Timeline of events: Gravity Child Care Investments
2010 - Company Formation
The company is incorporated on the 6th December 2010, with Nicola Jayne Fairweather as director. According to This Is Money
, the company was to gain capital and invest it into buying care homes catering for children with mental difficulties to invest in around 50 homes, and recoup investor funds through payments from the local councils.
2015 - Statements DelayedUntil 2015, by which time £millions had been invested through cash investments as well as through SIPP pensions, things seemed to be going well. But then, statements that were due failed to appear, causing concern among some investors.
2018 - Liquidation and Paper TrailIn late 2017, the company entered into insolvency proceedings, and liquidators from Duff & Phelps were called in. Through the papertrail, it was discovered that of the 50 planned care facilities to be invested in, just 2 had been purchased, with 1 operational, looking after no more than 10 children, according to This Is Money.
2018 - Sri Lanka & Dubai
When the liquidators chased the paper trail to acertain where the money had gone, it found that around £600,000 had been spent on the 2 care homes. The rest of the paper trail seemed to lead to foreign countries.
“Money went to Dubai, and potentially to Sri Lanka” said an unnamed source quoted in This Is Money.
A statement published by the administrators shows that the firm had debts of £14.1 Million.