Gordon Pettie and The Barlow Clowes Scam

Did you know that Gordon Pettie – Chariman of the Revelation Foundation, was involved in a very serious investment scam, which resulted in many Christians and even churches losing substantial sums of money?

Most of us have at some point been involved in something that is questionable (for me it’s helping set up Revelation TV), but Mr Pettie seems to have a pattern. At present Revelation TV is being investigated by the Charity Commission for concerns that it is being used for private advantage. For more details on this please see my post below for my insider info

https://godvschristianity.wordpress.com/2015/05/14/why-i-think-revelation-tv-is-being-investigated-by-the-charity-commission/

The reason I feel to highlight Gordon Pettie is that his involvement in the Barlow Clowes investment scam resulted in him losing his investment licence. This is particularly serious when considering the below…

“The Financial Intermediaries, Managers and Brokers’ Regulatory Association has undertaken its own investigations and recommended that disciplinary action be taken against 19 of its members involved with the case, of which three have been suspended. Those suspended are the Investments and Pensions Advisory Service Ltd. and D. C. Wilson and Gordon Pettie Advisory Services. The Investments and Pensions Advisory Service is in liquidation following a winding up petition by the Securities and Investments board and D. C. Wilson has gone into voluntary liquidation.”

Taken from… http://hansard.millbanksystems.com/written_answers/1989/mar/15/barlow-clowes

The thing that concerns me is that disciplinary action was recommended against 19 involved, but only 3 were suspended. Gordon then actually lost his investment licence!

For further details of this see http://www.gordonpettie.n.nu/

The thing is… you don’t lose your investment licence for no reason, do you?

The other thing that should be noted is how many companies Gordon has been involved in. Some of them are verifiable such as The Joseph Storehouse Trust, which having personally met Barry and Batya Segal, I don’t question as a charity. However, we know that at least one was involved in a scam, two if you include Revelation TV, which has been actively misleading its viewers regarding finances and is now the subject of a statutory inquiry.

Mr Pettie (full name – Ian Gordon Pettie) holds 12 appointments at 8 active companies, has resigned from 29 companies and held 21 appointments at 14 dissolved companies. Ian began their first appointment at the age of 42. Their longest current appointment spans 20 years and 5 months at GENESIS DEVELOPMENTS (MACCLESFIELD) LTD.

The combined cash at bank value for all businesses where Ian holds a current appointment equals £964,966, with a combined total current assets value of £2,036,598 and total current liabilities of £290,672. Roles associated with Ian Pettie within the recorded businesses include: Director, Company Secretary

Read more at: http://companycheck.co.uk/director/910127680

Howard Conder in an email to everyone@revelationtv.com made clear that Gordon Pettie was the one who suggested that he set up the Foundation. He also gave indication that Gordon set up the entire financial infrastructure, which is now the subject of an investigation by the Charity Commission.

I don’t think I ever met Gordon Pettie, he joined the station a few weeks after I left, but his email responses regarding Howards lies and editing of a confidential report were very telling of his comfort levels with the situation. All he did was deny any responsibility to do anything. Howard won’t even read my emails and it’s the responsibility of the trustees to hold people to account.

They have all failed.

Advertisements

24 thoughts on “Gordon Pettie and The Barlow Clowes Scam

  1. It would seem a lot to do with Revelation TV is dubious at best, shady and underhand at worst. This is seriously embarrassing for the avuncular Mr Pettie, I was aware of his dubious history in respect of his financial dealings, I’m sure a lot of his viewers are not. In my view, both he and Conder should get what’s coming to them and I applaud the work you are doing to expose them for what they are.

    Liked by 1 person

  2. Gordon Pettie has apparently responded to a query about this situation:

    “Gordon Pettie investment services was suspended because our head office was a 100 yards from Barlow Closes in Poynton Cheshire and the regulatory authority thought we might be in league with each other. We were cleared after about three years but by them the business had long gone.”

    It does seem unlikely to me that geographical location would come into the equasion in any investation of this type. It also seems unlikely that Pettie would be “cleared” three years after the event.

    I think that clarification is needed, so I have contacted the Financial Conduct Authority asking them whether Petties statement is the truth.

    Like

    • Firstly to keep the content balanced. Here are the facts. Barlow Clowes or I should say Peter Clowes was the individual that scammed 100’s of other Financial intermediaries including this firm. This independent fin advisory firm happened to be the largest investor as an Independent (someone had to be that unfortunate title holder. )There where much bigger Fin Advisory firms that had a bigger impact on more people that were not independent but listed organisations whose clients were also affected. So we cant say that one fin advisory is more or less guilty than another. The regulatory environment was at mistake during the heady 80s. Just look at the bankers bonus issues and the sector still gets it wrong. I dont think it fair at all to point the finger at one company, 100’s if not 1000’s of firms also invested in Barlow Clowes. So we should be mindful of this. Peter Clowes rightly went to prison for his blatant dishonesty. No other individual from any financial advisory did and that my friends is all we need know. The guilty party is Peter Clowes and the then FSA.

      Like

  3. This is the response an enquirer received from Gordon Pettie regarding his involvement with the Barlow Clowes scandal.

    “I e-mailed Mr Pettie today to ask him his response to Sarahs latest post. Here is his response.

    Dear William

    Thank you for the latest posting which I was not aware of. I have a policy of not replying to such comments but as you specifically request a response, here goes. What I would request is that you do not copy and paste this on to others.

    Events of 30 years ago are being talked about. At the time Gordon Pettie investment Services was a successful investment advisory company. Amongst many other companies we advised a number of clients to invest in gilts through Barlow Clowes. It turned out that Barlow Cowes was a scam and Peter Clowes ended up in prison for 10 years. As the government had licenced Barlow Cowes they reimbursed all clients their money so none lost out.

    Gordon Pettie investment services was suspended because our head office was a 100 yards from Barlow Closes in Poynton Cheshire and the regulatory authority thought we might be in league with each other. We were cleared after about three years but by them the business had long gone.

    There is much more but that is the basis of what is being written about.

    Kind regards
    Gordon Pettie

    It’s interesting that he doesn’t want this spread any further, and his explanation of why his license was withdrew based on geographical location seems bizarre to say the least.”

    Liked by 1 person

    • I think it makes perfect sense, if a company that has invested monies in Barlow Clowes was 50 metres from their office, would it not be irresponsible for the then regulator to not check if there was a connection? It seems common sense. However as Gordon Pettie states they were open to investigation and cleared of any involvement whatsoever. That is the answer, end of story for what my tuppenceworth counts.

      Like

      • Hi Anon

        I know where you are coming from, but it does seem odd that Pettie lost his licence due to proximity. That would be a huge injustice.

        The point of this article is to demonstrate that Pettie has had questionable felines financially in the past. The set up of the Revelation Foundation is evidence that Pettie feels very comfortable deceiving individuals with their money and more importantly believers, who are generally far more trusting.

        Like

  4. After a bit more digging I find his response rather callous. “As the government had licenced Barlow Cowes they reimbursed all clients their money so none lost out.”

    “When the business was closed down in 1988, after years of procrastination by the Department of Trade and Industry, 18,000 investors lost their savings. Though the government later reluctantly coughed up pounds 150m in compensation, many of the pensioners who had sunk their savings in Barlow Clowes died in penury before they could receive anything.”

    http://www.independent.co.uk/news/the-lookingglass-world-of-mr-and-mrs-clowes-1339621.html

    Liked by 1 person

  5. Support for you is well deserved and merited. You are fighting for your dignity, the truth and for good people with deeply held and sincere beliefs against charlatans who deserve to be exposed and held to account. Yours is indeed a noble cause and I wish you well.

    Like

  6. HI SARAH
    The Company could not ” have long gone” before the three years as it was not officially dissolved until 2/2/1993 confirmed,. by checking archive info of dissolved companies at Companies House. It may have been forced to stop trading and then dissolved after all the investigations. But archive searches can be made at CH.

    I also read a paragraph of an article which stated that one particular company was suspended for charging high fees in the involvement of the Clowes affair, the article did not name the company but it was cheshire based. So i find it strange that any company who had lost their licence in this saga would be due to geographical reasons however I could be wrong?

    Like

  7. Government bodies don’t suspend company licences based only on their geographical location, Pettie is lying I am sure, but I’m struggling to find hard information to be able to challenge and discredit him. If anyone can help, that would be great.

    Like

  8. Hi William and Dear Sarah,

    God Bless you, you may find this link interesting could not copy due to the Copyrights .www.thefreelibrary.com

    Like

  9. Very interesting Anonymous.

    From the looks of it Gordon’s investment company went into default. The article was dated October 2001, although it doesn’t say when this happened, but only mentions 19 IFAs that went into default. This is a bit odd as the Barlow Cowes scam happened over 10 years before this was published.

    There is clearly more to be looked into here.

    Like

  10. Hello Sarah
    dministradores.eleconomista.es/Administrador_PETTIE-IAN-GORDON.html- involved in spanish registered companies genesis 247 sl this is all very confusing pop link into google for translation. how many more companies??

    Like

  11. Regarding http://administradores.eleconomista.es/Administrador_PETTIE-IAN-GORDON.html

    Pettie appears to hold positions in two companies registered in Malaga – part of the translation reads:

    “Social Object:
    THE TELECOMUNIACIONES and audiovisual communication, producer of films, commercials, video clips, compact discs, DVD, concerts, shows, events crowded, STUDIES AND STATIONS OF FILM, TELEVISION AND RADIO, INC
    NACE:
    6020 – Activities of programming and broadcasting services
    Province and Municipality:
    Málaga, Mijas
    Activity Report:
    Broadcasting services, shuttles and TV signal transmission”

    I have passed this information on to the Charity Commission (assuming they do not already have it). God bless tx

    Like

  12. I used to financially support revelation TV until Jacob Prasch left and I became uneasy about the whole set up at Revelation TV…..Revelation TV certainly don`t like to be questioned about anything and it seems Howard Conder just uses Revelation TV as a platform to air his views and comes down extremely hard on anyone who does not share them……

    Like

    • Hi Len

      It seems that a lot of people started to withdraw support at this time. Part of being a leader is to serve others and Howard doesn’t seem to understand that this means to listen and respond to needs. Hopefully one day they will see this is not the way to treat people, especially when you are doing in in Gods name.

      Like

  13. Hi Sarah,

    A close friend of mine Banda was involved with Rev TV at the very start and as such I began regular support hoping we could have a sincere, word faith free, station in Europe. I later learned he had been pushed out and as I continued to work with the station via email I was dismissed, belittled and falsely accused by Gordon of judging when in fact I was discerning. I have personal experience of evil people infiltrating organisations and shaping them to their own ends and can see this happening at Rev TV. Doug was another know all who dismissed my superior knowledge as if I were somehow spiritually immature.

    Anyway I tuned in for the first time, in a long time, last night and watched the programme twice about this new studio in Spain of which they have so far raised £1M. I still think Howard in naive as I could see looks going on between Gordon and Alan, Gordon conveniently playing with his tablet emails when the subject of money would come up.

    Anyway they announced purchase of industrial land (no buildings) quoting 26m x 23m which is 598 sq m at a cost of £700,000.

    That works out at £11,070 per sq m!!! for barren land in an industrial estate in Spain which Howard says is not in the best part of town.

    I’d be expecting Mayfair for that sort of sum. Something very fishy going on – someone is up to no good and I think I know who.

    As if provided by a divine hand this proves my point perfectly:

    House prices in Kensington and Chelsea:

    http://www.mirror.co.uk/news/uk-news/house-prices-12k-now-buy-5931726

    “The London borough has been named as Britain’s most expensive place for property on a square metre basis, with the average square metre of a home there setting a buyer back £11,635”

    £11,635 per sq m for property in Chelsea £11,070 per sq m for barren land in Spain?

    Clearly evidence of gross misappropriation of charitable funds. This needs to go viral.

    Like

    • Yikes! I haven’t seen it yet, but that sounds rather serious. Someone is up to something or they are just being stupid with money. If land prices are genuinely that high they should go somewhere cheaper as this is mad!

      Like

  14. I am finding your blog most interesting. Seems Howard may not be the gullible silly billy I thought earlier. You said “One way or another we will stop them.” As for this land purchase, surely this will be how.

    Personally I am not wholly opposed to having a subsidiary company being able to ensure the bills are met but lets have some true transparency and not these obvious conflicts of interest.

    If Howard is so poorly paid (£40,000 pa or is that each? – £80,000 pa backdated 12 years? £960,000?(“Hardly a fortune…a cleaner earns more than us”” he says) then how is Howard able to give the charity £350,000 plus another £500,000 (£850,000 in total) to buy camera equipment? It stinks.

    How sad to think we are working to expose this organisation but they refused to listen to mature viewers who know God would have blessed them had they done the right things but they bit the hand that fed and continued to live in denial. The love of money…

    The land they are buying is a shabby postage stamp next to a filling station, it is not in some modern state of the art hi-tec business park.

    There is therefore absolutely no way the land can have a value akin to the “most expensive” property in the UK that is simply not possible and though I have not identified industrial land for sale in the area for comparison, I have checked industrial warehouses and it would be considerably cheaper to buy industrial buildings (including land) than they are paying just for this tiny piece of scrub land.

    There can only be one conclusion – the asking price is jacked up many times its true value – the charity disburses the 1 Million Euros and someone gets a very sizeable kickback. That is why they are not going to go somewhere cheaper, they are already in a grotty part of town. This is another scam and clearly a very serious one as you say.

    Interesting how the Revelation Foundation charity’s Chairman’s background is that of an investment broker who lost considerable funds for his Christian clients and had his licence revoked yet by God’s grace mysteriously appeared on the scene six weeks after the organisation was founded and is again under investigation.

    Like

  15. If you watched the latest building fund programme updated aired this Tuesday they mentioned the Interim Manager was there for Two days??and took copies of everything. Also they stated that the CC have rubber stamped the purchase. Interesting indeed.

    Like

    • Yes they did say two of the staff of Fishers went over to give consent for the new building going ahead, this seems a bit premature as a few weeks ago howard was saying that it was going to cost £70,00 0 as they wanted to scan so many things, you would have thought they would have completed the investigation totally before allowing anything new to go ahead, so little confidence really in it all.

      A Man, a Viewer E Mailed in to put the point that why are they having a new studio with all of its
      expense when they haven’t been meeting the monthly targets and were going to cut down, another consideration surely for the CC, they said that it would be cheaper in many ways to run the new super purpose built studio so in the long term it would be better, its a point that many have thought about. When they had given their take in it , howard commmented so that is not a valid point, it was in fact very valid and needed addressing surely !

      another query is that they said they have planning permission for a studio but not for many extra things they need/want to do from it, it has to be run past the authorities, so what happens if they don’t get that planning permission it could all go pear shaped.

      Last time they did’nt consider the electricty supply needed and it had to be done as an extra, this time howard was saying about selling electricity to other poeple from their supply, I wonder who’s pocket that will go into
      ..
      alan is very clever with words and legal stuff, Gordon does the figures and howard has all of the big ideas but when it comes to little essential things like planning permission, electrcity supply , documents for a foreign vehicle, ie the OB Truckthey don’t seem to have much idea.

      Howard is gong around looking at other studios for ideas, several times they said what they think and want, I wondered if God had been consulted in some matters, isn’t he interested in every little detail, yet they seem to be making their own plans, surely God would have had to check the planning permission as well prior to commiting, we can see in the bible just how presise God is in all he does.

      It appears that other things howard has done like apparantly purchasing an expensive yaght , howies club have all been sold quickly is this due to lack of wisdom, then the OB Truck that was never of God ,most of all the current studio was said to be wonderful, what they needed and money was raised for it, yet now that isn’t good enough, may bit a bit more wisdom on that in the first place would have been good then there wouldn’t be more expense now, I also thought there was talk of having a mortage for the current place yet it all beeen rent they say, what happened to the idea of mortage did they not say then that they had never owned a building and felt it was right. they must have seen the low ceilings, the pillars in the way etc etc. lets hope this isn’t another project to fail.

      They said that God has given them more euros for their money as well, by the timing of this venture, just wonder if this is more to be wasted as per peoples facts and comments earlier on this blog re the cost of land etc.
      Just wanted to have my say, I wouldn’t even be on here commenting , not involved or watching REV TV anymore if howard hadn’t falsley accused me of contacting the chairties commision, he had his little digs again on air during the programme at whoever it was, that what was meant for bad has been turned to good. He just wont accept who ever went to the CC has a right to do so and that the CC wouldn’t be investigating without cause and evidence, just a dig here and a dig there from him, not humble and accepting of what is the law of the land re Charities and rightfully so.

      Like

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s