London Capital and Finance

bxboards

jimjames wrote: »

I think the "no defaults" is also semantics and misleading. If I lend you £1000 at 10% interest for 5 years then you have absolutely no way of knowing until year 5 that the £100 interest I've been paying to you each year was actually the returning the capital of the loan back to you and I had no other money.

Agreed - I hinted at what I suspected was going back in August

https://forums.moneysavingexpert.com/showpost.php?p=74729317&postcount=32

I noticed any warnings that were too blatant used to vanish from the thread, so subtly was required.

Now we can all post what we think, its too late

jimjames

A tale of 4 companies and 1 saver who thinks they're getting a good rate.

https://damn-lies-and-statistics.blogspot.com/2019/01/a-tale-of-4-companies-mini-bonds-example.html

bxboards wrote: »

Now we can all post what we think, its too late

After deletions from here I'm trying to post any contentious issues elsewhere to avoid them being removed by MSE.

There is a whole load of info I'm gathering on the similar bonds being offered to the retail market that clearly shouldn't be. Things like this advert with tiny text in bottom corner:

https://damn-lies-and-statistics.blogspot.com/2019/01/top-isa-rates-misleading-fake.html

jimjames

bxboards wrote: »

Agreed - I hinted at what I suspected was going back in August

https://forums.moneysavingexpert.com/showpost.php?p=74729317&postcount=32(

Same here https://forums.moneysavingexpert.com/showpost.php?p=74727353&postcount=27 My comment about it being run prudently for investors benefit is a bit too close in hindsight

Alexland

These mini bonds even have a range of interest rates to simulate a market and trap every shade of greed and believability price point.

FCA have been asleep at the wheel too long as these have been blatantly marketed at unsophisticated retail savers via Facebook etc and now this is out of control.

Freezing LCF is too little , too late.

Alex

Sledger

I just listened to that BBC money box on LCF and by coincidence right next to it is {Text removed by MSE Forum Team}, the Jailed boss of collapsed tax planning firm Universal Wealth and is now Suffering from dementia and cant recall the whereabouts of the Millions which also has a forum posted on this site with jim james etc . I am feeling sick on the lack of control on these institutions , those in the loop escaping justice and the sentences handed out.
Fast {Text removed by MSE Forum Team} the host of the New years eve Swingers Party stabbing got 8 years for conning 4 million reduced to 3 on the basis of serious health issues but organises a swingers party and still owns that property and is racking in money which he should be forced to pay back to the people he conned . Where is the justice for his victims and why has he not undergone a proper medical to put back where he belongs. Not trying to deviate from this forum but just that if LCF are in that league its not very promising proper justice will be carried out.

Sledger

TO JELLI AND OTHER LCF VICTIMS if the need arises

I received this from FCA a couple days ago

Our guidance to you remains as detailed by my colleagues, ^^^^ and ***, in that you may find it useful to seek some legal guidance in regard to your investment with the firm in order to ascertain your rights and any options you have available to either protect or recover your funds.

I replied which has not yet had a response
" I am not sure what if any clout me appointing an independent lawyer would have to get money back other than them running me up a huge bill. Surely any funds recovered are going to be distributed evenly to the investors and those with lawyers should not be on the top pecking order. Have I got this wrong "

Look at the {Text removed by MSE Forum Team} forum on this site and BBC money Box where Solicitors were awash with victims calls .

If needed it would be far better for us to form a group rather than go individually and employ a top lawyer sharing the cost if there is any mileage in that but I think Buss Morton is out of the question. Any ideas from the Forum experts on how best to go about this or if its going to be just a waste of time and money. If FCA had unerthed anything untoward, I would have thought they would have involved a policing authority to plug any capital flight holes immediately so I cant understand them advising me to get legal guidance.

Alexland

Sledger wrote: »

you may find it useful to seek some legal guidance in regard to your investment with the firm in order to ascertain your rights and any options you have available to either protect or recover your funds.

Doesn't sound like FCA intend to get involved in the recovery of money then.

Alex

bail-in

For info on the FCA powers of enforcement visit:

https://www.fca.org.uk/about/enforcement

Enforcement Guide - FCA Handbook:

PDF https://www.handbook.fca.org.uk › EG_...

Jelli

Sledger wrote: »

TO JELLI AND OTHER LCF VICTIMS if the need arises

I received this from FCA a couple days ago

Our guidance to you remains as detailed by my colleagues, ^^^^ and ***, in that you may find it useful to seek some legal guidance in regard to your investment with the firm in order to ascertain your rights and any options you have available to either protect or recover your funds.

I replied which has not yet had a response
" I am not sure what if any clout me appointing an independent lawyer would have to get money back other than them running me up a huge bill. Surely any funds recovered are going to be distributed evenly to the investors and those with lawyers should not be on the top pecking order. Have I got this wrong "

Look at the {Text removed by MSE Forum Team} forum on this site and BBC money Box where Solicitors were awash with victims calls .

If needed it would be far better for us to form a group rather than go individually and employ a top lawyer sharing the cost if there is any mileage in that but I think Buss Morton is out of the question. Any ideas from the Forum experts on how best to go about this or if its going to be just a waste of time and money. If FCA had unerthed anything untoward, I would have thought they would have involved a policing authority to plug any capital flight holes immediately so I cant understand them advising me to get legal guidance.

The thing is due to medical issues and being housebound I can't really write and post letters, or use a phone. Even the internet strains my eyes so only use that for a few minutes at a time. The idea of getting into complex legalities is impossible for me.

I'm just hoping at some point LCF goes back to paying payments of principal on the maturity dates. I don't care about the interest any more.

bail-in

Wondering if any investors viewing the LCF threads have visited the office of LCF {Text removed by MSE Forum Team}. Also the office of Surge Financial Ltd. Perhaps the officers of Surge are more involved in the lending than they admit. On the bright side, the Surge premises in Brighton town centre are open. If so perhaps they would like to share experiences here in the daniel80 thread.