The company’s directors are already defending a case in the High Court in London brought by former vet Tamsin Barks, 51, who claims to have lost £400,000 after buying seven homes in Manchester, Spain and Florida, reported the Daily Mail.
Barks said: “I am keen to see justice done and I have spoken to hundreds of other former members of Inside Track who feel the same way.”
She said over 650 people are interested in a class action adding another 300 people have asked for information.
Earlier this month Barks held a secret meeting at a Heathrow hotel with more than 200 victims of Inside Track. The company launched in 2002, claiming it could help amateur investors live off their buy-to-let incomes within three to five years, by buying flats and properties through sister company Instant Access Properties.
The firm went on to make multimillion pound profits between 2005 and 2007, but in 2008, both companies collapsed, owing millions of pounds, blaming the credit crunch and global property crash.
Since the Heathrow meeting, hundreds more investors have visited Barks’ website – iap-instant-access-properties.co.uk/wordpress – and pledged not only support, but also cash towards legal bills.
In a statement, two of the directors, Rosser and McKay denied any allegations of wrongdoing and said: “We will robustly defend any litigation to clear our names.”
