Strike-off notices against LP Bonds plc (formerly London Property Bonds) and Bentley Global, reported here in mid-November, have been suspended by Companies House, due to objections being submitted.
Continue reading...Author: Brev
Takeaways from the Gloster report into the collapse of London Capital and Finance
On Thursday 17th, Dame Elizabeth's Gloster's long awaited report into the £237 million collapse of London Capital & Finance was published.
The report is damning and makes very clear that the FCA bears a large part of the blame for LCF accumulating, and losing, as much investor money as it did.
Continue reading...We review Concept Capital’s investment paying 10% per year
Concept Capital offers an unregulated investment in pre-fab "static homes" paying a "guaranteed" 10% per year.
Investors invest their money to Concept Capital in units of £39,999 (although the website suggests that the minimum investment is £20,000), which is used to buy a static home to be rented to low-income government-supported tenants. Concept Capital "guarantees" to pay the investor 10% per year. Investors' money is tied up for two years, after which Concept Capital undertakes to buy the static home back from them.
Continue reading for a review of Concept Capital's investment.Bond Review celebrates 3rd birthday
Today marks the third anniversary of Bond Review's first ever article, our review of London Capital & Finance, which went on to collapse owing £240m to investors.
Continue reading...Imperial Investments issued with strike-off notice
The UK arm of Ponzi scheme Imperial Investments, Investments Imperial Limited, has been issued with a strike-off notice by Companies House after failing to file up to date details of its ownership.
Imperial Investments is run by convicted drug dealer and electricity thief Scott Wood and insomniac former soldier Dan Pugh, and claims to pay a return of 350% per year.
Continue reading...Blackmore Bond investors facing total losses
The latest update from the Blackmore Bond administrators reveals that investors may be facing total or near-total losses.
Potential gross recoveries have been revised from £5 million down to less than £1 million, due to the difficulty of selling properties / building sites as a forced seller during the pandemic, and the fact that Blackmore borrowed money from expensive short-term lenders whose security over the properties outranks the bondholders.
With the administrators' costs and legal costs already standing at over £1 million, which also stand ahead of Blackmore's ordinary investors in the queue, this means bondholders are facing total losses.
Continue reading...Fluid Trust plc (Fluid ISA) subject to strike-off notice
Fluid Trust plc has been issued with a strike-off notice by Companies House after failing to file up to date annual accounts since September 2020.
Unless the company files its accounts, or a creditor or other third party successfully objects to the striking-off, Fluid Trust plc will be removed from the register and all its assets will become legally property of the Government (though this can be reversed).
Continue reading...Minerva Lending plc in default of repayments to investors
Minerva Lending plc has been in default of series C1 and series C2 loans owed to its investors since July 2020, according to reports filed with the Irish Stock Exchange. The bonds were repayable this year.
Continue reading...As stated in the prior announcement, the cause of the delay is that the underlying borrowers have failed to repay loans due for repayment on 30 June 2020.
We review Next Gen Solicitor’s bonds paying 8% over 12 months
Next Gen Solicitors offers an unregulated investment in litigation financing paying interest of 8% per year for an investment of 12 months.
Unregulated third-party introducers promoting Next Gen Solicitors claim that its investment is "pandemic and recession proof" and "investor capital is 100% covered under the ATE [After The Event] Insurance policy".
Continue reading for a review of Next Gen Solicitors' loan note.Fake Bond Review Twitter account warning
A Twitter account "@InsideLeft3" run by a racist has taken to claiming to be myself (and an unrelated third party). Continue reading...
