Perth Bullion Liquidation

Discussion in 'General Precious Metals Discussion' started by nighttrader, Jul 9, 2019.

  1. sammysilver

    sammysilver Well-Known Member Silver Stacker

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    This is not my fight so good luck with your PMs. However, we are stackers not orators, FFS can someone in Perth put together a group?

    Meanwhile, what can we take away from this? In Sydney there are a few private vaults. What if they went belly up? It makes sense to use them for SMSF where everything is documented and insurance is not a privacy issue. But, as to private holdings, is there a need for a "dark" vault owned and run by a collective? Perth Bullion proves that if you don't hold it, you don't own it.

    I'll put my thinking gear around this and talk it through at the next Stackeratti meeting.
     
  2. silverlining333

    silverlining333 Member Silver Stacker

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    Definitely ATO are the biggest crooks here, the Liquidators probably are as well.

    But I think the big surprise for me that the Perth Bullion guys are crooks too !!! Perth Bullion have set up an bank account after the company was put into administration but while they still had access to their website !

    So I and other repeat customers have paid into this new account.

    They did this to steal my and others money ! As they didn't even have access to the office or the their vault but the website was still taking orders and people's money.

    I also think it's ridiculous that the company has been put into liquidation for nearly a week but the website was still taking orders so trading as normal.... What the hell were the administrators doing to try stop him from stealing people's money from the website?

    I feel for Everyone in this situation, especially because I think we're asking a bunch of criminals For our money or metals back.
     
    Last edited: Jul 23, 2019
  3. alane

    alane New Member

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    INSURANCE
    So the liquidator recommended that you arrange immediate insurance.
    Unfortunately I think that is a good idea.

    Has anyone got any tips/links for companies that will insure items held in a SDB?
    What are we insuring against?
     
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  4. Gigrantor

    Gigrantor Member

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    I just want my products that I legally paid for, anyone intentionally thieving from me is a C word!!!
     
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  5. Captain Kookaburra

    Captain Kookaburra Well-Known Member Silver Stacker

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    Unfortunately, and I speak from experience, scammers prey on situations like this. They spoof email address headers and send emails to people already in panic mode.

    What's to say that someone (possibly even attached to the liquidators) sells a list of customers to scammers who then fleece any unfortunates who respond?

    Changing account numbers is a common attack vector. Unless we know who controls the new account numbers, we cant presume anything. Also the bank never compares the account name you give them, it is not checked. So they can call it Kermit the Frog Pty Ltd, but it really belongs to Gerard Turtletard. Try and verify ownership and the banks wont check for you citing privacy reasons. So if this happens, and someone changes account details in an email, be immediately suspicious and confirm through another verifiable channel, i.e. Phone.

    Don't assume these emails are from anyone connected to PB. The small amounts that come through would not be worth their while.
     
  6. alor

    alor Well-Known Member Silver Stacker

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    there should be two separate business , bullion store and safe boxes
    so when one side failed, the other side is intact
     
  7. Bullion Baron

    Bullion Baron Well-Known Member Silver Stacker

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    Pretty sure Lloyd's provides safe deposit box insurance, but you may need to go through a broker such as JLT: https://www.jlt.com/industry/specie-insurance

    However, I think at this point you would struggle to insure or if you can insure, then claim against a loss.

    Those who have a safe deposit box don't have access to it, how would you be able to prove to the insurer that the loss occurred after you took out the policy?

    Really awful situation and for those who have a substantial sum tied up in this mess it may be worth investigating the insurance angle, but it would be a bit like trying to take out a home insurance policy once the building is already on fire.
     
  8. mikthevik

    mikthevik New Member

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    I have my Self manage superfund with them. RSM are dogs and are lying can't be trusted. i have full records and an ATO audit every year with my superfund., Its ironic the ATO shuts down Perth Bullion, RSm take all the physical, then ATO will audit my SMSF and I won't have it, but they will! ATO are the criminals not Perth Bullion, they were very organised, I saw my box and records RSM are lying. Can we create a group of some sort with all of us stung by satan here and proceed with legal action together?
     
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  9. PMstack

    PMstack Member

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    10 am First Saturday of August out front if the shop.

    Alternatively we can do a Skype group, someone PM me their Skype address and I am happy to set up (needs at least one other to start the group)

    Who is interested?
     
  10. iceblue

    iceblue Well-Known Member

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    If there is a group of you, someone take charge and get it organized. NOW.
     
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  11. Bullionme

    Bullionme New Member

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    Count me in. I would suggest having a telegram group if anyone is able to set one up. That way we can stay in contact through our phones.
     
  12. Itsme

    Itsme New Member

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    I am, but I'm in Melbourne, so Skype will be the only option I have. This will also be helpful for people who travel, they'll still be able to attend. Can we PM in this forum?? (I'm obviously new to it)
     
  13. iceblue

    iceblue Well-Known Member

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    You will need to form a group and get legal rep.
     
    Last edited: Jul 23, 2019
  14. Itsme

    Itsme New Member

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    ... or telegram, but I don't have it installed. Shouldn't be a problem...
     
  15. Abossy

    Abossy Member Silver Stacker

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    I'm looking into setting a dedicated online site for SDB holders - Given the large amount of individuals affected (and many of those are obviously not SS members), I think we need a more central place which we can ultimately advertise to affected parties to register.

    PM me if you are a SDB holder - I will notify all of you as soon as it's online.

    In the meantime happy to meet up as suggested so we can start to plan next steps.
     
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  16. Captain Kookaburra

    Captain Kookaburra Well-Known Member Silver Stacker

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    I use Telegram for most projects I'm in.
     
  17. Bullionme

    Bullionme New Member

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    I have just set up a Telegram Group chat. Lets form a group there. PM me for link to the group.
     
  18. Gigrantor

    Gigrantor Member

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    I've lost over $1100 from these pricks and there's people that have lost much more than that.

    I haven't recieved any email responses from the online forms I've submitted and now no one is answering calls from RSM!

    I feel like I'm dealing with a bunch of thieves and vultures!!!
     
  19. fishduck

    fishduck Active Member

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    Are we talking about PB or RSM?
    If RSM, I'm curious as to their motive in making it difficult for everyone (sayings theres no records, not answering calls etc). Would you say its pure incompetence or ulterior motivations? I'm trying to think what RSM would gain here.
     
  20. ozcopper

    ozcopper Administrator Staff Member

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    I had records of all my purchases for several years... Until they took down the site. How can they say there are no records. I always took delivery and printed receipts so I am not effected but I can't understand how they said there were no records... Then they must have realised everything was saved on the site. Seems VERY sus to me.
     
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