Garnet Invest Review: Real Insight
Garnet Invest company claims to specialize in flipping and earns by buying and reselling various real estate properties (including residential and commercial properties). Potential investors attracted by this offer are promised returns of up to 20% annually. However, many have encountered trickery and dishonest behavior, not receiving the promised profits but instead facing fraud and rudeness.
There are positive reviews praising Garnet Invest. It is important to note that this review is intended to uncover the true state of affairs surrounding this investment project.
Main Information about Garnet Invest
According to information, Garnet Invest was founded in 2014 but actively started its real estate activities only from 2016. The company claims to have assembled an experienced team and is actively operating in various cities, including Moscow, St. Petersburg, and Yaroslavl. However, website history research reveals that it was only launched in 2018.
A verified email address is used to collect personal information from clients, indicating the deceitful nature of scammers. Reviews also point to related projects owned by the sole founder of Garnet Invest, Alexander Sergeyevich Pozdnyakov.
It is important to know that all his businesses have insignificant authorized capital, disproportionate to their real estate and investment activities.
The financial situation of the Garnet group companies is already causing concern, reflected in their financial reports. One of the enterprises linked to Pozdnyakov has already gone bankrupt, casting doubt on the reliability of his other projects.
Furthermore, the company is actively expanding its staff, including sales managers. Despite promises to candidates, they do face cold calling, with this task delegated to other employees, and managers are provided with already “warmed-up” clients to convince them to invest.
The company claims to have partnerships with major financial institutions, yet their official websites do not mention any collaboration.
Official Registration
LLC Garnet-Invest is registered in the Russian Federation and has the following details:
- TIN: 1187847142977 (assigned in May 2018),
- TRRC: 78020100,
- Tax ID: 7816673846.
It is important to note that for official financial activities in the sector, a license from the Central Bank of the Russian Federation is required, something Garnet Invest entities do not possess, ignoring the regulator’s requirements.
By registering on the company’s platform, potential clients are left without legal protection and expose their investments to the risk of losing them.
Offers from Garnet Invest
Garnet Invest announces active investment of funds in real estate and its improvement for subsequent profitable sales. The main partnership conditions include:
- Investments in various types of real estate,
- Investment period from 6 to 24 months,
- Returns ranging from 9% to 20% annually,
- Minimum investment amounts: starting from 1 million rubles for residential properties, 4 million rubles for apart-hotels, and 20 million rubles for commercial properties.
In addition to individual investment formats, the company also offers a collective investment scheme.
Garnet Invest warns about risks and the absence of guarantees in investing, as reflected on their website. Therefore, clients must be aware of the responsibility for their actions and decisions.
Reviews and Exposures
It should be noted that negative reviews from dishonest clients on Garnet Invest’s operations reveal a carefully planned fraudulent scheme. The losses suffered by those who trusted the company are significant. Many strive to prevent new victims by sharing their experiences and financial losses.
Typical Scam Scheme
The preferred deceit scheme on the Garnet Invest platform is described through the collective experience of former clients. Many fall into it through false advertising or fake reviews. Details of collaboration with Garnet Invest are revealed only after registration on the site, and scammers set a high entry threshold to conceal their activities.
After depositing funds, clients are deprived of the option of early withdrawal, and when the term expires, the company stops responding. Some victims point out the non-provision of returns, accusations of document issues, economic crises, etc.
Conclusion
Garnet Invest is a typical financial scam targeting affluent investors seeking to increase their capital. Through manipulations and unfair practices, the company convinces clients to make questionable decisions, disregarding legal aspects and investment risks.
My experience with Garnet Invest has been nothing short of frustrating. The lack of transparency is really alarming. It’s 2023 and they’re still operating in the same outdated, obsolete manner. Their customer service is outright unresponsive most of the time. It took weeks for them to even respond to my query, and they didn’t give a satisfactory answer either.
I feel like they take no initiative in making sure their customers are comfortable or well-informed about their investment. Information about fees, transaction charges, and other important details are subtly hidden in the fine print. The mobile app is poorly designed and crashes often.
Garnet Invest surely needs to up their game if they want to retain customers in this highly competitive market. I have decided to switch to a more efficient, customer-centric broker and I strongly advise prospective investors to look elsewhere.