FCA orders London Capital & Finance to remove all its marketing materials

London Capital & Finance has been ordered by the Financial Conduct Authority to remove all its marketing materials.

At time of writing, every page of its website londoncapitalandfinance.co.uk has been replaced with the following notice: FCA marketing Continue reading...

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Fuzzy Brush accounts overdue, strike-off notice issued by Companies House

Fuzzy Brush Products Limited was previously reviewed on this site in April when it was offering 1 and 2 year bonds paying interest of up to 14.43% per year.

Since that review, Fuzzy Brush has also started offering investment in its vending machines, under which investors invest up to £250,000 in Fuzzy Brush vending machines in exchange for a return of up to 19.7% per year for a 3 or 5 year term.

Fuzzy Brush Products has been overdue with its December 2017 accounts since September 2018, and Companies House has now issued a strike off notice.

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Court date finally set for Government’s Store First winding up petition

A court date has finally been set for the Government's winding up petition against Store First and related companies.

The winding up petition was originally announced back in July 2017, but was then adjourned. The trial is now due to take place on 15 April 2019 (almost two years after the original announcement) at the Manchester District Registry of the High Court.

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Cesco Investments – plagiarised website and unregulated bonds paying 3.5% per year

Cesco Investments logo

Cesco Investments offers bonds paying 3.5% per year, according to its website.

I have seen online reports, since deleted, claiming investors have been contacted with offers of higher rates.

However, 3.5% is the rate quoted on Cesco Investments’ website (cesco-investmentsltd.com), so we will go with that. Few details are provided; a “Find Out More” link underneath the description of Cesco’s bonds doesn’t work at time of writing.

Continue reading for a review of Cesco Investments’ bonds.

Luxury yacht funds, gold-plated AK47s and blatantly misleading ads – we look back on MJS Capital’s ownership of Tempus Magazine

MJS Capital and Colarb Capital logos

Tempus Magazine was a luxury lifestyle magazine first published in 2012. If you liked yachts, luxury holidays and pictures of watches (lots of pictures of watches), Tempus was the magazine for you.

In March 2017 Tempus was effectively acquired by the unregulated minibond issuer MJS Capital. MJS MD Shaun Prince became its Chief Executive Officer, and the owner was named in Tempus' contents pages as Tempus Media Limited (taking over from Curve Content Limited). Tempus Media Limited was wholly owned by Martin Westney, an MJS Capital director.

This arrangement was referred to by Tempus as "sponsorship" but having the same CEO as your "sponsor", having another director of your "sponsor" owning the company which is named as the publisher, and substantial influence on editorial output goes well beyond sponsorship.

Oddly, Tempus Media's September 2017 accounts claimed it was a dormant company, even though by then Tempus Magazine clearly stated that it was owned by Tempus Media Limited.

Tempus' website (tempusmagazine.co.uk) is now down, and the magazine has not published its usual issue for November. Martin Westney has also applied to have Tempus Media Limited struck off the register. Oddly, his application to Companies House claims that Tempus Media Limited had not traded in the past three months, even though he signed this application on 4 September, only a day after Tempus Media's last issue was published.

With Tempus Magazine apparently no more, let's take a moment to reminisce about its history under its new owners. Continue reading...

Marcello Group delays filing accounts by four months

Marcello Developments Limited

Marcello Developments (UK) Limited launched in 2015 and raised £3.6 million from investors in five year loan notes paying interest of 8% in years 1-2, 9% in years 3-4 and 10% in year 5.

The company's February 2018 accounts would have been due at the end of November 2018, however at the last minute - days before they became overdue - it decided to extend its accounting date to June 2018. This means it now has until March 2019 to submit the 2018 accounts under UK company law.

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