This is an old post that I removed just in case Prospero and Lloyd Walker eventually fulfilled their promises.
They didn’t.
They have now gone in to liqudiation.
If you have had anything to do with Propsero BMV, this post might interest you.
It was originally posted in around December time.
————————-

Sit back for a story of incompetence,  mismanagement, squatters, human feces and untruths told on the phone, and via email.

Prospero are a London-based company that help you buy properties and then manage them for you.

The managing director, is a former employee of the Welbeck Group, a man called Lloyd walker

Well, thanks to Prospero’s  excellent property ‘management’ skills, the house they managed for my partner is now uninhabitable.
There is what seems to be human shit all over the floors.
There are syringes and foils from drug use scattered throughout the house.
The front door has been kicked in.
The kitchen windows smashed.
The boiler has been stolen.
The carpet will need to be totally replaced.
The back garden is so full of rubbish that we have been quoted almost 900 pounds for the removal of 2 to 3 tons of rubbish.

Wow! Prospero are like, TOTALLY GIFTED in the property management department.

Prospero’s recommended managing agent, a man called Adam Parkin, whose phone no longer rings, failed to get a tenant references or credit checks on the tenant.
For the last 6 months, as the house fell gradually further into disprepair, Prospero employees lied about what was happening with the repair of the property.
And how do I know they lied?
Because after months of frustration and futile promises, I phoned the insurance company handling the claim for damages, the company Prospero were supposedly dealing with on MP‘s behalf.
‘We’ve put the claim on the back burner’, they said, ‘because we’ve been waiting for a quote for repairs since June,’
And this was in JANUARY of this year.

At this stage you might ask why MP hadn’t done something about this herself?
Well, because she has months and months of printed emails in which Prospero and its employees promised they were taking care of things; that the reason they hadn’t been able to start work on repairs to the house were issues that lay with the insurance company.
And to be fair, one takes on someone to manage a property so one doesn’t have to do it one’s self.

As of a week ago I had a late night phone message from Prospero promising that the house would be boarded up, that the rubbish would be removed.
But now we have threatening letters from the Doncaster council because the neighbours have been complaining of the smell.
Prospero have ‘managed’ this property it into what the rubbish removal company called ‘probably the most disgusting job we have ever come across’.
Needless to say, the squatters who had moved in weren’t chipping in for the rent so MP has had ZERO rent for almost a year.

Naturally enough, my last three weeks of emails and phone calls to Prospero have gone largely ignored.
Oh, actually, I had an email from a Prospero employee on Tuesday morning saying she was sorry she hadn’t been able to get a repair quote from a contractor, or manage to have the rubbish removed.
This was three weeks after her phone call promising that she would have the house boarded and the rubbish removed the following day.

Here’s one of Prospero’s emails-

“Hi T….,
I am really sorry I have been trying my best to resolve this issue and chasing our contractor but unfortunately can’t control what is happening.
I am spoken to Lynn who is going to our leads office tomorrow so she can pick up the keys and we will arrange to send them to you.
I am still awaiting to hear back for the quotes again its out of my hands and I am really disappointed we have not been able to resolve this for you sooner.
I will be in touch tomorrow.”

Maybe Prospero ought to give me a job.
I managed both of those tasks in about an hour and a half online.
And I’m an ARTIST.
I draw pictures all day long.
I don’t call myself a property manager.
And neither should anyone from Prospero.
—————

More to come on Lloyd Walker and Propsero….stay tuned.

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  1. Shug

    I am wondering why you and your partner would buy from Lloyd Walker when he was a major player at Welbeck seeing all the problems you have encountered with them?

  2. Catherine

    When Lloyd left Welbeck, we were still under the impression that Welbeck would pay us the money they owed. Lloyd told us that they would and in fairness to him he instructed his assistant at the new company he had set up to help us (which she did). His spin on Welbeck was that he had left because they didn’t understand how the property business ran and he thought he could do better on his own. We had no reason the mistrust him at this point. I felt he had given me good advice and indeed he helped me complete the purchases that were ongoing at the time. i.e he honoured his commitment to help us. Hence why we subsequently trusted him and Prospero to look after our rental properties. We thought that he was someone we could trust but unfortunately he let us down very badly in the end. Lesson earned. Never trust anyone to look after your assets.

  3. Nick Montero

    Hi Catherine, I am truly sorry to hear of all the trouble you have had. Unfortunately Lloyd Walker although coming across very credible is really only interested in himself. He has managed to mislead both customers and work colleagues alike and joined another property firm between welbeck and prospero where he was duly sacked for effectively embezzling funds and lying to the owner. Now Prospero are insolvent expect to see another creation of his in London soon with the same dodgy connections

  4. Dave

    If you want to contact him try to find out what happened.

    07968777550
    07966052930

    Flat 3
    20 New Globe Walk
    London
    SE1 9DX
    United Kingdom

    That’s all in the public domain…..

    • The new owner, 20 NGW

      Please note Lloyd left this address in October 2011 when we bought the flat. He left no forwarding address, unfortunately.
      Thanks – The new owners.

  5. mr smth

    lloyd is scum….. never trust a word he says i could see what he was like from day one,,,,,

  6. Anonymous

    Lloyd walker isounds like scum. I have been doing a lot of research, here’s what I know is a FACT:
    new mobile number 07938 534 648
    lloyd.c.walker@googlemail.com
    He is the new “director” of a company called Nemea Capital/Property. David Hubbard (was a sales person at Prospero) is the new director on paper alone. He is doing it again, I have been cold called by them….EXACTLY the same as Prospero. More clients will lose their money. Something must be done. After being cold called I researched everything, I would never hand money over without doing my due diligence

  7. Anonymous

    Nemea based at 125 Old Broad Street, London…apparently close to the old office?
    Phone number – 020 3192 5660
    Several ex-employees with Lloyd Walker have started a new company

  8. Anonymous

    For anyone interested, please be aware of Satus Property in Leeds which is run by Lloyd’s partner in Prospero, Steve Whalen and he is the one who sources and refurbishes the properties that Lloyd sells and the quality of his stock leaves a lot to be desired and please also watch out for Arista Property Management which is run by Mareum Bond (previously Mareum Mahmood) who was a property manager at Prospero and is now doing the property management for Lloyd, David Hubbard and Matthew Bond (no relation to Mareum Bond and who also previously worked for Prospero)

    I see NEMEA is marketing the JV structure on their website, the JV’s were one of the main reasons Prospero folded as it could not pay back the JV investors so with Nemea they are back to their old dodgy ways…..sickening

  9. Mareum Mahmood

    For anyone interested I am Mareum Mahmood and I would just like to point out that I was an ex Prospero employee (not a Director). I have recently set up my own business, Arista Portfolio Management NOT Property Management. I also have a business working relationship with various ex Prospero employees who have gone their separate ways, however have set this Portfolio Management company up myself. After Prospero went into liquidation this obviously left me unemployed and I saw the perfect opportunity to do something myself.

    Arista Portfolio Management provides a hands off, hassle free service to clients who either do not have to time to be a landlord or just find it difficult to manage their property investments (portfolio). Having a portfolio management service enables them to get on with other personal and professional commitments in their life knowing that their portfolio is being looked after. Please feel free to check out the company website for the different levels of services available- http://www.aristapm.com

    All my clients (including some ex Prospero clients) have been more the happy with services being provided by Arista so I would appreciate it if the anonymous senders would stop writing meaningless information.

    Something to think about – I wonder why they are anonymous?

  10. ant

    Hi, I was employed as a builder for refurbishment of Steve Whalens properties; at that time he was trading as Whalen Properties. I have had a year of delays, excuses and time wasting trying to get the £9500 plus interest on my overdrawn account for work done for him. I know there are other builders he has pulled the same trick on and would like to get in touch with them – if we took court action together we could share the cost and hopefully get something back. Any advice would be gratefully received-at this point I am even thinking about contacting his local newspaper and seeing if they would run with the story-quite topical these days unfortunately.

  11. ant

    Steve Whalen contacted me today and offered to make me NUMBER 3 on his list of creditors if I removed my last post on this site! Instead I have set up a new blog of my own dedicated just to him (first of many to come) It is called DOES STEVE WHALEN OWE ANYONE ELSE MONEY.

  12. Ant, give me the name of the blog and I’ll link it here.

    • ant

      Sorry it has taken so long to get back, I dont know how to share the link-the blog is called steve whalen owes me money and it is on my face book page as well. As an update he has done a CVA with whalen properties and started up again as satus properties complete with website-dont suppose you would know how i could link in to that do you? ant

  13. Ant Brown

    Well Steve still waiting for your letter saying i’m number 3 on your list of creditors ‘how many times do you think i’m going to believe this it’s been a year of promises, can not take any more of your lies’ it’s time i told what you have Dunn to me’ so no more people get ripped off by you.

  14. bloke

    whalen home address ;8 field park grange , morley leeds ls27 7wq
    whalen office ; 145/147 wake field rd leeds ls27 7hh
    01132530047
    07528863819

  15. Walsh

    apparently there is little chance of anyone getting their money back from Prospero for years. They owe me 27k and i hope that Lloyd Walker is at least prosecuted for theft and fraud

  16. Anonymous

    Lloyd’s previous firm Ducalian have also been ripping off investors. They claimed to be raising money for hotel developments and student builds, but the developer has run away to the middle east.

    my advice is to not work with any property investment advisor who cold calls you at your desk.

    • Anonymous

      Having previously been a client of Welbeck and Ducalian, to tar everyone at either firm with the same brush as Lloyd Walker doesn’t seem fair. Was everyone at Barings Bank as crooked as Nick Leeson? Although it sounds like Lloyd was ripping people off, i certainly have not had that experience with his colleagues.

  17. G Williamson

    I had a cold call on my desk last week from Welbeck Group. I dont think i could trust them with my money if they wont admit they are in the wrong…thank you for the post…

    Does the Ombudsman protect consumers on these areas?

  18. Anonymous

    With regards the anonymous comment from 30th December, you clearly have not invested in any of the following Ducalian projects then- 1. A student build in Leicester, 2. Holiday Inn Docklands. 3. Holiday Inn Barking or any of their assorted shambolic buy to let houses. Ducalian may not be “crooked” but at best their due diligence is obsolete. On top of which, they are now no longer returning my calls and the secretary is on “sabatical”. Doesnt sound like a firm exactly prospering, does it?

    • Robert Cherry

      Regarding some of the comments directed at Ducalian and our staff, if you require any information such as the due diligence on each project, or you need a call returned, please call me on 020 3009 3083 and I will be happy to talk to you.

  19. Nick Montero

    I heard Lloyd is involved in a company called “ethical property solutions” now with the tag line “your money, our ethics”

  20. Kashif Aslam

    LLoyd promised me a “guaranteed 10% return” no money down, “free money” a good clean wholesome family investment

  21. Tim Lambert

    I used to work for Ducalian and felt compelled to comment based on some of the above statements here. The difference between Ducalian and Lloyd is that Ducalian projects are genuine. Yes, development finance is a high risk investment, but investors know this when they get involved. Likewise projects can be delayed and this is sometimes an unfortunate scenario born of the current financial climate. In my experience Ducalian always carried out thorough due diligence and prepared thorough documentation. To compare Ducalian with the types of investments that I understand has Lloyd Walker worked on, is unfair.

  22. ducalian are 100%

    Its lloyd who is the t**t

  23. Paul Traynor

    Does anyone know what connection, if any, Lloyd has to a company called Corrius Property Asset Management?

    • x

      Corrius Property Asset Management was started by former employees of Lloyd, who was not happy with the way things were run at Prospero. Lloyd has nothing to do with CPAM and is in no way connected to them.

      As far I know, Corrius have happy clients and deliver service as offered.

      • xx

        That’s a joke. Corrius Asset Management have cost me thousands. Avoid any company where you pay upfront.

  24. mr smith

    Lloyd is the director

  25. G Williamson

    I have just had a cold call from Welbeck Group and they couldnt tell me where they got my number from and why they were call. Very unprofessional and I thought I was on the TPS!

  26. Is nemea property going bankrupt?

  27. Marcus

    Indeed- it seems David Hubbard who was a Director is now at a firm called JN Financial as a derivatives trader. No wonder the financial world is in such a mess. David and Lloyd have lost me thousands.

  28. Unknown

    Yes, David Hubbard is a now a derivatives trader at JN Financial. As far as I understand Lloyd Walker and Matthew Bond are continuing to run Nemea.

  29. Anonymous

    Ducalian- where is my Leicester money? You promised clients a refund months ago. Your name is mud.

  30. dave stevens

    As a former ’employee’ if you do not want to be cold called, request for your name to be put on the ‘Do Not Call List’ (DNC List) along with the 50,000+ other people or you will threaten FSA action, that usually works.

  31. Michael Joynson

    I would be interested in getting in touch with anyone who has actually invested with Nemea to discuss the current situation. My number is 07946411206. Their telephone number doesn’t work now and when I tried to get in touch with Lloyd Walker via email I got no response. David Hubbard, who started the company, has changed his mobile number, so is uncontactable. JN Financial tell me that he is now on holiday.

    • Hello Michael, I have no contact details for Lloyd Walker.
      Somewhere on this blog is his address that someone posted.
      Have a scroll through and see if you can find it.
      I’ll have a look and post it here.

    • anon

      You could try their registered address as they may have at least some contact details for Lloyd?

      Third Floor 207 Regent Street
      London
      W1B 3HH
      United Kingdom

    • C

      hi. did you or anyone else lend nemea money with a first charge on a property? If so did they register the charge?

      • Michael Joynson

        All money that was lent actually went to Satus Regeneration, for whom Nemea were acting as agents. This should be clear from the contract that you signed. On lending the money (that is if it was a bridging loan) you should have got first charge on the property. Both my properties that I lent on have first charge in my name. If it was just a development loan you won’t have first charge. If you want to find out the situation regarding your property you are involved in for a small fee you can get the information from the Land Registry. I can be contacted on michael.joynson@gmail.com if you want to discuss further. Satus are currently being wound up, which is being dealt with by the Insolvency Office in Leeds. I have all the details if you need them. They should be contacting you in due course. Nemea sent out an email to all clients “explaining” the situation from their perspective, which includes new contact details for Lloyd etc. Interestingly they claimed not to know that Satus was being wound up until I told them. If you want a copy let me know.

      • C

        Mine was even dumber. I had a first charge on a property for which they had an undertaking for. They lost the document and never filed the charge.

  32. Anon

    I wonder what happened to all of the money ?

  33. James Ward

    Things are different now following the financial crisis. Lloyd is no longer a director of any company and is largely anonymous. Welbeck Group fell apart. Wealth managers have much more stringent regulation to ensure they are clear and transparent. I worked for Welbeck and with Lloyd. Welbeck had a lot of issues, dubious sales practices, tax schemes etc but the sales of general products like pensions and ISAs etc had no issues and were from a reputable provider. Persuading people to put more money in a pension was not a bad thing, but like i said there were other things which were not great. It was a Wolf of Wall street atmosphere at times, sexist, male dominated etc. Lloyd is a complex character and even now a lot of people including myself would struggle to fully understand his motivations and actions. there was never a time where he sat down with colleagues to discuss trying to screw people over, but I don’t know the full story, the fact is a lot of people put their trust in him not just investors. Unfortunately although he was a great salesman he had little business acumen and i expect it came down to just being blinded by money over integrity which is a shame. I hope he has learned from his mistakes.

    • Mark H

      Then real same is its history repeating itself. Most of the spin-off companies are 80’s style cold calling machines that hire the ignorant and impressionable with extravagant displays of decadence, as they have (in most cases) no basis for comparison they don’t see that they are being exploited and should only use the environment they find themselves in as a step to get themselves trained and qualified before seeking a meaningful contract, either directly or via another firm. The one thing that nearly everyone that has come out from Welbeck (and its the same for Graham Johnson ISM Financial Solutions etc) is that the grass really IS greener.
      When your manager makes a beg deal about Treacherous disloyal turncoats looking elsewhere (its why they demonise leavers “they will never be successful….”)
      If you are a qualified (or part qualified) financial adviser, and you are writing 10 decent cases a month and you are not earning decent money, its your company is pocketing the lion share and you are getting a pittance. A good rule of thumb is to take the amount of commission showing on an illustration for a client, reduce it by 20-25% and that amount is the amount that you can keep YOURSELF if you are an Appointed Representative of one of the networks. (and they will take you in a flash)

      Do it!!

      Call the Intrinsic, Sesame, Openwork etc recruitment number, tell them your circumstances and listen to want they have to say. If you are just starting out it, knowing what you could earn will help you to work a plan.

      Most owners of Financial Advice practices don’t understand that Loyalty works both ways. Don’t be fobbed off!!!! (and don’t think you are too cleaver to be fobbed off).

  1. 1 Nick montero | Makulita

    […] Lloyd Walker and Prospero BMV – The Welbeck Group – BlogJun 3, 2011 … Nick Montero. June 22, 2011. Hi Catherine, I am truly sorry to hear of all the trouble you have had. Unfortunately Lloyd Walker although coming … […]




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