Instant Access - The Scam Continues

Well there was us thinking we might be able to continue with the mammoth task of continuing the "Great Bait and Switch" article, when all of a sudden a couple of e-mails pop up about a new "saving" to be made from our chums who also like to change names, directors and companies at a moments notice, Instant Access. (or Inside Track, or IAP UK, or IAPG, or IAPI, or IAP Global, or indeed iaprops.com)

"Dear Client,

We have recently been contacted by a number of International purchasers requesting updates and assistance with the sales progression of their Spanish investments.

As you are aware, Instant Access Properties (IAP UK) were placed into administration in September 2008. IAP UK’s Spanish Subsidiary (also known as IAPI) continued to trade with their sole director being Maria Gifford. This separated the Spanish team from IAP Global (IAPG). We were saddened to learn that IAPI have ceased trading, closed their Spanish offices and let all their staff go. This has had obvious repercussions on the Sales Progression of your Spanish purchase. Accordingly, we approached the developers on your behalf to discuss their involvement in this process; unfortunately we fear they do not have the resources to offer such a substantial progression service.

As a result of this news IAPG will look to offer the Sales Progression Service for any purchaser on this development, in line with the existing Sales Progression Service offered to purchasers within the UK and other International markets.

You may or may not be aware, IAP Global Ltd was launched solely to continue being able to offer you access to outstanding property deals within the UK and abroad, and to ensure that we can carry on assisting you with the Sales Progression and completion of your existing property transactions.

Historically, under Instant Access Properties, the subscription fee charged covered services such as ongoing educational events, access to the IAP and Inside Track websites, customer service assistance, Sales Progression services and access to Aftercare Solutions vetted suppliers. In order to help you understand the value of your subscription payment, below are the benefits for your Golden Sun and Beach Resort development that the Sales Progression is currently making.

The team at IAP Global Ltd are constantly chasing developers, lawyers, mortgage brokers and lenders on your behalf every day. They are the "vital link" between yourself and all other parties relating to your property purchases.

The following benefits will only be available to the clients who subscribe to our Sales Progression Services.

· IAP Global will be visiting your development at the end of the May to review its progress and meet with the agents involved. A comprehensive report and associated images will be available.
· A dedicated Sales Progression Development Co-ordinator has now been assigned and is on hand to assist with any queries right through to completion.
· We anticipate build completion in September 2009 – this will be confirmed and assistance will be offered regarding the process of the ‘Habitacion Licence’.
· Preferential rates for furniture packs, snagging services and Management Agents and other associated third parties.
· Regular liaison with your selected management agency for the rental organisation of your apartment.
· MOST IMPORTANTLY – we are currently negotiating with commercial lenders direct for the mortgage finance. Direct contact with lenders often gives the best mortgage rates, and also negates the need of a broker fee!

Many of you receiving this email will have already benefited from this Sales Progression assistance. We understand that this is a challenging time for both individuals and businesses and we want to be able to continue to help you through it, with the best team possible.

The New ‘Subscription’ or ‘Sales Progression’ Fee:

We have spent a lot of time speaking with our clients at events held across the UK and we have spoken with many people about how much they would be prepared to pay for the ongoing assistance and service of IAP Global Ltd. As a result of these discussions we have now set our new fee schedule.

The cost of the IAP Global Ltd subscription is £1,500.00 + VAT. This is a one-off fee for the sales progression of your property(ies), replacing the old annum subscription charging system and entitles you to benefit from all "sales progression savings", irrespective of the number of properties in your current portfolio.

HOWEVER, as cash flow is so critical to businesses including our own, we are prepared to reduce this to £900.00 + VAT - if paid by 29th May 2009 (to coincide with the site visit). You can pay this sum by bank transfer, and cheque. You can also make a Credit Card Payment through our Sales Progression team on 020 8481 3561. You will also find our bank details below.

Please note that if you choose not to pay the subscription we will not be in a position to help you through the sales process to completion and we will not be offering site updates or mortgage assistance. You will be alerted of your completion date via your legal representatives, typically once legal notice has been served for your purchase - 10 days before completion.

For those clients that have paid this Sales Progression fee after contact regarding the rest of your portfolio, you do not need to do anything – YOUR PROGRESSION SUPPORT HAS BEEN COVERED.

Please be sure to put your name as the "transfer reference" from your bank.

{BANK DETAILS REMOVED}

Thank you all for your continued support of IAP Global Ltd. We look forward to speaking with you again soon.

Yours sincerely

A.B. McKay
GROUP MANAGING DIRECTOR"

OK. Let us see if we have got this clear.

Instant Access flogged overpriced property through expensive seminars. They also charged a fee for the pleasure of doing so.

Instant Access then goes bust after it's not so elaborate Ponzi scheme collapses. At this point Jim Moore makes some vain attempts in the press to quell the heat, starts up a new company using other directors, and is then rumoured to have siphoned off a bunch of cash to Panama that can't be accounted for. (We covered the joke of a proposal of rescue plans last year in "The Instant Access-Inside Track Saga Goes On and On")

Now we see this letter, and apparently more wheels are falling off the cart, they have no money, and to help their investors out they want more money!

One would think that Jim Moore and his cronies would have the sense to keep a low profile, but oh no. Nip along to their "Special Edition" blurb on their site and what do we see after endless waffle of theoretical equity, profit, discounts? Jim Moore has his name there, bold as day, just above the convenient disclaimer,

"Comments made are based on current tax law and may, (in fact almost certainly will), change in the months/years ahead. Material supplied has been carefully checked for accuracy but no responsibility can be accepted for inaccuracies or errors or from subsequent use of this material. Specific professional advice must always be sought based on your own individual circumstances. As always, the buck stops with you. We recommend you take independent advice before making any such decision.

The writer, IAP Global Newsletter and associated companies, do not accept any responsibility for any loss suffered by readers as a result of any such decision."

At least Dick Turpin wore a mask Mr Moore.