London Capital and Finance

AnotherJoe

sully1311 wrote: »

Info from the bondholders meeting with S&W yesterday: http://www.cityam.com/276665/london-capital-finance-investors-rage-against-fca-ey-and

A good point in there about the auditors. If they have been negligent, is there a case for compensation agaisnt them? E&Y in particular seem to have signed off at a stage where the accounts were exceedingly fragile shall w e say?

Supercalafragalistic

GDB2222 wrote: »

Yes, Neil Williams. What do you have against him, exactly?

Nothing against Neil Williams at all. Seems like a thoroughly decent chap by all accounts.

GDB2222

So, why did you post the 'two degrees of separation ' nonsense?

Malthusian

GDB2222 wrote: »

You seem to think that every penny Captain Careful spends is tainted. That may be a reasonable view, but then why pick on Neil Williams? Why not the car dealers who sold him flash cars and made a fine profit from this tainted money?

Because flash cars don't open doors in Parliament and provide legitimacy by association. I thought we'd covered this.

In politics you are judged by the company you keep and Johnny Mercer is being judged by the company he keeps with the CEO of Surge Group.



Surge Group took £60 million from LCF investors in exchange for promoting the LCF Ponzi scheme.

Prior to the management buyout which occurred on Easter weekend, Johnny Mercer was paid £85,000 a year by Surge Group, of which Crucial Academy was a subsidiary.

That Crucial Academy is no longer a subsidiary does not alter any of these facts.

Nobody is picking on Neil Williams because nobody knows who he is. He's not an MP and as far as we know isn't paid £85,000 a year.

Malthusian

It will be interesting to see if Crucial Academy lasts on the strength of its non-Surge funding. Not only does it have to fund an MP's salary of £85,000 a year on top of its training courses, but now the cost of legal action against the BBC to boot. (And the entire mainstream news media who picked up the story.)

It would be funny if Neil Williams decides that Mercer's £350 an hour is no longer affordable now that funding from Surge has been withdrawn, and cuts him loose with a "thanks for your hard work". Mercer would have committed a colossal blunder - he would have passed up the opportunity to do the decent thing by immediately resigning (or, if he really is that committed to retraining vets, waiving his non-exec salary). And he would have lost the gig anyway.

Supercalafragalistic

GDB2222 wrote: »

So, why did you post the 'two degrees of separation ' nonsense?

I am sorry you seem to take exception to my posts, and consider them ‘nonsense’.
I was , in this instance, seeking to clarify the connections between the companies, which seem to be refuted.

redux

GDB2222 wrote: »

So, why did you post the 'two degrees of separation ' nonsense?

Given that the companies apparently still share (see notes * below) a registered office, and that a director of 2 Surge companies was also a director of 4 Crucial companies until his resignations on 9 April 2019, the number might have been slightly less than two until not long ago.

Crucial states there is no longer any connection between these companies.

* Presumably Mr Williams will soon diligently update Companies House about his companies' new address(es).

* Or perhaps Companies House already knows, but hasn't yet updated the website.

talexuser

Johnny Mercer is down as a guest on Have I Got News For You tomorrow, BBC1 9 pm. After this publicity it will be interesting to see if he turns up or becomes another tub of lard (cf Roy Hattersley).

Malthusian

talexuser wrote: »

Johnny Mercer is down as a guest on Have I Got News For You tomorrow, BBC1 9 pm. After this publicity it will be interesting to see if he turns up or becomes another tub of lard (cf Roy Hattersley).

I want to believe that'll be hilarious, but I suspect that either the lawyers will either designate LCF as a no-go area, given Crucial's supposed upcoming legal action, or Hislop will make a couple of digs at Mercer, Mercer will look stony-faced and that will be it, they will move on to Brexit and the great white lark occupying Waterloo Bridge and the rest of the night's entertainment.

All Mercer has to do is say "no ties" repeatedly in Trump fashion and any potential for comedy is quickly exhausted. And Hislop is the only one who has the nous to attack him on the subject. The two degrees of separation (collapsed Ponzi scheme gives a massive wad of cash to Surge, Surge gives a much smaller amount to Crucial, Crucial pays Mercer £85k a year) are enough to make a primetime TV audience wonder what they're banging on about.

GDB2222

Supercalafragalistic wrote: »

I am sorry you seem to take exception to my posts, and consider them ‘nonsense’.
I was , in this instance, seeking to clarify the connections between the companies, which seem to be refuted.

So, if it is not nonsense, what point are you making about the connection between Williams and LCF? Clearly, Captain Careless is going to spend or invest his money. Why pick on Williams?

The only reason that seems to have been given is that Williams employed a pal from his army days who happens to be an MP. Both of them clearly had nothing to do with the goings on at LCF, and it's grossly unfair for anyone to suggest otherwise.

Plus, it's not going to help the LCF investors get their money back.