Breaking: Four arrested in connection with London Capital and Finance, Serious Fraud Office wants to talk to bondholders

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The Serious Fraud Office has announced that it has opened an investigation into individuals associated with London Capital & Finance, and that four individuals were arrested in the Kent and Sussex areas on 4 March 2019. All four were subsequently released pending further investigation.

The SFO has not released the individuals’ names and will make no further comment at this time.

London Capital & Finance is (despite its name) based in Tunbridge Wells, Kent.

London Capital & Finance’s principal marketing agent, Surge Financial, is based in Brighton, Sussex. The SFO has not named Surge as a target in its investigation. Update 18.3.19: A Surge spokesman has told the Evening Standard that nobody from Surge has received “any contact whatsoever”.

The SFO wants to speak to anyone who invested in LCF between 1 June 2016 and 31 December 2018. They can be contacted via this online form.

The investigation into LCF has been codenamed “Operation Axite” (which despite sounding a bit like a mineral is a made-up word).

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6 thoughts on “Breaking: Four arrested in connection with London Capital and Finance, Serious Fraud Office wants to talk to bondholders

  1. Great news, this was so clear after LCF were stopped from trading with people’s money this was serious fraud. This LCF individuals should be jailed and bondholders funds returned in full.

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  2. I am sickened by this has I had invested some of my Pension pot I had worked for.
    These people must be brought to Jusice after these dogged deals that have ruined people’s lives….

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  3. My wife and I had saved for our retirement, we both wanted a decent return on our capital 80k between us, we were told this company was reliable on the internet, after a discussion with them we placed this large amount of money with LFC, at first we received interest, but this stopped end of December 2018, obviously we are really concerned, we are both 84 years old and have no way to earn the amount lost, these frauds should have all their assets including house and property taken from them besides a long prison sentence.

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  4. The principal directors at LCF were Simon Patrick Hume Kendall (the name conjures up dodgy dealings), Andy Thomson and Simon Golding. One of the biggest loans made by LCF to companies using LCF investors’ money was London Oil & Gas that received a staggering £124 million. And guess who was the principal director of London Oil & Gas (itself now in administration) but none other than Mr Simon Patrick Hume Kendall who conveniently resigned from LCF on 26 March 2019 just before he was arrested.

    If it’s any help, London Oil & Gas is registred at 10 Arthur Street, London EC4R 9AY (Tel: 020 3397 6538.

    Thankfully, I am not a LCF bondholder but helping someone who is to get compensation (unlikely, given the performance of the FCA which is disgraceful).

    Paul Careless, the owner of Brighton-based Surge, raked in £58million from LCF for ‘sevices rendered’. It should be noticed that Surge employees also doubled as sales agents for LCF, luring misled investors into parting with cash in the dodgy ISA scheme (now shown to be illegal and therefore worthless).For him to suggest that he had no connection with LCF is, to put it politely, absolute bollocks. I am surprised the SFO has not put him on its radar.

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