Summary
J. R. writes: I put 1,000 into high-risk, unlisted shares in Golden Goal International plc, which I accepted could pay a good return or vanish without trace. Early this year, I was informed that the company was being taken over by Global Satellite Broadcasting Inc and I accepted the share-swap offer. This month, I have been told the new company is being bought privately, multiplying my investment hugely. But there is just one snag I have to pay $4,000 (2,000) to a transfer agent before I can get my payment of 34,000. Needless to say, I have kept the 2,000. I am philosophical and realise I should have put my 1,000 on a horse at 100-1, at least it would have been in the race.
I'M glad you are philosophical about losing 1,000 and even happier that you have not thrown good money after bad.See the full content of this document
Extract
I Wish I'd Risked a 1,000 Bet On a Hopeless Nag
There are some genuine businesses with Golden Goal in their name, but the one in which you invested was dodgy from the start. All of its addresses in Cathedral Road, Cardiff; Regent Street, central London; and Admirals Way, east London, were short-term lets or 'virtual offices'. The company was never even register...
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