We review Fluid ISA’s IFISA bonds paying 6% per year

October 15, 2019October 4, 2019 ~ Brev ~ Leave a comment

Fluid is offering IFISA and unregulated bonds paying 6% per year for a three year term.

Funds raised are to be used to invest in short-term bridging loans.

Continue reading for a review of Fluid's IFISA bonds.

Company providing ISA wrappers to unregulated bonds collapses; LCF administrator appointed

October 14, 2019October 13, 2019 ~ Brev ~ Leave a comment

Asset manager Reyker Securities has been placed into special administration.

Reyker was mostly known as a stockbroker and Discretionary Fund Manager, but part of its business involved approving promotional literature and providing an ISA wrapper to two investments reviewed here: Blueprint Bond and Astute Capital.

Both Blueprint and Astute Capital remain in business and should in theory be largely unaffected by Reyker's collapse, as the ISA status of investors' funds should remain valid despite the administration.

Providence and Secured Energy investors compensated in full

October 10, 2019October 4, 2019 ~ Brev ~ 2 Comments

Last month it was revealed that the Financial Services Compensation Scheme has compensated investors in Providence Bonds and Secured Energy Bonds in full (up to £50,000), paying out a total of £10 million (£5 million for each).

Providence and Secured Energy Bonds paid interest of 8.25% and 6.5% per year. Both collapsed with total losses to investors.

We review Lidex Trading – scam offering fixed dividends of 21% per year, er, um, 10% per year

October 8, 2019October 8, 2019 ~ Brev ~ 1 Comment

Lidex Trading claims to provide a "Lidex Trading Multi Asset Fund" paying a fixed dividend of 21% per year, although in their very next paragraph they claim the dividend is 10% a year. According to a reader, Lidex Trading are cold-calling investors, falsely claiming to be following up a request for investment material. Continue reading for a review of Lidex Trading.

Introducer turns on Carlauren and approaches “fraud litigation” lawyers as investors allege it took 10% commission

October 7, 2019October 4, 2019 ~ Brev ~ 2 Comments

Rancor continues to circle the crumbling Carlauren Group.

Carlauren, reviewed here in April 2018, raised money from investors promising 10% per year returns from investment in care homes. The company run out of money to pay investors in February 2019, and its collapse has meant frail and elderly care home residents being ejected with 24 hours' notice, and hotel properties left to rot.

On the public Facebook group Sandown Hub, a resident of Sandown noticed that one of its former introducers, One Touch Property Investment (officially One Touch Solution Ltd), was apparently continuing to sell units in its care home.

One Touch clarified that it was no longer selling Carlauren investments. In the ensuing thread, it revealed that it has approached a "fraud litigation solicitor" on behalf of investors to pursue Carlauren over "misrepresentation".

Viderium files first accounts, fails to meet profit target

October 3, 2019September 29, 2019 ~ Brev ~ 1 Comment

Cryptocurrency and data centre firm Viderium has filed its first accounts for the year ending December 2018.

The company aimed to raise £5 million from bonds paying 9.8% for a 3 year term, reviewed here in June 2018 (its accounts say their loans carry interest between 9.8% and 12%). Its accounts show that as at December 2018, it missed its target by about £1 million, with total creditors of £3.9 million.

Blackmore Bond again puts off filing accounts

October 1, 2019September 30, 2019 ~ Brev ~ 2 Comments

The Times reports that Blackmore Bond is "set to" extend its accounting date again.

Blackmore Bond plc should have filed its December 2018 accounts by June 2019, but used the one-day-shortening loophole to legally delay filing accounts for three months. That three months expired on Friday 27th. The Times says that Blackmore will delay for another three months, which almost certainly means using the shortening loophole again.