London Capital and Finance

jimjames

billyolly wrote: »

Is there any point or need to join either LCF of the Facebook groups ?

If you are a bondholder that is looking for advice and feedback on the situation and the way forward then yes. The one to look for is the Action Group which has a lawyer on board who has previously worked to recover money from other failed bonds

https://www.facebook.com/groups/londoncapitalfinanceaction/

There is another group but it's given the impression of being closely associated with LCF. Posts are being deleted and anyone questioning the company line is being blocked from the group.

System

Just as an aside, I have just seen a programme that discusses corporate psycopaths, v interesting and certainly chimes with the operation of lc&f et al. Its called “meet the psycopaths” and discusses fred the shred .

Realistic

London and Capital are late filing last year’s accounts which isn’t great. Also two of the ultimate borrowers via London Oil and Gas are high risk Oil and Gas exploration entities. One Independent Oil and Gas has been lent £38 million ultimately by London and Capital and it’s liabilities exceed its assets by over £7 million. So I suspect some losses will be suffered by bond holders.

Sledger

If its a Ponzi scheme some of the individual don't appear on the surface to be that way inclined approaching retirement and have too much to loose and well connected in society or maybe I am wish full thinking that it will be alright on the night . I cant find {text removed by MSE Forum Team} though

https://www.bloomberg.com/research/stocks/private/person.asp?personId=8678577&privcapId=62697821

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NOTE THE 23 MILLION IN THIS ONE {text removed by MSE Forum Team}

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I have {text removed by MSE Forum Team} LCF business Card and this picture is him and the guy I met and had a long chat before investing {text removed by MSE Forum Team}

masonic

Sledger wrote: »

If its a Ponzi scheme some of the individual don't appear on the surface to be that way inclined approaching retirement and have too much to loose and well connected in society or maybe I am wish full thinking that it will be alright on the night . I cant find {text removed by MSE Forum Team} though

I think they believe they are very clever individuals. Clever enough to get away with misleading promotions and advertising. Why not clever enough to find a pseudo-legitimate way to funnel a stream of investor money through a series of loans to wind up lining their own pockets and those of their friends?

System

I wonder if the people selling these bonds will get into trouble in the end if there is proof of wrong doing? I wonder if assetts would be seized from them like they do with proceeds of crime.

masonic

Poorlyone wrote: »

I wonder if the people selling these bonds will get into trouble in the end if there is proof of wrong doing? I wonder if assetts would be seized from them like they do with proceeds of crime.

A court could find the directors personally liable to repay investors if it can be shown that the directors did not manage the companies in the interests of creditors. However, this could be of limited use if the directors have already disposed of their personal assets, transferred them to spouses etc. It is unlikely based on what is known at this stage that the activities would be considered criminal, though this is also possible.

Malthusian

Would you buy a used car from this man? {URL removed by Forum Team}

Sledger wrote: »

If its a Ponzi scheme some of the individual don't appear on the surface to be that way inclined approaching retirement and have too much to loose and well connected in society

That is exactly the kind of person you want to front a scheme like this.

In the aftermath of the collapse of an unregulated scheme, people often ask "Why would a respectable professional with an unblemished career front a scheme like this?" They are looking through the wrong end of the telescope. Why would you ask an unqualified 30- or 40-year-old with a dubious past to front your scheme? There would be no point, they wouldn't inspire any confidence.

When you are looking for front-of-house directors, the ideal candidate is a long-time professional who is either a) recently divorced and looking to rebuild their finances or b) is approaching retirement and looking for one last payday (perhaps having failed to make adequate provision to keep themselves in the lifestyle to which they are accustomed).

You say they have too much to lose - in reality they have almost nothing to lose. Their professional reputation is a wasting asset which has come to the end of its life. Forget about criminal charges and clawbacks, it isn't a crime to run a failed investment and misselling is a regulatory breach, not a criminal offence.

jimjames

Poorlyone wrote: »

I wonder if the people selling these bonds will get into trouble in the end if there is proof of wrong doing? I wonder if assetts would be seized from them like they do with proceeds of crime.

I think there is a bit of misunderstanding about what potentially might have gone on and the legality of it. The more I look into it the more I am amazed how easy and legally it is possible to extract money from people. Rob a bank and you'll get prison when caught.

Run an investment scheme, take money from investors then loan money to businesses (that coincidentally happen to be run by your mates) that find they are unable to pay it back as their business hasn't gone as expected. A failed business isn't a crime and it's very hard to prove it was a scam.

Net outcome is that investors in high risk unregulated bonds have very little protection especially when the activities could have the semblance of a genuine operation.

It's said that some of the people behind LCF appear to have come into serious money in the last couple of years. I wonder how...

System

Its a strange thing. The people selling these are running some good , worthy companies too , and seem to mix with the great and the good, war heroes, mp”s and all that sort of thing. Apparently they sponser good causes as well. Makes you womder .