London Capital and Finance

Malthusian

If LCF have been lending out money to living breathing SMEs at 12% for three years, and not had a single default in that time as they claim, then I will buy myself a plane ticket to the United States out of my own money and give Bernard Madoff a rimjob on a live YouTube feed.

The FCA are in the building and they're still going with this "we lend money to people who can't get a better rate than 12% and we've never had a single default". FML.

Malthusian

dont_use_vistaprint wrote: »

The info your are after is all public, just buy the reports from companies house. If you speak to them nicely they send you copies for free. Are you SME stats relevant when LCF primarily loan to mid sized companies not SME's ?

Which mid sized companies? Name three.

Mid sized companies are SMEs. That's what the M stands for. It doesn't stand for "mystical" or "mirage".

bail-in

Re dont_use_vistaprint post above. So, from Companies House how would you, without LCF corporate borrower names, go about getting a list of registered charges on the secured lending for each of the companies LCF has provided secured business loans? It is only recently that LCF changed lending from smes to larger sized companies according to LCF contact.

Sledger

When you go to companies house LCF CEO M.A.T recent Company 11489969 has 2 names and links I.E.S . who has 24 appointments and is the only active member of GLOBAL ADVANCE DISTRIBUTIONS LIMITED Company number 08820833 where 9 have resigned including LCF M.A.T and other Directors and appears to be founded by Buss Morton the LCF lawyers. Company 08820833 had the Current accounting period shortened on 22 June 2015 and 10 Sept 2015 for a mere 2 pound where accounts were submitted 1 &11 sept 2015, then the accounts show a staggering 11.15 Million on 11&12 January 2016 but no clear explanation of where these funds originated or went on the annual return. 15 April 2016 still shows the annual return of 11.15 Million but shows on the same day Total exemption small company accounts made up to 30 April 2015 with 2 pound . Then endless (12) previous and current account period shortened until 6 June 2017 when its First Gazette notice for compulsory strike-off which is suspended 2 days later. 25 Sept 2017 Current accounting period shortened from 5 October 2017 to 30 September 2017 followed by a company name change on 9 Nov 2017. Can somebody with any understanding delve into 08820833 and cast light on the activity and clarify what is going on as it looks very irregular.

Sledger

I note that LCF Trustee solicitor SRM resigned as Director of GST but has over 40 companies listed on Companies House and is current on 09324527, 09782884, 09449150,09184596,10741046, 10741046,08422800 which have links to current and former LCF directors but most have resigned and some were formed by the LCF CEO M.A.T.

LCF CEO M.A.T has over 40 companies listed some dissolved or resigned from . the most recent ones formed this year have negligible token funds, 11432885, 11429942, 11430109,11098456,11041447, 11489969 plus I.E.S,10873084 plus wife are in his sole name but use the accountants 14 David Mews address. Can anybody throw any logic as to the purpose of forming these recent companies bearing in mind what my previous posting above .

bail-in

Sledger, there is a long standing relationship between Buss Murton Law and the directors of some of the companies including the directors of LCF. Buss Murton bankroll some of the projects, like the Cornwall holiday homes, and some of the companies and their directors work through BML's own finance companies. It is a common practice for legal firms to provide paid solicitors to act often in name only as company directors. {Text removed by MSE Forum Team}, managing partner and solicitor at BML, replaced {Text removed by MSE Forum Team} as director of Global Security Trustees (see post below), the legally required security trustee for LCF.

bail-in

Sledger, in Feb 2017 the now resigned former trustee director for LCF security trust (GST), solicitor {Text removed by MSE Forum Team}, who you mentioned above in your corporate list, currently retired managing partner of Buss Murton Law, and who has shared past directorships with LCF CEO {Text removed by MSE Forum Team}, was suspended for one year by the SRT. The reason was for negligent (not fraudulent) involvement in holding in BML accounts monies related to a past dubious CIS (collective investment scheme) trading in carbon credits which had resulted in loss of investor monies. However, at that time carbon credits were considered to be a legitimate investment. Later it was determined they were not as dubious sellers came into the market. It should be noted that Mr {Text removed by MSE Forum Team} had an unblemished prior record and there is no evidence that {Text removed by MSE Forum Team} has been negligent nor fraudulent in his directorship association with Mr {Text removed by MSE Forum Team} or otherwise in the past.

jimjames

If you're wondering where your money invested in LCF might have gone then they appear to have been very generous with sponsorship of various horse racing events and riders. Their "impressive hospitality area"

https://www.facebook.com/179798712060026/photos/pcb.1989510151088864/1989499347756611/?type=3&theater
and the London Capital & Finance Horse trials with £60k prizes

https://www.an-eventful-life.com.au/ukeurope/other-international-events/london-capital-and-finance-osborne-horse-trials

{Text removed by MSE Forum Team}, Director of London Capital & Finance, title sponsor of the inaugural event, is enthusiastic about the opportunities available to investors. “Horse trials sponsorship is an exciting new venture for us. English Heritage has generously offered access to private parts of the house for corporate entertainment which provides us with a unique setting to host our clients and develop business relationships in a way not normally possible. It should be a spectacular two days of top class sport.”

Sledger

Thanks Bail in and not that electronic savy to copy past the filing summary but if you have the time take a look at the filing history of 08820833 as my post 355 is a riddle to me with repeated delay tactics of shortening the account period (As LCF have done ).I have typed below part of the filing history where there are so many entries shortening the accounting period


21 Nov 2018 Appointment of Mr {Text removed by MSE Forum Team} as a director on 19 November 2018
18 Sept 2018 First Gazette notice for voluntary strike-off
6 sept 2108 Application to strike the company off the register
18 April 2018 Statement of capital on 18 April 2018 GBP 2
15 April 2016 Total exemption small company accounts made up to 30 April 2015

15/4/ 2016 Annual return made up to 5/4/16 Statement of capital on 2016-04-15 GBP 11,149,954

3 Feb 2016 Total exemption small company accounts made up to 31 March 2015 shows 2GBP
12 Jan 2016 Annual return made up to 6 January 2016 Statement of capital on 2016-01-12 GBP 11,149,954
11 Jan 2016 Annual return made up to 30 Sept 2015 Statement of capital on 2016-01-11 GBP 11,149,954
11 Sept 2015 Accounts for a dormant company made up to 31 August 2014 shows GBP 2
1 Sept 2015 Annual return made up to 1 September 2015 Statement of capital on 2015-09-01 GBP 2
22 June 2015 accounts for a dormant company made up to 31 March 2014 shows GBP 2
19 June 2015 accounts for a dormant company made up to 31 March 2013 shows GBP 2
11 March 2015 Annual return made up to 19 Dec 2104 Statement of capital on 2015-03-11 GBP 2
19 Dec 2013 Incorporation Statement of capital on 2013-12-19 GBP 2


Q1 Why keep registering the Current accounting period shortened for only 2 pound of assets.
Q2. why file historic accounts before the 11.15 million appeared. ie 15 April 2016, 3 Feb 2016.
Q3. Any Idea where this 11.15 million originates as no record in the filing record other than 2 ordinary shares and 11149952 listed to " London Group limited" There is a company of this name 05499021 but it was dissolved on 2 Aug 2013 so that's not it London Group LLP OC416429 - Incorporated on 17 March 2017 has a familiar address linked to LCF {Text removed by MSE Forum Team}, as does the other London Group LLP OC419624 which appear to be intertwined. So what happened to this London Group limited Company along with its 11.15 million shares last listed 15 April 2016.
Q4. Why would {Text removed by MSE Forum Team} want to register with a company with no assets and all his mates have jumped ship.

Jelli

I hope everything goes well as I invested 61k.

The placeholder page still says the same assurances such as no defaults and security is still in place.