London Capital and Finance

Botheredin

{text removed by MSE Forum Team}

The first part of the question is open to interpretation from the FCA, City of London Police, NCA and CPS.

The second part of the question is probably because of funding restrictions, lack of communication between agencies, general disorganisation and a level of sophistication in the bond schemes along with all of the governing bodies playing cards very close for a variety of reasons.

The third part... How do we know FCA are not aware?

londoninvestor

Alexland wrote: »

There are enough people going to lose from these dubious mini bonds that an increasing number of people must be asking why we have a regulator who only wants to get involved in the less scammy aspects of financial services. Surely there should be regulation of all financial services with a lighter touch on those that present less risk?

Alex

Or at least, make a "general anti-regulation-avoidance rule" whereby allowing your product to be marketed to the general public - including Facebook ads, including verifying investors' "sophisticated" status using a similar yardstick to a First World War recruiter verifying the age of recruits - automatically brings the product into the scope of regulation...

londoninvestor

Reaper wrote: »

"Bonds" is a word I hate. It has a specific meaning for investments but sadly it has been so misused by banks for fixed term savings accounts it no longer rings alarm bells for unsophisticated investors.

Agreed...although banks could probably say the government started the misuse of the term. "Premium Bonds" for a start!

jimjames

Botheredin wrote: »

Would some of these be:

Your money got spent on...
- 3 Helicopters - {Edited by Forum Team} Augusta 109, {Edited by Forum Team} Eurocopter
- A Gulfstream G650 Private Jet - {Edited by Forum Team}
- Cars : Rolls Royce, White Porsche, White Range Rover Sport, Black Lamborghini, Black Range Rover, Grey Porsche Panamera etc- {Edited by Forum Team} Ferrari GT4 Lusso, 90 SG Audi R8, {Edited by Forum Team} black Range Rover

I only ask as the poster called out money may have been spent where it should not have been and these assets appear on open searches.

If anyone is in doubt as to some of the information provided in the post, you can see the Ferrari in the photos on the Surge Financial social media feed. It was quite an extravagant office culture by the looks of it.



https://damn-lies-and-statistics.blogspot.com/2019/02/surge-financial-lcf-blackmore.html

Surge Fest looked like a fantastic day out, what a way to spend other people's money

System

Botheredin wrote: »

You can also go here and search {Edited by Forum Team} and {Edited by Forum Team}.Be sure to check the ownership history:

https://siteapps.caa.co.uk/g-info/

Thanks for your earlier reply to my questions.

Out of interest, From one of your previous posts are you suggesting that because the assetts are a matter of public record then all is okay? Or are you saying that the other chap shouldnt have referenced these assetts?
Thanks

Botheredin

Poorlyone wrote: »

Thanks for your earlier reply to my questions.

Out of interest, From one of your previous posts are you suggesting that because the assetts are a matter of public record then all is okay? Or are you saying that the other chap shouldnt have referenced these assetts?
Thanks

Nope, just saying info is freely available and posted by the persons mentioned. Not necessarily saying they've committed crime or anything else. Their info is there, the other poster clearly has much stronger view that may or may not be better informed.

Plus

The alleged reg for the Gulfstream jet is incorrect - searching it in the N registry says it's a Pilatus PC-12 turboprop, which is for hire in Aspen, Colorado. Where indeed it flew on Tuesday.

masonic

I think it's important not to conflate the legality or illegality of the investment scheme with the potential that bondholders will recover any or all of their capital.

Here is one person's recently posted experience dealing with a fully FCA authorised P2P lending firm:

fun4everyone wrote: »

I have had a 97.5% capital loss on a property loan on Funding Secure. That's after the site got sold. "Current value, £800,000" was what the loan said. I think they distributed roughly £12,500 to investors after the sale.

System

Thats true Masonic. Whilst recovering money is primary in most peoples minds though, i think there may be an element of thinking that if youre not going to get your money back anyway, at least you would like to see justice being done.

{text removed by MSE Forum Team} post was really interesting, he really seemed to know what was going off. I read it as the introducers being paid out of our investment sums first, before lc&f even got the remainder...whereas other people seem to refute that.

I wonder to myself if the advertising and the bit where you had to tick to say you are a sophisticated investor , was designed to trick people,( who themselves might then be labelled dishonest for doing so) and knowing that some people would, it was included on purpose.

A bit like the programme the hustle where theey say you cant trick an honest man?

Jelli

People didn't have to tick to say they were a sophisticated investor. I like a lot of people declared ourselves as 'restricted investor' because we weren't high net worth OR sophisticated.