We review Marshbell’s investment paying 13.5% per year

Marshbell logo

At time of writing Marshbell offers the following investment terms:

  • Silver: 4.65%pa paid monthly for a 1 year investment
  • Gold: 8.4%pa paid monthly for a 2 year investment
  • Platinum: 12.8% paid monthly for a 3 year investment
  • Bronze: 10.2% rolled up and paid at maturity for a 2 year investment

In November 2020 Marshbell was advertising an investment via Facebook and Instagram paying 13.5% per year. Specifics of the investment term were not provided.

Continue reading for a review of Marshbell's investments.

Quinshaw Finance collapses, liquidators appointed

Quinshaw Finance logo

Liquidators have been appointed to Quinshaw Finance, whose bonds were reviewed here in September 2019.

Quinshaw claimed to offer “secure property high yield bonds” and that “investor protection is our number 1 priority”.

Posts to reviews.co.uk suggest the scheme stopped paying investors around the middle of 2020. Prior to collapsing Quinshaw had over 120 universally positive reviews.

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Viderium Limited collapses, administrators appointed

Cryptocurrency minibond scheme Viderium has collapsed and gone into administration. MHA MacIntyre Hudson LLP have been appointed as administrators.

Viderium raised £3.9 million (as at December 2018) from bonds paying 9.8% per year for a three year term, claiming "A Rated Indemnity Insurance" on the front page of its brochure.

Whether anything has happened to trigger that insurance is unknown, but I wouldn't bet on it, given that the insurance covered "any Actual or Alleged act, Error, Misstatement, Misleading Statement, Omission, Neglect or Breach of Duty or loss" and running out of money to pay bondholder returns doesn't fall under any of those things.

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Carlauren administration update: recovery still uncertain for creditors but boat and plane sold

The administrators of Carlauren Group have released their latest regular report.

There's little of interest to report on the realisation of Carlauren's property assets or hotel business. Nor is there any real further news on the personal bankruptcy of Sean Murray. Murray has had a £40 million asset freezing order imposed (which does not necessarily reflect the value of any assets held by him) but the administrators remain tight-lipped on whether any recoveries are expected from that quarter.

The administrators have managed to sell a private jet, a boat and a car, raising a net amount of £120,000 after accounting for fees and a loan secured on the jet.

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FCA gives green light to Concept Capital’s unregulated investment scheme?

Concept Capital logo

Last month I reviewed Concept Capital's unregulated investment scheme which promises investors 10% per year "guaranteed" for investing in static homes.

Last week Concept Capital got in touch and took issue with various parts of the review. The only part on which they provided any significant new information was the section where I'd discussed the risk that Concept Capital could be viewed by the FCA as an unauthorised investment scheme.

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High Street Group finally files holding company accounts, bondholders jettisoned from group

High Street Group has finally filed the December 2018 accounts for its holding company, High Street Grp Limited [sic].

Having achieved the rare feat of being overdue with not one but two sets of accounts for the same company, High Street Group remains overdue with the High Street Grp accounts for 2019, and 2018 and 2019 accounts for High Street Commercial Finance Limited.

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Fortitude’s Ajaz Shah accused of abusing ex with hot iron, under house arrest in Italy

Ajaz Shah, owner of the unregulated investment scheme Fortitude Capital, has been arrested in Italy and accused of a vicious campaign of violence and abuse against his ex girlfriend.

As reported by the Daily Mail:

A millionaire City trader has been placed under house arrest in Italy after a court heard he had allegedly beat up his ex-girlfriend and threatened to burn down her home by setting his Lamborghini sports car on fire.

Ajaz Shah Hussain was held by police in the Italian resort town of Rimini after also allegedly threatening to release a sex tape he had made with her, according to authorities.

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Buy2letcars group posts 2019 accounts, group now £10.9 million in the red

buy2letcars logo

The Buy2Letcars group of companies, consisting of Buy 2 Let Cars Limited (which borrows money from investors promising returns of up to 11% per year), Wheels 4 Sure (which uses the money to lease cars) and Raedex Consortium Limited (parent holding company) have all filed their accounts for the year ending December 2019.

The accounts have been filed using small company exemptions and did not include profit and loss accounts, and were unaudited. They therefore contain limited information.

What little we do know includes that the overall group has continued to lose money (as it did in 2018 and 2017). Raedex Limited shows net liabilities expanding from £9.5 million in 2018 to £10.9 million in 2019, while the "retained profits" line fell from minus £14.1 million to minus £18.1 million (suggesting losses of around £4 million over the year).

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High Street Group sees in New Year with second accounts filing fail

On the turn of the year, High Street Group, which had already been overdue with its 2018 accounts by 15 months, fell overdue with its 2019 accounts as well.

Private limited companies must by law file accounts with Companies House nine months after the end of the accounting year. This deadline was temporarily extended to twelve months due to lockdown. High Street Commercial Finance Limited and High Street Grp Limited fell overdue with their December 2018 accounts in September 2019 and are now also overdue with their December 2019 accounts.

The company has repeatedly blamed the pandemic for both failure to repay investors' money on time and for its failure to file accounts. Why the three month extension given by the Government to all businesses is not enough for High Street Group, and what this has to do with their December 2018 accounts which were overdue months before the pandemic started, has never been fully explained.

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