Blackmore Bond again puts off filing accounts

Blackmore logo 2019

The Times reports that Blackmore Bond is "set to" extend its accounting date again.

Blackmore Bond plc should have filed its December 2018 accounts by June 2019, but used the one-day-shortening loophole to legally delay filing accounts for three months. That three months expired on Friday 27th. The Times says that Blackmore will delay for another three months, which almost certainly means using the shortening loophole again.

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Shenton International files 2018 accounts, new bond launch planned for August

Shenton International logo

Shenton International Bonds plc has filed its accounts for the year ending December 2018.

In 2016 Shenton raised £3.5 million from investors in 2-year bonds and 4-year bonds, paying 9% and 10% interest respectively. Of the £2.4 million due for repayment in 2018, £1.7 million was rolled over into new bonds, with the remaining £700,000 returned to investments.

In addition to the rolled-over money, Shenton raised a further £1.2 million in 2018 for two year bonds repayable in May 2020. The new two-year bonds pay a higher rate of 10%, or 12% for investors who rolled over the previous two-year bonds.

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Hudspiths “Ponzi scheme” collapses, contagion hits Legend Lane

Hudspiths was an unregulated forex scheme that launched in 2015 and promised returns of 5% per month, along with 2% per month to be paid to its introducers.

The scheme collapsed late last year, and in early June the company applied for a voluntary liquidation. 30 investors took the company to the High Court in an attempt to force a compulsory liquidation instead. A barrister for the investors accused Hudspiths of being a Ponzi scheme. Director Karl Lubienicki told City AM the Ponzi accusation was "not true".

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MJS Capital sells Tempus Magazine to private security specialist

MJS Capital and Colarb Capital logos

Tempus, the luxury lifestyle magazine, has relaunched after a five-month hiatus, after being sold by collapsed unregulated investment firm MJS Capital (now Colarb).

Tempus was effectively acquired by MJS Capital in March 2017, and used extensively to sell its unregulated bonds, with frequent double-page ads in the magazine and advertorial articles about MJS Capital itself, which misleadingly described the bonds as low risk.

The September 2018 issue, ironically named a "Wealth Edition", was the last under MJS Capital's ownership. The magazine then ceased to publish for several months.

At the end of January 2019, however, Tempus published a further issue under new ownership. The contents page identifies Vantage Media Limited or Vantage Media Group as the new owners.

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London Capital & Finance: what happened and when?

London Capital & Finance logo

After London Capital & Finance recently admitted that it was insolvent and put itself into administration, bringing a three-year career of persistent misselling to an end, now seems a good time to look back upon its short life - and what the FCA did about it during that time.

July 2015: An obscure company called Sales Aid Finance (England) Limited renames itself London Capital & Finance, despite being based in Tunbridge Wells, about 20 miles away from Greater London's outskirts. This appears to have signalled the launch of its new business model.

October 2015: A member of the public asks the Moneysavingexpert forum about LCF after coming across them while Googling for "investment ideas". The forum is unanimous in advising them not to invest.

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