Read Important Information About Les Dyson and Jeff Smith
TFP World Exposed
Growth through franchising, management services and consultancy,upside-down franchising – just some of the phrases used by Les Dyson of TFP World to describe what they claim todo. If you’re considering getting involved with TFP World with one of the positions they’re advertising which “require investment”, then you need to look into their background further. TFP World is the successor to The Franchise Group which was wound up by the British High Court in June 2008 owing Partners and suppliers huge sums of money.
TFP World, is what used to be The Franchise Group.
The Franchise Group recruited “Partners” to come and work within their so called franchise consultancy.In return for an upfront investment – anywhere between £30,000 and £60,000 – The Franchise Group offered the ability to earn a six figure income. The justification for the investment was to fund their so called marketing activities used to attract clients whose businesses were to be “franchised” using the so called upside-down franchising system. Problem was, very little was invested in marketing although the Partner fees – anywhere between £30,000 and £60,000 – represented the real revenue for The Franchise Group Directors. Some 60 Partners were recruited, lured by the promise of big incomes and big marketing support.
The Franchise Group was wound up by the High Court in June 2008 and is subject to a forensic investigation into the Directors’ by the appointed liquidator. The Franchise Group was also subject to an investigation by DBERR (Department for Business, Enterprise and Regulatory Reform).All those who invested, lost their money in entirety. Their initial investment and monies owed for work carried out. This was devastating for the Partners, many lost homes and suffered ill health as a result of getting involved with these people.TFP World, a company not registered in the UK, is effectively a reworked version of the The Franchise Group. Same upside-down franchising system, same Partner recruitment (investment required), and same Les Dyson and Jeff Smith .
A Business in Trouble or a scam ?
In September 2007 The Franchise Group announced that it was to be taken over by investors Les Dyson (CEO) and Jeff Smith (Chairman). To this day it is not yet publicly known what the details of this deal were although it was reported that the group was bought for £9.7m and that the company was to be floated on the Canadian stock market .
The floatation never happened and the exchange of monies is shrouded inmystery. What is known however is that shortly after the so called takeover. Creiditors and Partners stopped getting paid. By Christmas of 2007, some Partners were desperate. Many wanted their money back but despite continued assurancesthat payments would be made and investments refunded, they were never honoured .
The company attempted a CVA (company voluntary arrangement) but this was blocked by the creditors and ultimately the business was wound up. No one has received a penny of what they are still owed. And so it goes that following the demise of The Franchise Group, TFP World has risen from the ashes.
Click TFP World, for more information about TFP World, The Franchise Group and Rapid Results Marketing.
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