Capital Alternatives [text deleted by MSE Forum Team]

SnowMan

The Financial Conduct Authority have announced on their website today that they have taken Capital Alternatives to court over investment schemes they believe are illegal

http://www.fca.org.uk/news/capital-alternatives-court-investment-schemes

The High Court has ordered a preliminary trial to decide whether the schemes are CISs. The date of this trial has not been confirmed but it should take place in the autumn of 2013.

imoneyop

Tobias_Haynes wrote: »

Dear All,

We represent investors who have invested in Capital Alternatives and other associated companies.

Reported for posting contact details.

Website redirects to another site and uses Nominet's opt-out to hide registrant's address - all rather dodgy.

speckymeadows

At the time of writing this post the closing statements of the defendants barristers and the FCA barrister have been made to the court. The Judge is considering his verdict which can, in complicated cases, take several weeks.

Several groups of investors have taken legal advice over the last 12 months and different law firms have been involved.

My advice is to sit tight and wait for the FCA to advise. They will ensure that all known investors are advised of the outcome of the trial.

If the FCA win the case their involvement does not end there. They will take steps to recover funds from the assets of the defendants no matter how long it takes. Individual investors do not have to appoint their own solicitors to do this.

It is highly possible that the losing side in this case, whether FCA or defendants, will appeal. There could still be quite some time to go yet before this is finally resolved. Sit tight and save your money for the timebeing.

SnowMan

http://www.fca.org.uk/news/fca-wins-case-against-capital-alternatives

The High Court has ruled that two investment schemes, promoted by Capital Alternatives and a number of other firms, were collective investment schemes. They were promoted and operated without Financial Conduct Authority authorisation.

What happens next etc

http://www.fca.org.uk/news/consumers/capital-alternatives-court-investment-schemes

jimjames

SnowMan wrote: »

http://www.fca.org.uk/news/fca-wins-case-against-capital-alternatives


What happens next etc

http://www.fca.org.uk/news/consumers/capital-alternatives-court-investment-schemes

Does that mean the FCA thought that Capital Alternatives was a scam?

Bluegrass

Capital Alternatives sold the products concerned and were taking a substantial cut of the incoming funds - up to 50%!!
It appears they are also appealing the court ruling along with African Land, Capital carbon credits/reforestation projects, but in their case only the Australian part.

Another note for any investors via Capital Alternatives in one of their previous products - Capital Ground Rents Ltd, offering a ground rent investment in London property. This company is another of Robert McKendrick's (Director of African Land Ltd).
This company has a strike off action noted on Companies House website.

marchbridge

For any investors who invested in African Land, and like myself, are now strapped for cash with no income from the investment, and no way out thanks to the "business activities" of director Robert McKendrick - check out his wife's facebook page (Priya McKendrick). Looks like someone's been spending some of our money!!

passingcloud

Can't wait to see the new Porsche for sale on autotrader with a full service history!!

passingcloud

All investors should check out Oakland Institute article published today


Its called We harvest you Profit


http://www.oaklandinstitute.org/publications

marchbridge

Any investors who still believe African Land Ltd is an honest company, need to read the Oakland Institute report. It will clarify the real situation.