Shenton Asset Backed Fund

PotentialEnergy

Just to alert you that the Shenton Bond has re-appeared in The Daily Telegraph today and London Property Bond appeared last weekend.

https: //www.shentonbonds.com/our-partners/

This time, the Partners are numerous but include ShakespeareMartineau as Legal Adviser. It seems this limited liability partnership(LLP) was set up in December 2015.
This Url links a Julian Alister Turnbull as an officer of Macrae Secretaries
https: //beta.companieshouse.gov.uk/officers/IGJfx-KhSYHY2SN-18FlvCHTUio/appointments
This Url shows many companies Julian Alister Turnbull is an officer of
https: //companycheck.co.uk/director/914120379/JULIAN-ALISTER-TURNBULL/companies

This link shows companies for which Macrae Secretaries is an officer.
https: //beta.companieshouse.gov.uk/officers/u2XfBpsEPhZHooccvWzezG3Od9I/appointments

These include Secured Energy Bonds and Providence Bonds. Both are in administration and investors have probably lost over £15million a sizeable slice of which went to firms like IPM. According to an article published in the Financial Times, 20% of the money raised for Secured Energy Bonds disappeared in upfront costs. Juicy commission for some.

If you see London Property Minibonds I suggest you ignore/bin the invitation too.
https: //beta.companieshouse.gov.uk/company/08264794
STOA FINANCIAL LIMITED (08264794)
Correspondence address
Shakespeare Martineau Llp, One America Square, Crosswall, London, England, EC3N 2SG
https: //beta.companieshouse.gov.uk/company/08264794/officers
Stoa Financial has 2 officers, one is Macrae Secretaries. The other is Christopher John Day who is also a director of IPM who sold the Secured Energy Bonds and Providence Bonds.

All the above are facts courtesy of companies house. You draw your own conclusion whether you feel the due diligence to be expected by someone 'FCA authorised' will have been done on Shenton/London Property in light of previous minibonds.
You do your OWN homework

AnotherJoe

Thanks for the heads up. Unfortunately I fear the most times it will be accessed is by some mug in a couple of years time when all their money has disappeared and they are googling to find where it went.

PotentialEnergy

It has come to light that IPM made a concession to the FCA that they would no longer approve any minibond prospectuses. What we can bet is by that time AJ Turnbull had set up Shakespeare Martineau[Dec 15] and Christopher Day[Director of IPM] had set up Stoa Financial[Apr 16 by renaming Solone limited] which is part of the web of companies handling the London Property Bond launch.

So, the same people involved in selling Secured Energy Bonds and Providence Bonds - both of which are probably going to lose the Minibond holders most of their capital - are involved in the process of selling/administering London Property Bonds and Shenton Bonds. In the SEB case, the Australian executive of CBD Energy transferred(stole) well over £4million from the so-called Secured fund.
Beware is the word:exclamati

bigfreddiel

Anything that says the return is 8% guaranteed is to be wary of.

Even 5% should be approached with caution.

Cheers fj

garycardinal

Some information for you:

- there's one direct employee of Shenton based permanently in the UK and he's only been with the company for a few months
- the managing director is holding back on refunds, clearly hoping that the above mentioned employee will convince them to change their mind - appalling customer service, if you ask me
- there seems to be only one person running their 'helpdesk', albeit a very competent lady who also seems to have been with the company for only a few months
- they haven't even raised 1 million from this one
- the managing director for Shenton is the 'former' sales director for the Brazil-based property developer they'll be invested in - coincidence?
- there is something dodgy going on with the addresses, here - Gracechurch Street is listed on Companies House, but their forms need to be sent to an address on Queen Anne Street

Avoid at all costs. Just avoid.

jimjames

martinsmall wrote: »

The company is a scam what surprises mean is that that they are still able to issue bonds when they haven't returned the capital from matured bonds where is the financial regulator in all this

You do realise that unregulated investments can involve 100% loss of capital as posted back in post #2. It's unregulated so the financial regulator has no part in the process.

You may want to involve Action Fraud if you believe that a crime has been committed.

dunstonh wrote: »

100% loss potential with no FSCS protection. Illiquid. High risk. Whilst the money is secured against property, that is no guarantee of loss not occuring. Just ask any failed property "tycoon".

The yield tends to reflect the risk (crude but generally reliable guide). With base rates so low, why do they need to set the yield at 9% to attract money?

Malthusian

jimjames wrote: »

You do realise that unregulated investments can involve 100% loss of capital as posted back in post #2.

But the OP is quite correct to be concerned that Shenton International has defaulted on repayment when the company is supposedly not just still operating but soliciting new investment.

Action Fraud is the wrong place. There is no reason to think fraud has been committed, yet. Martin needs to see a reputable solicitor immediately, who can call in the liquidators if necessary.