Charter Cats Arrest - Wildcat / Jaguar Catamarans

paulrack · 19-10-2009, 09:02

I have just seen this article in a Cape Town newspaper regarding two people being arrested from Chartercats. I know quite a few American buyers lost money when they went insolvent about two years ago. The police are asking for anyone who lost money with Chartercats to come forward. I have scanned in the newspaper article.

Therapy · 19-10-2009, 11:12

There is an error in opening the file. The file has been damaged and could not be opened.

So says my Adobe.

sabray · 19-10-2009, 11:15

no problem opening it for me

paulrack · 19-10-2009, 11:30

I checked from another computer and it opened fine

Therapy · 19-10-2009, 11:46

I guess I am due for a format and reinstall.

I have a few other glitches too.

c-kow · 19-10-2009, 20:21

South Africa yacht brokers charged with fraud

link for those who don't want to download

maxingout · 19-10-2009, 21:11

Having a cat built by a small company can be risky business as unethical behavior by a few principals in the company can steal the dreams of many people.

When we had our Privilege 39 catamaran built in France around 1992, the American dealer was having financial problems that could have cost us tons of money if we were unlucky. The American Dealer was nearly insolvent and was borrowing from Peter to pay Paul. Jeantot Yachts was reticent to release our yacht from the factory because all of the money had not been paid on a previous yacht ordered by the American dealer. We had a lawyer do some legal maneuvers so that the yacht never passed into possession of the American dealer and it would not become an asset of the company to be haggled over in bankrupty proceedings. Very scary.

I learned my lesson. Always buy a yacht through an agent who has an escrow account that keeps everything on the up and up. The Privilege dealer eventually was taken over by a new owner and never had to declare bankrupty.

harmony80 · 21-10-2009, 12:06

Nicole Hough's parents, Eric and Kim Schoeman, sold many of these boats in the U.S. and eventually sold the company to their daughter and son-in-law; They are still in business and are building power cats and luxury real estate/marinas in So. Africa. In fact, the Jaguar36 is still being built and is sold by their Classic Cats company: Jaguar Catamaran For Sale 36 Foot Luxury Multihull Sailing Boat
Buyer beware.

**TaoJones** · 21-10-2009, 13:02

From the More About Us page at http://jaguarcat.co.za/:

Quote:

We had the tiger by the tail and our operation expanded from 30 to 350 people in a very short space of time. After years of exhibiting at the many boat shows all over America, and beginning to feel the need to retire, Eric and I decided to bring our youngest daughter and her husband into the business. Slowly we began to take a back seat and give more control to them. They became directors and there were no limits to our success. Together, as a family, we were strong.

Or so we thought.

Little did we know what the impact of being too generous and trusting would be. Over a four year period from when they joined us, our most trusted daughter and her husband, unbeknown to us, chose to be less than honest in their business dealings within the company. We had been made two very good cash offers to buy our business, but had elected to sell it to our daughter and son-in-law instead. The transaction called for a deposit and the balance to be paid over the long term out of the proceeds of the company. This was never to be. Instead they set up an operation designed to swindle us out of everything we had. When we discovered what they were doing, money had long since gone out of the back door, and the company was in trouble. We were in trouble. Several of our clients would be in trouble too.

Apparently, Kim and Eric Schoeman are not among those others expected to be arrested in the ongoing investigation.

To read the entire About Us by Kim and Eric Schoeman, go to: catamarans and multihulls for sale | new and used | Catamaran-World.com - About Us

TaoJones

Therapy · 21-10-2009, 16:51

Quote:

Originally Posted by TaoJones

From the More About Us page at http://jaguarcat.co.za/:Apparently, Kim and Eric Schoeman are not among those others expected to be arrested in the ongoing investigation.

To read the entire About Us by Kim and Eric Schoeman, go to: catamarans and multihulls for sale | new and used | Catamaran-World.com - About Us

TaoJones

Interesting.

And it is a pretty good cat.

19-10-2009, 21:11	#7
maxingout Registered User Join Date: Dec 2006 Location: Fort Pierce, Phoenix Boat: Privilege 39 Catamaran, Exit Only Posts: 917	Having a cat built by a small company can be risky business as unethical behavior by a few principals in the company can steal the dreams of many people. When we had our Privilege 39 catamaran built in France around 1992, the American dealer was having financial problems that could have cost us tons of money if we were unlucky. The American Dealer was nearly insolvent and was borrowing from Peter to pay Paul. Jeantot Yachts was reticent to release our yacht from the factory because all of the money had not been paid on a previous yacht ordered by the American dealer. We had a lawyer do some legal maneuvers so that the yacht never passed into possession of the American dealer and it would not become an asset of the company to be haggled over in bankrupty proceedings. Very scary. I learned my lesson. Always buy a yacht through an agent who has an escrow account that keeps everything on the up and up. The Privilege dealer eventually was taken over by a new owner and never had to declare bankrupty. __________________ Dave Exit Only http://maxingout.com

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19-10-2009, 11:12	#2
Therapy Registered User Join Date: Jul 2007 Location: W Florida Boat: 16ft Jon, 15hp Honda - Gemini 105Mc #1044 Posts: 2,317	There is an error in opening the file. The file has been damaged and could not be opened. So says my Adobe.

19-10-2009, 11:15	#3
sabray Registered User Join Date: Aug 2008 Boat: corsair f-27, PETERSON 44 Posts: 223	no problem opening it for me

19-10-2009, 11:30	#4
paulrack Registered User Join Date: Apr 2009 Location: Cape Town Boat: Lavranos 34 "Windhover" Posts: 44	I checked from another computer and it opened fine

19-10-2009, 11:46	#5
Therapy Registered User Join Date: Jul 2007 Location: W Florida Boat: 16ft Jon, 15hp Honda - Gemini 105Mc #1044 Posts: 2,317	I guess I am due for a format and reinstall. I have a few other glitches too.

19-10-2009, 20:21	#6
c-kow Registered User Join Date: Sep 2009 Posts: 47	South Africa yacht brokers charged with fraud link for those who don't want to download

21-10-2009, 12:06	#8
harmony80 Registered User Join Date: Apr 2009 Location: Washington, DC Boat: Caliber 35 - Harmony Posts: 36	Nicole Hough's parents, Eric and Kim Schoeman, sold many of these boats in the U.S. and eventually sold the company to their daughter and son-in-law; They are still in business and are building power cats and luxury real estate/marinas in So. Africa. In fact, the Jaguar36 is still being built and is sold by their Classic Cats company: Jaguar Catamaran For Sale 36 Foot Luxury Multihull Sailing Boat Buyer beware.