Link: All our MJS Capital articles
A filing on Companies House reveals that MJS Capital (renamed Colarb Capital in October 2018) has gone into liqudation.
MJS Capital issued 5 year bonds paying up to 9.85% per year. Despite the inherent high risk nature of a loan to a micro-cap startup company, multiple MJS directors repeatedly and inaccurately claimed that the investment was “low risk”.
A winding up hearing was held a month ago on 20 February. Since then MJS Capital CEO Shaun Prince has reportedly been trying to persuade investors in his collapsed firm to use his preferred liquidator.
MJS Capital began defaulting on repayments of capital and interest in early 2018. Despite its inability to repay investors on time, Prince claimed in an email to investors in July 2018 that the company was performing “fantastically”.
At the same time, MJS Capital was trying to persuade investors to defer repayment for a year, which was dressed up as a “switch” to new “Colarb 4” bonds which were supposedly capital protected by an insurance policy. This insurance policy was explicitly claimed to “protect the investors capital and coupon” [sic] and described as better than the Financial Services Compensation Scheme. The claim that MJS Capital bonds have equivalent or better cover to the FSCS is of course completely false.
Prince claimed to the Evening Standard last November that MJS Capital took in £20 million of investors’ money. How much of this is left is not yet known. We’ll bring you more as and when the liquidators file their reports.
if you there are any investors out there who still have not registered with an IP please do so with Jane Sanders on [email protected]
WARNING ?? DON NOT LISTEN TO SHAUN PRINCE TRYING TO COAX YOU INTO GPING WITH HIM AND HIS IP. Don’t give him another chance to take your hard earned money again. the guy is under investigation from Thames Valley Police for how he has behaved with your money. DONT FALL IT AGAIN.
*fall for it again i mean
“Prince claimed to the Evening Standard last November that MJS Capital took in £20 million of investors’ money. How much of this is left is not yet known. ”
You’re better off going down the bookies and putting a wager on there not being any of that £20m left – the odds on that bet are probably more favourable than the odds were on getting 9.85% p.a. over 5 years.
What’s really unfair is victims lose but Prince will not be penalised or sanctioned for any fraudulent misrepresentations made to investors. The perpetrators are rarely sanctioned and when they are it’s usually a pathetic, ineffective slap on the wrist.
Prince will simply set up another high risk investment and reel in new victims, that’s what these parasites do and the impotent Action Fraud let them get away with it. Legislation exists but legislation not enforced is not worth the paper it’s written on.
Shaun Prince is a complete lowlife who does not care about anyone. He was running a magazine which he shut and didn’t pay staff the money that he owed them. While staff were desperate for cash he went off on a free holiday -which was supposed to be in exchange for editorial in the magazine that was now closed. He has even put his own mother as a Director of Colarb Capital because no one else would be foolish enough to back him.
SHAUN THE “FROG PRINCE” is nothing but a liar a con artist a thief and a total W****R!! I will not rest until?