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Backers were told Lux Estate Capital, a purported luxury property investment firm, was worth millions and would deliver an 8 per cent return. However, the promoter is now in Spain and the backers of his Irish company are battling to get their money back.
First impressions matter, and the first impression of Lux Estate Capital Group is quite impressive. For a start, there is the stately logo, a black and white outline of a lion, with a small r attached to indicate that it has been trademarked. Then there is the company’s social media activity, portraying the business as a major player in the world of luxury property investment. Using a picture of Elon Musk, the company asks its followers on Instagram to “Be part of it”, boasting that silver members of its private investment club get an 8 per cent return on their…
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