Several companies within The 79th Group - Administration

Several companies within The 79th Group, which operated a North West investment business, entered administration on 16 April after a fraud investigation by the City of London Police resulted in four arrests and the seizure of cash, watches and jewellery.

The 79th Group markets itself as an asset management company in the real estate, wealth, aviation and mining industries.

In late February, City of London Police revealed that they were investigating The 79th Group over suspicions of “widespread fraud” whereby the group was believed to be offering loan notes to investors with a high interest return over a fixed period.

Jeremy Woodside and Tracey Pye of Quantuma Advisory were appointed joint administrators to seven of the companies within the group, while Gareth Latimer and Stephen Cave of Grant Thornton Belfast were appointed joint administrators to one of the companies.

T&T Trustees Limited, various 79th Group entities and Land & Lakes (Anglesey) Limited have registered charges against one or more of the companies.