Carlauren collapse shows it’s not just investors who suffer

December 10, 2019November 29, 2019 ~ Brev ~ 2 Comments

With a few exceptions, investors in collapsed unregulated investment schemes generally find sympathy in short supply.

The media will occasionally print the hard-luck story of a someone who invested their entire pension lump sum, or an injury compensation payment, but the news cycle usually moves swiftly on.

Park First told Russian investors that they’d repaid buyback investors

December 5, 2019December 2, 2019 ~ Brev

Reader Sally Jones has drawn my attention to some eye-opening posts over the past year from collapsed unregulated car park investment scheme Park First's Russian Instagram account.

All quotes below have been machine translated from the original Russian.

Smith & Williamson sees off rival bid for Park First administration

December 4, 2019December 3, 2019 ~ Brev ~ Leave a comment

Smith & Williamson has succeeding in seeing off rival Quantuma's bid to investors to be appointed administrator of Park First.

A letter sent to Park First investors on Monday 2nd confirms Smith & Williamson's proposals for the administration were accepted in full.

Carlauren goes into administration (for real this time)

December 3, 2019December 2, 2019 ~ Brev ~ 2 Comments

At a court hearing in London last week, Carlauren Group was finally put into administration.

Lawyers for Carlauren investors alleged that Sean Murray transferred significant sums into his own personal account.

Murray responded that the money was accounted for and was just resting in his personal account.

Signature Living continues to struggle with repayments, libels owner’s own brother, reports him for fraud

November 29, 2019November 29, 2019 ~ Brev ~ 1 Comment

Unregulated hotel investment scheme Signature continues to struggle with repayments to investors, and has been the subject of a series of news articles from outlets including the BBC and the Liverpool Echo in recent weeks.

Six months ago in May the BBC first covered Signature's late payments to investors.

Two weeks ago the BBC reported on international investors flying into the UK in attempt to chase their money.

Breaking: Blackmore to delay interest again

November 29, 2019December 3, 2019 ~ Brev ~ Leave a comment

Blackmore Bond is to delay its already-late October interest payment again, The Times reports.

Days before its October interest payment fell due, Blackmore announced that payment would be unilaterally delayed until November. That deadline has now also been missed.

FCA announces 12 month ban on horses leaving through open stable door

November 27, 2019November 27, 2019 ~ Brev ~ 6 Comments

The FCA dramatically announced yesterday that it would ban minibonds from being marketed to retail investors for a period of 12 months, starting on 1 January.

In addition, all marketing material approved by an authorised firm will have to declare any commissions paid to third parties (something we've already seen from Blackmore and The Capital Bridge in recent months).

During the temporary 12 month ban, the FCA will consult on more permanent measures.

What exactly this is supposed to achieve is difficult to see, until you remember that a decision on who will replace Mark Carney as the UK's top economic panjandrum is expected any day now. Former bookies' favourite Andrew Bailey is badly in need of something that makes it look like he has a grip. This is something.