London Capital and Finance

Malthusian

bail-in wrote: »

{Text removed by MSE Forum Team} of Surge Group states that the group companies have earned 50 million pounds since 2015 but the Surge Group Plc and Surge Financial Ltd do not appear to have any accounts lodged at Companies House. Any explanations?

Surge Group plc is too new. Its first ever accounts are due to be filed in less than a week.

Surge Financial Ltd is up to date with its accounts. Not sure why you couldn't see them.

Surge Financial is dealing with finance with the investment monies re LCF. I would have thought they would have needed FCA permissions

Running a call centre isn't a regulated activity. If you think Surge Financial has carried out any regulated activities you'll need to be more specific.

bail-in

From LinkedIn profiles:

{Text removed by MSE Forum Team}
Surge Investments
Founder/CEO
Company Name Surge Investments
Dates Employed Jan 2015 – Present
Employment Duration 4 yrs 1 mo
Location London, United Kingdom

{Text removed by MSE Forum Team} (director, Surge Financial Ltd), changed name to {Text removed by MSE Forum Team}
COO
Company Name Surge Investments Hedge Fund
Dates Employed Nov 2014 – Present
Employment Duration 4 yrs 3 mos
Location London, United Kingdom
Fund Management, predominently for retail and high net worth investors
Also a director of ceased company Askyourdoctor. {Text removed by MSE Forum Team}, CEO LCF had a similar company name, recently ceased.

LCF has investment permissions including options. Perhaps LCF capital gets invested in this international hedge fund? A hedge fund is an offshore investment fund, typically formed as a private limited partnership, that engages in speculation using credit or borrowed capital. Wikipedia describes a hedge fund as an investment fund that pools capital from accredited individuals or institutional investors and invests in a variety of assets, often with complex portfolio-construction and risk-management techniques. A simple hedge fund definition is: a hedge fund is an alternative investment that is designed to protect investment portfolios from market uncertainty, while generating positive returns in both up and down markets. Throughout time investors have looked for ways to maximize profits while minimizing risk. The last few months have seen dismal returns for stockmarket funds across the board.

As Surge Financial Ltd, Brighton is administering the LCEF bond from the Brighton Office,, the company officers and staff should know what is happening. I cannot find a phone number. Of course if you call LCF, they will be at the end of the line. Local LCF investors may wish to visit the Brighton Office of Surge Financial Ltd and speak with {Text removed by MSE Forum Team} or {Text removed by MSE Forum Team}.

Malthusian

{Text removed by MSE Forum Team} is now {Text removed by MSE Forum Team} according to a recent Companies House filing. Her title is still listed as {Text removed by MSE Forum Team}, which combiend with the change of middle name suggests that this was a deed poll change and not marriage.

Running a hedge fund most definitely is a regulated activity. However, while there is a "Surge Investments Limited" in the UK, it doesn't appear to be related to Surge Financial - the directors and address are completely different. There are a number of other companies called Surge Investments around the world but again, no obvious connection. (I haven't been through all the foreign registry entries for the other Surge Investments.) It's not an uncommon name. The website for Surge Group plc does not list any hedge fund or Surge Investments as part of the conglomerate (only Surge Financial which does technology / back-office work for the likes of LCF and is not an investment provider itself).

The most obvious conclusion is that there is no such hedge fund and the LinkedIn profiles are in error. Or bigging themselves up. The alternative explanation - that {Text removed by MSE Forum Team} and {Text removed by MSE Forum Team} have been running an illegal hedge fund in secret with no website or public presence yet {Text removed by MSE Forum Team} referred to it on their LinkedIn profiles - fails per Occam's Razor without further evidence.

bxboards

I was trying to hint at what I thought was going on a while back...
https://forums.moneysavingexpert.com/showpost.php?p=74729317&postcount=32

Seemed often very blatant warnings seemed to vanish.

Being a bit less subtle now, I doubt the money was ever loaned out, and the 8% was just being paid back from the initial 'investment'

bail-in

BLACKMORE BOND – SHAKEN OR STIRRED – {Text removed by MSE Forum Team} OR STUPID?
Bond Review raises an intriguing question: how come {Text removed by MSE Forum Team} and Surge Group have got involved with {Text removed by MSE Forum Team} and {Text removed by MSE Forum Team}? Unless he has been {Text removed by MSE Forum Team} looks to have an unblemished past and Surge (in Brighton) looks to be a bona fide company.

In 2017, {Text removed by MSE Forum Team}’ company Surge Group offered £3,000 in sponsorship to the Kent Police rugby team. This was accepted, but then he tried to change the sponsor from Surge Group to Blackmore Bond. And Blackmore Global started claiming on their website to be “Proud supporters of Kent Police Rugby Team”. So why would {Text removed by MSE Forum Team} – {Text removed by MSE Forum Team}– {Text removed by MSE Forum Team}get into bed with {Text removed by MSE Forum Team} and {Text removed by MSE Forum Team}?
Let us just remind ourselves that Messrs {Text removed by MSE Forum Team} and {Text removed by MSE Forum Team} were the cold callers/lead generators in the Capita Oak and Henley Retirement Benefits scams which are now under investigation by the Serious Fraud Office. {Text removed by MSE Forum Team} and {Text removed by MSE Forum Team} {Text removed by MSE Forum Team}up to 300 victims a month for more than two years. Unsurprisingly, Kent Police declined the toxic offer to have any association between a law-enforcement agency and known {Text removed by MSE Forum Team}.

bail-in

Coincidental, the common thread of rugby connecting the founders of LCF, RP Digital (Best Savings Rates), and Surge Group.

robatwork

bail-in wrote: »

Coincidental, the common thread of rugby connecting the founders of LCF, RP Digital (Best Savings Rates), and Surge Group.

You may be posting as the very model of equanimity now, but most of us still remember what happened when you started out on this thread around page 5 with two of the biggest forum posts I've ever seen here. What changed your mind?

Reaper

robatwork wrote: »

You may be posting as the very model of equanimity now, but most of us still remember what happened when you started out on this thread around page 5 with two of the biggest forum posts I've ever seen here. What changed your mind?

I think it is a common misconception on the forum that bail-in was defending them. Actually he was attempting to be even handed and leaning towards critical. Unfortunately that point got rather lost in the vast maze of hard to read text which served to obscure the key points.

bail-in

Thanks, Reaper for coming to my defence. However, I have been frustrated with the officers of LCF with their lack of response and cooperation the last year or so which has not been in their favour and interest from my point of view. And now the FCA is in the building...

Trevg2004

Do not touch them.
They are under investigation by the FCA since 18th December.
All assets & bank accounts frozen including my investment.