Privilege Wealth “possibly a Ponzi scheme” say administrators

The administrators of the collapsed Privilege Wealth investment scheme, which offered unregulated bonds paying 9.85% per year, have filed a Notice of Administrator's Proposals with Companies House on 23 March.

A detailed breakdown of the reasons for the company's collapse can be found in the full administrator's report, but here is the executive summary: Privilege Wealth invested investors' money in a Panamanian pay day loan company run by a man wanted by Interpol (who was later shot), as well as other pay day loan books run by Rosebud Lending, a Sioux Indian sovereign nation lender, and a company called The Oliphaunt Group. None of these investments paid a return.

With running costs of $550,000 a month, described as "rental and payroll" (so presumably this does not include the 9.85% per annum that Privilege had promised to investors), collapse was inevitable. Continue reading...

Christianson Property Capital files April 2017 accounts, reports minus 4.7 million in net assets

Christianson Property Capital Limited has finally filed its April 2017 accounts (3 months overdue), resulting in the strike-off action against it being suspended.

The accounts are micro-entity accounts and are therefore exempt from auditing and from filing a profit and loss account, meaning there is very limited information that can be drawn from them.

Nonetheless, a few facts can be gleaned from the accounts. Continue reading...

Exmount Commercial Developments – unregulated bonds paying 9.12% over 3 years and 10.35% over 5 years

Exmount Commercial Developments

Exmount Commercial Developments offers unregulated bonds paying 9.12% per year for 3 years and 10.35% per year for 5 years, paid quarterly.

The bonds can be terminated early halfway through the term (1.5 years for the 3 year bond and 2.5 years for the 5 year bond) at 45 days' notice for a nominal admin fee of £75 + VAT.

Continue reading for a review of Exmount Commercial Developments' bonds.