Blackmore Bond

Aretnap

Trustpilot ratings have taken a bit of a nosedive over the last few days I see...

https://uk.trustpilot.com/review/blackmorebonds.co.uk

Though one review said that they weren't paying interest and still gave them three stars so I guess there are a fair few glass half full type people out there.

londoninvestor

Aretnap wrote: »

Though one review said that they weren't paying interest and still gave them three stars so I guess there are a fair few glass half full type people out there.

"*** Defaulted, but those people on the phone in Brighton were very pleasant. Back when they used to answer the phones."

Alexland

Another reviewer was pleased to be getting a 'fair' rate of interest - while I feel sorry for anyone who may have now lost money in this scheme it was always insane.

masonic

Beware of turkeys voting for Christmas.

jaybeetoo

“Blackmore Bond insists it’s sound despite missing interest payments to investors” says The Times today.

One quoted investor (Andrea Hall, aged 54, a marketing consultant) also had money invested with London Capital & Finance and Lendy. She’s not having a good year!

Malthusian

A total of 29 one-star reviews now on Trustpilot, bringing Blackmore's rating down to three stars.

Blackmore claim that only 3% of investors are yet to receive their interest. If that's true, a very large proportion of them have left bad reviews on Trustpilot. (Some guessing involved here, but £35m invested divided by a typical £20k average investment = 1,750 investors, = c. 50 unpaid at the time of the Times article.)

Two and half months left to scrape together another £750,000...

sully1311

It appears that FCA stepped in to close investment to new customers but the story is behind paywalls on The Times and Law360

Aretnap

sully1311 wrote: »

It appears that FCA stepped in to close investment to new customers but the story is behind paywalls on The Times and Law360

Their website says "We have achieved our fundraising goals and are not currently taking new investment.

We will update the website with any new offerings, so watch this space for future announcements or if you would like to be updated directly please complete our Contact form."

Presumably no new money coming in = That's all folks.

Malthusian

Aretnap wrote: »

Their website says "We have achieved our fundraising goals and are not currently taking new investment.

We will update the website with any new offerings, so watch this space for future announcements or if you would like to be updated directly please complete our Contact form."

Presumably no new money coming in = That's all folks.

They are however taking in new money from outside the UK via their Blackmore International website.

How much they have actually managed to raise from Dubai and Asia is not yet clear.

The FCA has apparently decided to give Blackmore a chance to clean up all the s--- it dropped on its own doorstep, and dump it on another country's doorstep, by raising money from outside the UK to pay off Blackmore's currently mostly UK-based investors. If Blackmore succeeds (unlikely), then the misselling of its bonds will be a case of "no harm (in the UK), no foul (in the UK), not the UK referee's problem". A similar approach was taken to Park First, which of course failed miserably.

There is no other reason why Blackmore would be open to investment from outside the UK only.

badger09

Malthusian wrote: »

They are however taking in new money from outside the UK via their Blackmore International website.

How much they have actually managed to raise from Dubai and Asia is not yet clear.

The FCA has apparently decided to give Blackmore a chance to clean up all the s--- it dropped on its own doorstep, and dump it on another country's doorstep, by raising money from outside the UK to pay off Blackmore's currently mostly UK-based investors. If Blackmore succeeds (unlikely), then the misselling of its bonds will be a case of "no harm (in the UK), no foul (in the UK), not the UK referee's problem". A similar approach was taken to Park First, which of course failed miserably.

There is no other reason why Blackmore would be open to investment from outside the UK only.

Is it this one?

https://blackmoreinternational.com/index.php

Many similar 'opportunities' are currently being targeted @ expats in HK:(