Peer-to-peer lending sites: MSE guide discussion
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fun4everyone wrote: »shady af..
I note that this individual's account is not banned at the time I write this and he has been active on said forum today. In contrast, others have been banned for speaking out against him.0 -
One other extremely shady aspect of the whole situation is the individual who infiltrated one of the other forums and made a series of posts designed to build confidence in COL, then after the FCA got involved made some false claims in order to rally lenders against the appointment of BDO.
I note that this individual's account is not banned at the time I write this and he has been active on said forum today. In contrast, others have been banned for speaking out against him.
Yeah I have read those posts, didn't they have an invited trip to collateral offices not so long ago as well?
I agree there are clearly some agendas at work. That's just the nature of forums - especially when their are considerable sums of money involved. Surely said poster is going to have to be quiet now after the latest revelations :eek:0 -
One other extremely shady aspect of the whole situation is the individual who infiltrated one of the other forums and made a series of posts designed to build confidence in COL, then after the FCA got involved made some false claims in order to rally lenders against the appointment of BDO.
I note that this individual's account is not banned at the time I write this and he has been active on said forum today. In contrast, others have been banned for speaking out against him.
Goodness gets worse very shady indeed! I don't really know the politics deeply on that forum, but do understand there can be agendas when a lot of money is going around!
How are you approaching your P2P now, are you reducing or going about it a different way?
A few of my auto accounts if they remain stable they are much less hassle so far, touch wood! (Lending Works, Unbolted, Growth Street) and the lower rates for much less time involved and hassle seems way easier.
My biggest problem in P2P so far has been Collateral like many and next is the MT defaults. These higher rates never rewarded me personally with all this happening and even in the end if I come out ok with these two, the headaches and time involved overall has not really been worth it.
I will remain with Ablrate, but this all has made me wary going too heavy in and I still have 5k with Ablrate after with drawing £500 from the portfolio re-payment.0 -
fun4everyone wrote: »Yeah I have read those posts, didn't they have an invited trip to collateral offices not so long ago as well?
I agree there are clearly some agendas at work. That's just the nature of forums - especially when their are considerable sums of money involved. Surely said poster is going to have to be quiet now after the latest revelations :eek:
I recall at least one poster stating they were happy to increase their investment as a result of that visit.
Incidentally, he was also the source of the leaked report that failed to account for £1.4m of pledged but unlent funds and failed to mention the £400k paid to one of the directors out of the clients account. Of course, there's no proof he was complicit in the deception. No doubt he'll be interviewed as part of criminal proceedings.0 -
@masonic it is all very murky waters, I guess the Brothers and possible associates in the background will be on nerves as this unfolds and brings them to court.
I remember that Collateral meeting taking place and posts following it. Gordon on the forum was very "plausable".0 -
takesyourchances wrote: »I remember that Collateral meeting taking place and posts following it. Gordon on the forum was very "plausable".0
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takesyourchances wrote: »Gordon on the forum was very "plausable".
Yes if you mean the rep the fact they were so responsive and committed to interacting with investors definitely increased my trust in Collateral. There was a thread about FCA authorisation, I wonder if any of the rep's posts in there were misrepresenting of what was really going on.0 -
It will probably never come to light (at least to the likes of us) who else within the business was involved. I'm sure some employees had no idea what was going on and hopefully their association with Collateral will not be too damaging to their careers.
That is true, we will never know who else was involved and others as employees I am sure did not know the depths of what was going on. I guess Gordon was an employee?
I was looking into the backgrounds of the brothers last night and it is amazing the amount of pawn style businesses they opened and closed in short periods of time.0 -
fun4everyone wrote: »Yes if you mean the rep the fact they were so responsive and committed to interacting with investors definitely increased my trust in Collateral. There was a thread about FCA authorisation, I wonder if any of the rep's posts in there were misrepresenting of what was really going on.
Yes Gordon the rep, I was impressed by the response to and committed interacting as well to investors. I admit too it increased my trust in Collateral, at a point it did look like a well oiled machine.
It would be interesting to see if any posts was in relation to the FCA from the rep, also I recall them getting asked a lot about the ISA for the platform, which can't come until certain things are met with the FCA.0 -
takesyourchances wrote: »It would be interesting to see if any posts was in relation to the FCA from the rep, also I recall them getting asked a lot about the ISA for the platform, which can't come until certain things are met with the FCA.
http://p2pindependentforum.com/thread/11063/full-fca-authorisation-ifisaOur FCA application is still ongoing.
Many thanks,
Gordon
Hmmm that was late January, I don't think anything was ongoing then.0
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