R2i (Ready 2 Invest ) was set up by Alise and Jonty Crossick in October 2003 as a UK-based property company specialising in marketing and managing overseas property opportunities to UK based investors.
In 2004, R2i expanded into Eastern Europe (via Jersey based property funds) followed by overseas off-plan property sales activity in Spain and Bulgaria.
R2i marketed and promoted over 70 different schemes of which the vast majority failed – leaving investors with significant financial losses (estimated to be over GBP 100m).
We believe this is one of the largest alleged frauds in the UK that has not been properly investigated.
The final R2i project was Valle de Uco (a 310 hectare land development near Mendoza, Argentina) which attracted around 100 investors who invested US$13.2m funds between 2008 and 2013. The land was not developed, and all the money has gone.
Due to all the failed investment schemes with numerous complaints from investors facing significant financial loss, R2i was placed in a CVA (company voluntary arrangement) in October 2011.
In October 2012, a £1m corporate Valle de Uco investor (AIS) obtained a Worldwide Freezing Order (WFO) and filed a claim for fraudulent misrepresentation against the Crossicks and breach of contract against the Argentine SA that owned the 310 ha of land.
In February 2013, Judge Cranston ruled there were “disturbing features in the additional evidence” especially around the way funds had been channelled through different entities in the Valle de Uco investment scheme and ruled that the WFO against the Crossicks and 310ha of land should continue due to the risk of dissipation of assets.
In May 2013, R2i was placed into a liquidation. Two White Maund (WM) insolvency practitioners were appointed as R2i Liquidators. In February 2018, WM were replaced by Griffins so that R2i’s activities and the conduct of the directors could be fully investigated.