- Report: #207457
Complaint Review: Luke Fogarty -
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Author Confirmed
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Luke Fogarty
Singapore
Phone:
+65-67336488
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Luke Fogarty Circulates capital raising business plans for magazines/ventures which always collapse ripoff Singapore
Luke Fogarty, a US citizen has resided in Singapore for 20 over years.
He has been associated with many failed business ventures and has raised capital and attracted investors into his many schemes.
So far I am aware he has first been involved in marine business (Liffey Marine - tugboats in Vietnam but based in Singapore), This collapse and left many creditors without payment not to mention shareholders, got involved in partnerships which collapsed and there always is an excuse (it's always the other partner's fault).
He then went on to publish oil industry publications - started with Petromin in the late 70s and then walked away when fight broke out with owners who are still trying to find their money.
In the eighties there were numberous venture - which I am not so sure about. Late in 80s he got Petroleum News magazine. The investors fought with him and eventually threw him out but the business was seriously crippled I think. He also has at the same time, shady trading deals all of which went bad. I know a couple of guys who can support my story in this matter.
He had links with Vietnam - his daughter plays on Sat TV CNBC I think - she is a half-cast Vietnam American (Moara Fogarty). In the 90s he then got into Vietnam Investor magazine. This was twice or three times ressurected but eventually collapse leaving the Singapore investor in tears.
Later in the 90s he's been trying hard to keep Edu Asia going and it stopped publishing after he ran out of money.
Dont ADVERTISE or INVEST with this guy. He will take your money and never turn a profit. Somehow he knows how to salt the funds away and you will lose all of it.
Richard
Orange County, California
U.S.A.
He has been associated with many failed business ventures and has raised capital and attracted investors into his many schemes.
So far I am aware he has first been involved in marine business (Liffey Marine - tugboats in Vietnam but based in Singapore), This collapse and left many creditors without payment not to mention shareholders, got involved in partnerships which collapsed and there always is an excuse (it's always the other partner's fault).
He then went on to publish oil industry publications - started with Petromin in the late 70s and then walked away when fight broke out with owners who are still trying to find their money.
In the eighties there were numberous venture - which I am not so sure about. Late in 80s he got Petroleum News magazine. The investors fought with him and eventually threw him out but the business was seriously crippled I think. He also has at the same time, shady trading deals all of which went bad. I know a couple of guys who can support my story in this matter.
He had links with Vietnam - his daughter plays on Sat TV CNBC I think - she is a half-cast Vietnam American (Moara Fogarty). In the 90s he then got into Vietnam Investor magazine. This was twice or three times ressurected but eventually collapse leaving the Singapore investor in tears.
Later in the 90s he's been trying hard to keep Edu Asia going and it stopped publishing after he ran out of money.
Dont ADVERTISE or INVEST with this guy. He will take your money and never turn a profit. Somehow he knows how to salt the funds away and you will lose all of it.
Richard
Orange County, California
U.S.A.
1 Updates & Rebuttals
Expatbrian
Singapore,Asia,
Singapore
Also a Victim of this Scam Artist
#2UPDATE EX-employee responds
Fri, August 29, 2008
I'm not surprised to find this report on Luke Fogarty. I fell for his line when he said he was planning on relaunching Education Magazine in Singapore. I quit my job and joined him as Marketing Director at a good proposed salary. Additionally, my partner invested 20,000 dollars to kick off the launch. Another investor came along and put in 10,000 more. We contracted with a local publisher who agreed to supply articles, design and editorial support for the magazine. I was paid my full salary exactly once, out of the money that my partner had invested. Luke made the unilateral decision to spend the rest on rent for office space that we couldn't afford just so he would have a place to go everyday. He also bought a new computer and paid himself. After just a few months it became obvious that he had no intention of actually launching a magazine and due to his extremely poor management and reputation, we were unable to secure any advertising revenue. Instead of using the companies remaining funds to pay his staff and the partnering publisher who had done considerable work already, he spent it all on rent for the office. When I finally realized what was happening, I told the other investor, who was planning on putting in another 20,000, not to do so. I knew it would be misspent. I left the company after less than a year and shortly thereafter, Luke was kicked out of the office for not paying rent. Next he found another patsy with a successful company here called EZ Health. They agreed to fund him to launch an education magazine under their company. After he wasted those funds with no results, they told him to leave. When asked for money, Luke's typical response is, it's the company (in my case it was Education Publishing Group Pte Ltd) that owes you money, not me. With each new scamming endeavor he forms a new company which leaves previous debtors out in the cold. I'm confident he will do it again. I also know that there are many others who are owed money by Education Publishing and former companies. Extreme caution should be used before any dealings with this man.
