An unsolicited email offering a fake cognac investment with Hoffman Chase leaves a very sour taste: TONY HETHERINGTON investigates

Tony Hetherington is the Financial Mail on Sunday’s top researcher, taking on readers’ corners, uncovering the truth that lies behind closed doors and delivering victories for those left out of their own pockets. Below you can read how you can contact him.

AT writes: I received an unsolicited email from a company called Hoffman Chase.

It claims to offer high return investments in cognac, but although it only appears to have opened in January, some of the positive reviews on Trustpilot must be fake as they refer to investments made months ago.

Tony Hetherington replies: Well spotted! Trustpilot had already removed some reviews for Hoffman Chase, but more remained. There was one from ‘Michael Peters’ who claimed to have invested last August: ‘My collection has already increased in value after a few months.’

And ‘Christie Reynolds’ told Trustpilot she invested last May, saying: ‘I’m quite new to this market, but I’m sure they’ve just gained a very loyal customer.’

I flagged these on Trustpilot and they are now gone. Trustpilot told me: ‘In the case of Hoffman Chase Ltd, our fraud detection software has identified and removed 43 fake reviews since the start of the year.’ The cognac company was given a warning and told to clean up its act, but this did not work.

Trustpilot said: ‘We have further evidence indicating that Hoffman Chase Ltd continues to acquire fake reviews.’ Another dozen have now been removed. Trustpilot has posted a consumer alert about the company on its page and demanded that Hoffman Chase remove the fake reviews.

However, the fake articles are just the beginning of the questions. Hoffman Chase tells investors that their cognac is safe because it is stored in the London Wine Tunnels, where it is fully insured. There is no such company as the London Wine Tunnels, but there is a real storage company called simply The Wine Tunnels, with branches in Kent and Wiltshire. Could this be it? Absolutely not, says director Sarah Labat. She told me, “We can confirm 100 percent that Hoffman Chase is not a client of ours. We have never spoken or had any contact with them and they are not a company we have heard of before in the UK wine and spirits market.”

And if investors’ cognac is safely stored and insured, how does this explain the curious statement shown by Hoffman Chase on a separate website at cognacinvestment.com? It warns that no one should invest “unless you are prepared for the possibility of losing all the money invested.” What could go so badly wrong that investors would lose every cent?

I asked this question and others to the sole director of Hoffman Chase. She’s Thea Hoffman, from Brighton, and I asked where she got her expertise in cognac investing, as the only background I found showed her working for a local estate agent. I also asked about the fake reviews, some of which are copied word for word from elsewhere. Until she took over and changed the name, her company was called Apex Gallery and owned by art dealer Ryan Marsh. The Hoffman Chase website that sold brandy didn’t even exist.

Hoffman responded, “This is extremely confusing. I will review your points and respond shortly.” But she didn’t answer any questions about her cognac, its storage, insurance or her knowledge of the company. Strangely, her only response was to blame unknown people who she believes chose to post fake reviews on Trustpilot. She told me, “It certainly seems like some of them weren’t really left behind. We have reported numerous unrecognized reviews ourselves and as you can see, these have been removed.’

The website states: ‘At Hoffman and Chase, transparency is the foundation of our philosophy.’ But only until someone asks tough questions, it seems. This cognac scheme leaves a very sour taste.

WE ARE KEEPING AN WATCH FOR YOU

Two weeks ago I reported that cannabis investment firm Orange River Capital had failed to pay out a promised dividend to investors who had purchased preferred stock.

The shares have been on the market since 2022, with a fixed dividend of 15 percent, but do not give investors a say in running the company, which is controlled by sole director Lee Farbrace.

I warned two years ago that the share offering document was full of untruths. Farbrace has not filed any bills since the 2021 one, which is a violation. Investors have been told that their money has been used to buy a minority stake in Greengrow Capital, a South African company reportedly operating a medicinal cannabis plantation.

Missing money: Cannabis investment firm Orange River Capital has failed to pay out a promised dividend to investors

Now, in a statement to investors, Farbrace has blamed his partners in South Africa for his own inability to pay investors, saying they were putting too much effort into research.

He told shareholders: ‘The undesirable effect of seeking a scientific breakthrough over profitability is that Greengrow has not commercially generated income to meet a distribution to Orange River Capital, and therefore ORC cannot pay its 2023 dividend .’ No accounts have been issued for Greengrow.

Farbrace’s solution is to ask investors for more money. He is offering the same fixed-dividend preference shares to raise another $1.2 million to support new management in South Africa, he claims.

He emphasizes that ORC owns 49 percent of Greengrow, but with no accounts for either, it is impossible to answer the question: 49 percent of what?

If you believe you have been a victim of financial misconduct, please write to Tony Hetherington at Financial Mail, 9 Derry Street, London W8 5HY or email tony.hetherington@mailonsunday.co.uk. Due to the large number of questions, personal answers cannot be given. Please only send copies of original documents, which unfortunately cannot be returned.