Concept Capital Group - Shut Down by FCA

jimjames

This is one that was reported on MSE some time ago but sadly once again it appears that the thread warning members about it was locked and removed from view as it's showing no permission to view now (unless anyone else can see it?)  https://forums.moneysavingexpert.com/discussion/6560653/concept-capital-group-concerns-with-buy-back

FCA have started High Court action. The FCA claims that CCG promoted investments in static homes, which were said to be let to social housing tenants placed by local councils. Investors were promised fixed returns and told the scheme was backed by the UK Government, claims the FCA considers were false or misleading.

More info here:

https://www.fca.org.uk/news/press-releases/fca-acts-alleged-23-million-unauthorised-collective-investment-scheme

Reported elsewhere back in 2021, it's a shame the warnings on here couldn't remain but lawyers seem very successful in getting content removed. Hopefully the same outcome won't affect other ones reported more recently.
https://damn-lies-and-statistics.blogspot.com/2021/01/concept-capital-group-scam-review.html

QrizB

jimjames said:

This is one that was reported on MSE some time ago but sadly once again it appears that the thread warning members about it was locked and removed from view as it's showing no permission to view now (unless anyone else can see it?)  https://forums.moneysavingexpert.com/discussion/6560653/concept-capital-group-concerns-with-buy-back

Having administered forums myself in the past (although never one as popular as MSE) I suspect that thread has been moved to an area where regular members can't access.

With CCG now being under investigation, and unlikely to afford solicitors to write threatening letters, MSE might be able to make it accessible again?

Edit to add:

It's interesting that they were still getting five-star Trustpilot reviews as recently as May this year:

https://uk.trustpilot.com/review/concept-capital-group.com

masonic

QrizB said:

jimjames said:

This is one that was reported on MSE some time ago but sadly once again it appears that the thread warning members about it was locked and removed from view as it's showing no permission to view now (unless anyone else can see it?)  https://forums.moneysavingexpert.com/discussion/6560653/concept-capital-group-concerns-with-buy-back

Having administered forums myself in the past (although never one as popular as MSE) I suspect that thread has been moved to an area where regular members can't access.

With CCG now being under investigation, and unlikely to afford solicitors to write threatening letters, MSE might be able to make it accessible again?

The "permission problem" response when trying to view the page gives the game away as to the status of the thread. The legal process is painfully slow and at present the website is still live and perhaps still pulling in money. All they need is someone sending credible looking emails to trigger MSE's processes. Better that they err on the side of caution than expend resources investigating whether any legal threat is genuine. So it probably behoves them to keep it private.

LHW99

It's interesting that they were still getting five-star Trustpilot reviews as recently as May this year:

Unfortunately it's difficult to be sure that reviews on any site are made by genuine users of the product or service. IMO most reviews need to be treated with due circumspection, rather as you (sh)would the comments of the social media influencers.

masonic

Even if you were to assume all of the reviews were genuine, those using the services will obviously be very happy with numbers going up on a screen. It will only be much later that they find the numbers on the screen are meaningless. A couple of previous positive reviews have recently been edited down to 1 star, I expect plenty more will go this way as people realise what has been happening. I only see one example where the reviewer claimed to successfully get their money out.