The company was founded by Darren Winters, whose chequered history has been widely exposed in the media. WIN operates on a similar basis to Inside Track, which collapsed last year.
Customers are tempted in to a free seminar on investing where they are given a highly polished sales pitch to persuade them to part with up to £3,100 for a three day intensive seminar on investment, at which the company has claimed to have 500 attendees. They are then encouraged to join an investment club.
Here’s an excerpt from an investment forum as a taster:
"What are we going to talk about today? Well first of all, I just want you to imagine this scenario. Let's just imagine that I have given each of you £1m, and it's in a safe. And that's pretty good news on the face of it. But what if I then told you that only I have the combination? You don't have the combination. Not such good news, is it? But when you think about it, the only thing between you being rich and you not being rich is that combination."
So begins my Win Investing 'Wealth Workshop' - a free three hour seminar that boasts, "No catches. No gimmicks. That's our promise to you".
"And I can't help but think about that programme Who wants to be a Millionaire?" continues Alan Johnson, the Win Investing frontman this evening. "My wife always says to me it's only easy if you know the answers. And that's true. If you knew all 15 answers it would be quite an easy thing. So it's just the answers. It's just a question of knowing something and not knowing something. And the stock market is exactly like that."
"Is investing really a question of having THE answers and pocketing a million pounds? And does Mr Johnson really hold the combination that would unlock £1m from a safe for us all? Perhaps so, but getting it out of him is not going to be easy. Within minutes, he acknowledges that tonight he'll only be giving us "the three-hour tip of a two-day iceberg". And that iceberg is a far cry from the free three-hour seminar. It turns out to be a course costing £3,100, but "only £1,450" if we sign up tonight"
The voluntary arrangement proposes that creditors accept 45p in the £ over the next five years. Insolvency practitioners Walsh Taylor are believed to be the nominated supervisors.