MJS Capital plc changes name to Colarb Capital plc

According to a filing with Companies House, MJS Capital plc has changed its name to Colarb Capital plc.

Over the past year, a number of investors have complained via comments on this blog and other online forums about MJS Capital failing to repay their bonds when they fell due. A common theme is MJS Capital negotiating a payment plan for the repayment of matured investments, which MJS then also fails to meet.

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Legend Lane – investment in unregulated forex, gold, energy drinks and “mystical” mumbo-jumbo

Legend Lane logo

Legend Lane is offering various unregulated investments which include:

  • Legend Lane FX Trading Platform - investment in forex paying fixed interest of 24% for a one year investment
  • Legend Lane Gold - investment in gold paying fixed interest of 24% for a one year investment
  • Legend Lane 1314 - investment in property paying fixed interest of 9% per year
  • Silver Sun Living - investment into Senior Housing paying 6-8% returns
  • Investment into a "Film Production Fund" paying 10% per year for 2 years (described on the website as "release summer 2018"
  • Investment into Loco Energy Drinks paying 9% per year for 2 years
  • Investment into "Black Cat", an "anonymous, daring, adventurous, prestigious, defining, liberating, dynamic, mystical" investment into something undisclosed
  • Continue reading for a review of Legend Lane's investments.

Blueprint Bond – IFISA bonds offering 6% per year for investing in Scandinavian engineering

Blueprint Engineering PLC is offering four year bonds (maturing 30 June 2022) paying interest of 6% per year.

Blueprint Engineering PLC is a holding company for one wholly-owned subsidiary, B.I.E. Sweden AB, which in turn wholly owns AMAB Arvika Montage AB.

Money raised from investors is to be used to meet Blueprint's overdue payments to the sellers of Arvika Montage, and more generally to enable the company to acquire further Nordic engineering businesses.

Continue reading for a review of Blueprint's bonds.

Munio Capital directors apply to dissolve the company

The directors of Munio Capital, which in 2016 offered five-year unregulated bonds paying 9.8% per annum, have applied to strike the company off the register.

Munio is six months overdue with its accounts and recently survived a compulsory strike-off in July 2018. That strike-off attempt was launched by Companies House due to the company's failure to file a confirmation statement; this latest strike-off has been requested by the directors themselves, specifically director and joint-owner Gary Williamson.

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Shenton International Bonds (finally) files 2017 accounts; most of its 2016 two-year bonds rolled over

Shenton International logo

Shenton International Bonds plc launched in March 2016 and issued two-year and four-year bonds paying 9% per year and 10% per year respectively. Shenton provides bridging finance to property developers, principally in Brazil.

Last month it belatedly filed its December 2017 accounts, three months overdue, a delay which led to Companies House briefly applying to strike the company off the register (strike-off filed 28 August and suspended on 1 September).

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Is the FSCS about to make all unregulated investments risk-free?

As I noted earlier this week, in July and August Independent Portfolio Managers had what is bound to be the first of many Financial Ombudsman complaints awarded against it, for its role in approving the literature for the collapsed Secured Energy Bond investment.

It looks highly likely that similar awards against it will follow for its role in Providence Bonds.

In June 2018, the Financial Conduct Authority cancelled IPM's permissions over an unpaid regulatory fee of £1,660 and 23 pence. The chance of IPM being able to meet the slew of claims against it, which could run into the millions, appears minimal.

Secured Energy investors still however appear confident that they'll get their money back - on the basis that the Financial Services Compensation Scheme will pay up when/if IPM goes bankrupt.

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