2012. Bruce Rowan was also director of that firm. No other Inverthorn International shows up on opencorporates.com.

  106. Hi, i’m waiting to get added to the Whatsapp group and have read through the messages left here. Does anyone have an update since the last reply on here?

  107. if Alexandra and her husband plus one other had meeting with bruce would they like to share the information with the rest of us who have no correspondence at all.
    if I knew of where he lived I take time out to visit this man.
    I have invested like others my savings

  108. Hazel and Peter could you please text Phill on 07790194145 to be added to the WhatsApp Group as we can share private info on there

  109. Dear All
    I too made the mistake of investing £15,000 with this company, I phoned them in November as I had a suspicion something was wrong, they assured me all was okay!
    On the 15th May 2019 I got an email from Mr Bruce Rowan assuring me that he is doing all in his power to make good on all investments, not heard any more from him.
    The mobile number he gave me is 0785 1000 714 , also an email address : br.hancap2019@gmail.com
    Last night I emailed him asking for a group meeting so that he could explain face to face what has happened to our monies, I’m not holding my breath on that one , and sadly I don’t think I will ever see my money again, which for the record was part of my retirement fund.
    Could all involved please keep me informed should any news become available , so as to try and recover some of what has been lost.
    Before I forget Mr Johnson told me that all investments were under written , if this were the case then our money would be returned, so far no money.
    Kindest regards to all involved
    Mark W

  110. Hi! I have invested in Liberty House Capitol Which is suposed to be insured against loss by Allied Southern Lien Securities. This company ceased trading 1st march 2019. Therefore the contracts are broken and Illegal. I would like very much to contact the Whatsapp group to give thease con artists some grief. Can anyone help

  111. Hanover Merchant Capital was put into liquidation in early March 2019 (or more specifically the UK shell company was, its Swiss entity was struck off several months before).

    The reboot, Liberty House Capital, is still trading as far as I can see (nothing on Companies House and website still up).

  112. Anyone wanting to join the WhatsApp group drop me a text 07790194145

    After joining the group introduce yourselves and then someone will give you instructions about what authorities to report this fraud to and how to go about it – the more people that report this then hopefully the relevant authorities will take it seriously


  113. There are posts in this thread from investors who are not in the HMC Group Whatsapp
    Michael Hill
    Jimbo James
    Eamonn Rafferty
    John Mansfield
    Andrew Winson
    Artesian Watergate

    If you are interested in joining the group and want an update on progress please text or call Phill on 07790194145

  114. Hi One and Ali
    I have just caught up wtih news of HMC,having been unwell for most of 2019.I “invested” 5K, a fraction of some of your “investments”.I wish you much luck but suspect we will not see a penny returned to us.Bruce Rowan is a gifted conman,in my opinion,but he will get his “comeupance”,Wel deserved.He has conned a great may innocent,gullible people and will get punished in due course.
    God Bless
    Barry G.

  115. Hello fellow unlucky investors, I had a very strange email from BR in May which made me hopeful. I have emailed and phoned his number but no response. I don’t think any of us will see a penny of our money. However, I am determined to try my best to get justice for all of us. I have reported to FCA who also suggested to report to Fraud Action.
    Phil, I have emailed you and Alexandra to be added to the WhatsApp group please.

  116. Hi guys…yes another idiot who thought the company was legit…only just came back from being overseas most of my life and didn’t know about the FCA or FSCS. Have just sent FCA my details and records of conversation and e-mails with BR and co. Will have to wait and see what happens. Honestly didn’t think an annual 7.85 % return was over the top but just goes to show..Regards Adrian

  117. Who are you… for all I know you are part of HMC and are looking to keep tabs on what’s going on.! My number for WhatsApp is 07714818280

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