Tyram Lakes (via Rothgen Capital) – we review their unregulated bonds paying 8% per year

Tyram Lakes logo

Rothgen is offering unregulated bonds paying 8% a year to raise funds for the Tyram Lakes eco lodge.

The bonds are currently being advertised via TV adverts on the Sky Property channel.

Note that while the Rothgen group of companies includes an FCA-regulated company authorised to provide advice (Connected Financial Services Ltd which trades as Rothgen Capital), the investment itself is unregulated, being a corporate loan note issued by Rothgen Management Limited (an unregulated company).

Continue reading for a review of the Tyram Lakes bond.


MJS Capital shell company (companies?) put into administration

MJS Capital and Colarb Capital logos

A shell company connected to troubled unregulated bond issuer MJS Capital has gone into administration.

MJSC Marketing Limited (it will not be lost on our readers that MJSC has the same initials as MJS Capital) was incorporated in October 2017 by Nigel Anthony Peck.

Nigel Peck was listed in MJS Capital's original Information Memorandum as a member of the Advisory Board. His exact role was not specified.

On 25 October MJSC Marketing Limited was put into administration. Paul Cooper and Asher Miller of David Rubin & Partners have been appointed as administrators.

[Continue reading...]

Essex and London Properties shut down by the High Court for operating a Ponzi scheme

Essex and London Properties Limited, which apparently offered 8% per year for three year bonds and 12% for one year bonds (I have been unable to verify whether this was correct or whether the Financial Times has swapped the two coupons around, which would make more sense), has been liquidated by the High Court.

The Insolvency Service has characterised the company as a Ponzi scheme, on the basis that when the records of its escrow payment providers were analysed, they indicated that new investors' money was being used to pay existing investors' interest payments, instead of interest payments coming from property returns.

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Providence Bonds’ Chris Byrne sings like canary, gets stay of sentencing

Back in September Chris Byrne, an adviser for Jersey-based Lumiere Wealth, who advised unsophisticated investors to invest in the unregulated Providence Bonds opportunity, failing to disclose that Lumiere Wealth was in fact owned by Providence, was convicted of fraud.

Byrne was convicted not just for his misselling of Providence Bonds, but for other frauds including conning a near-blind woman into making a £1 million personal loan to him.

News from Jersey then went silent for a month and a half. Until last week, when the Jersey Post revealed that Byrne's sentencing had been delayed at the last minute, on the grounds that Byrne had been helping the police of neighbouring Guernsey with their inquiries into a related investigation.

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Adelpha Capital – we review their unregulated bonds paying 4.5% – 6.5% per annum

Adelpha Capital is offering unregulated bonds paying interest as follows:

  • 30 Day access bond – 4.5% per year quarterly income
  • 18 month bond – 5.5% per year for quarterly income or 5.6% if rolled up and paid out at the end
  • 3 year bond – 6% per year for quarterly income or 6.5% if rolled up and paid out at the end
  • 5 year bond – 6.5% per year for quarterly income or 7.6% if rolled up and paid out at the end

Continue reading for a review of Adelpha Capital’s bonds.

REWS (Renewable Energy and Waste Solutions UK plc) files December 2017 accounts; further investment needed

In August REWS (Renewable Energy and Waste Solutions UK plc), which has raised funds via a series of bonds paying between 8% and 20% per year, filed its accounts for the period ending December 2017.

The company was incorporated in February 2017 and 2017 was, in the directors' words, "a building year". The company is building a waste processing and energy production facility and expects to roll out its product in the last quarter of 2018.

As you would expect, the company made no revenue in 2017 as its plant was still under construction, and posted a £378k net loss.

The accounts reveal (under note 14) that the company had raised £2.8 million from investors as at December 2017, of which a quarter (£724,000) was paid out in issue costs (i.e. commission, accounting fees, legal fees, printing costs etc).

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MJS Capital issues rambling announcement explaining its name change to Colarb Capital, claims its investment is “near riskless”

MJS Capital and Colarb Capital logos

A couple of weeks ago we noted the name change of MJS Capital to Colarb Capital. At the time of writing the mjs.capital site had been withdrawn and no website was available for Colarb Capital.

The mjs.capital website has now been restored, with a pop-up explaining the reason for the name change and a redirect to the new website, colarb.capital.

MJS Capital Plc is a UK company setup in March 2015 the decision to call our company MJS Capital was not our original choice instead we chose Fidelity One Capital however regulators at the time felt this was to similar to that of another well know finance firm and we would have to choose another. [Sic. Honestly. -Brev]

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