Wellesley - Suspended interest payments and capital return.

unkle

Oh dear, a lot of people will be loosing an awful lot of money, very sad, hopefully they get something back in the pound.

dunstonh

Johnny_Doe said:

I'm absolutely gutted beyond words, lost a substantial amount of money Truly awful day...

In the scheme of things though it is the sort of area where you don't exceed 5% of your investments and savings.  So, shouldn't be that damaging unless you went far too heavy into it.

Albermarle

dunstonh said:

Johnny_Doe said:

I'm absolutely gutted beyond words, lost a substantial amount of money Truly awful day...

In the scheme of things though it is the sort of area where you don't exceed 5% of your investments and savings.  So, shouldn't be that damaging unless you went far too heavy into it.

Maximum 5% and that 5% spread across at least three or four different sites.
If I remember correctly Wellesley were struggling even before Corona virus .

unkle

Why has Johnny_Doe's post disappeared?

dunstonh

unkle said:

Why has Johnny_Doe's post disappeared?

I suppose only he can answer that.  However, as it didn't mention WASPI, we can assume that the board hasn't removed the post to avoid discussion and banned people.

66chorisia

Strange the lack of comment by Martin Lewis about this scandalous slight of hand attempt by those who run Wellesely to threaten those with money in wellesely with the consequences of not agreeing to their devious offer. I voted no, better to trust an administrator than Wellesley management buying their own failed company back by themselves at a huge discount.

jamei305

66chorisia said:

Strange the lack of comment by Martin Lewis about this scandalous slight of hand attempt by those who run Wellesely to threaten those with money in wellesely with the consequences of not agreeing to their devious offer. I voted no, better to trust an administrator than Wellesley management buying their own failed company back by themselves at a huge discount.

Martin doesn't cover investments, especially not schemes such as this.

doe808

66chorisia said:

Strange the lack of comment by Martin Lewis about this scandalous slight of hand attempt by those who run Wellesely to threaten those with money in wellesely with the consequences of not agreeing to their devious offer. I voted no, better to trust an administrator than Wellesley management buying their own failed company back by themselves at a huge discount.

Why would martin cover high risk schemes such as this? Presume you are an experienced investor to have been involved and you would have known the risks. A circa 5% loss may hurt, but these things happen with risky investments.

dunstonh

Strange the lack of comment by Martin Lewis

Why would he comment?   His track record many many years ago was poor on investments and he got pulled up on it.   Since then he has largely avoided investments which is very sensible as it is not something that fits well in short articles or 30 second segments on tv.

He certainly would not get involved with high risk investments with a reputation for being like the wild west.