The administrators of Signature Living Hotel, the parent company of the Signature Capital investment scheme, have released their initial report.
How much the company owes to investors is difficult to pin down. Signature Capital consists of a dizzying web of 106 currently active companies controlled by Lawrence Kenwright. Although it was these subsidiaries that borrowed money from investors, a guarantee was typically given by Signature Living Hotel Ltd as the parent company.
Strongbox uses investors’ money to buy construction equipment, which it claims to lease out to major infrastructure developers. It claims to provide “Up to 25% ROI per annum” and that “In 2018, investors who leased their equipment through Strongbox made a 24.76% return on their investment”.
Strongbox is currently being promoted to UK investors by Instagram.
Continue reading for a review of Strongbox’s construction leasing investment.
Administrators Duff and Phelps have released their initial report into collapsed property minibond scheme Blackmore.
Of £46 million raised from investors, director Patrick McCreesh has estimated in a Statement of Affairs that less than £5 million is likely to be realised to pay them back.
Eco Equity is offering convertible loan notes paying 15% per year. At the end of a 3 year term, investors will receive shares in the business. Investors' funds are to be used to produce cannabis in Zimbabwe.
Its notes are currently being promoted via Facebook and Instagram, described as a "Secure Pre-IPO offer".
for a review of Eco Equity's convertible notes.
To nobody's great surprise, the FCA announced this week that the temporary ban on marketing minibonds to retail investors would be extended indefinitely.
It would have been big news if the FCA had come up with any reasons why promotion of ultra high risk unregulated minibonds to retail investors should be allowed to start up again.
The liquidators of MJS Capital have released an update into the first year of its winding up.
In total MJS Capital raised £42 million from investors, including via unregulated introducers. Claims for £36 million have been received by the liquidators and they estimate a further £6 million is yet to be claimed.
Allansons LLP, the solicitors behind a collapsed investment scheme which offered returns of 50% over 6-18 months, described as "zero risk" and "100% secure" by its third-party introducers, has gone into voluntary liquidation.
Voluntary liquidation indicates that sole director Roger Allanson instigated the process rather than investors doing so.
Quanloop borrows money from investors at the following rates:
- 6.5% to invest in "low risk" loans with a loan to value (LTV) of up to 55%
- 9.5% to invest in "medium risk" loans with an LTV of up to 85%
- 13.9% to invest in "high risk" loans with an LTV of higher than 85% or entirely unsecured
Quanloop is currently running Facebook ads claiming "Quanloop will pay you at a far better rate than any bank has to offer".
for a review of Quanloop's loan investments.
Accumulate Capital is run by an ex-alumni of Signature Capital, Paul Howells, who formerly described himself as a "Partner" at Signature. Its corporate entity was originally incorporated as EQT Capital Limited by Sarah Schofield, a director of two Signature companies. Signature Capital collapsed into administration in April.
Let's be very clear - the fact that both Accumulate's once and current owner were ex-Signature alumni does not mean that Accumulate is the same company as Signature.
One thing Accumulate and Signature do share however (apart from ex-Signature staff) is a predilection for pointless legal threats, while withholding information from their own lawyers.
The Hit Rate Edge Sports Betting, which is currently promoting itself via Facebook ads, claims to offer "tax-free income" of 25% per month and "consistent income no matter what happens to financial markets".
for a review of The Hit Rate Edge's investment.