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Published 2032 days ago
MPs and the FCA seem happy that London & Capital Finance, which we have done so much to expose, is a one off fraud. Of course it is not, it is part of a much larger mini-bond scandal. Hundreds of thousands of vulnerable savers will face ruin and our leaders and regulators are asleep at the wheel. In fact LCF is one of a number of such schemes to go pop. The next big one to topple will, be….
Published 2277 days ago
Like London and Capital Finance (LCF) which has now collapsed into administration and is under FCA investigation, Blackmore Bond Plc also offers high yield bonds. It is currently offering 3 Year loans offering 7.9% every year with interest paid quarterly and 5 year bonds offering 9.9% every year paid quarterly. LCF’s 14,000 bondholders now face an almost certain capital loss on their “safe” investments
Published 2009 days ago
The FCA and our elected leaders at Westminster continue to pretend that the London & Capital Finance mini-bond scandal is a one off and not the tip of a vast mini-bond iceberg. Readers of this website know otherwise and we have flagged up a number of times that Blackmore Bond is likely to be the next scheme to topple. Here is more damning evidence for the regulator to ignore.
Published 2078 days ago
In early 2019, I wrote a series of articles on what has become a widely known minibond scandal. On 6 January 2019, I flagged up a swathe of red flags at London and Capital Finance Plc (“LCF”) (now in administration). On 3 February 2019, I asked whether Blackmore Bond Plc was another minibond disaster in the making? Well it looks increasingly like that was yet another incredibly prescient call, the latest warnings signs are:
Published 1986 days ago
Blackmore Bond which is delaying interest payments to clients, highlighted in its bond prospectus the insurance policy it had arranged to protect investors should the company itself get into financial difficulty. So this is low risk tight? Just like the other mini bonds?
Published 2131 days ago
Dim-witted MPs and poltroons of the deadwood press seem to think that the London & Capital Finance is a one-off. Sure the level of theft by Amber Rudd’s pal Simon Hume Kendall was obscene but as we have flagged up many times there are stacks of other LCF type mini bond scandals waiting to emerge. I highlighted back in February 2019, a number of similarities between Blackmore Bond PLC and, now, insolvent London Capital and Finance Plc.
Published 1831 days ago
In early 2019, I wrote a series of articles highlighting significant concerns over four mini bond lenders. As the table below shows, as of this week 3 of the 4 are now in administration. Predictably, Blackmore Bond has bitten the dust. That makes c£320 million ponied up by, generally vulnerable, savers seeking low risk investments up in smoke. So what is the useless FCA doing to ensure there are no more blowups. this will horrify you.
Published 1416 days ago
I first wrote about the High Street Group 426 days ago. It was the sixth mini bond scheme I had written about. Of the first five, four being London and Capital Finance, Blackmore Bond, Bassett & Gold and Buy 2 Let Cars and all in administration and in the case of London and Capital Finance and Buy 2 Let Cars, the Serious Fraud Office are investigating the Directors. Wellesley Finance managed to pull off a Creditors Voluntary Arrangement and persuade investors to take a significant haircut in order to let the group restructure and avoid administration.
Published 1505 days ago
The pattern has always been the same. We issued explicit warnings about London & Capital Finance,, Blackmore Bond, Bassett and Gold, Buy 2 Let Cars, The High Street Group and Wellesley Finance. Companies such as my beloved West Ham United screwed over their fans and continued to support these rogues. The FCA was too busy publishing papers on the gender pay gap, Brexit, climate change or LGBT awareness to do anything until tens of millions of pounds had been lost. But heck it is was only the great unwashed who suffered.
Published 2013 days ago
After mini bonds & Neil Woodford where do we think that the chocolate teapots at the FCA financial watchdog will be asleep at the wheel next?
Published 1214 days ago
I first wrote about the High Street Grp on 13 April 2020 warning that it was a façade of a group which would ultimately crash into administration. Although it hasn’t been officially recorded at Companies House yet we now know from the announcement by SKSi High Street GRP Limited in Administration SKSi which are licensed insolvency practitioners that finally the parent of the High Street Group was placed into administration on 16 December 2021. This now means that all 6 of the mini bond disasters predicted on this website have ended with a crash landing in tits up alley. This also means six more fails for the FCA which did nowt on all 6 until it was too late.
Published 1842 days ago
Previously I have warned extensively about London & Capital Finance (now in administration), Blackmore Bond Plc (now in default on interest payments), Wellesley Finance Plc (material uncertainty over going concern) and Bassett and Gold Plc (now in administration). Today, following a reader’s prompt, I publish a major report on another massive mini bond scandal in the making.
Published 1580 days ago
On its website under heading “High Street Group In Numbers” it states its Current Estimated Value of The Group is £1.5 billion and forecasted value of the company by 2023 is £3 billion. My forecast value by the end of 2021 is exactly zero. You will not be able to say that you were not warned. Or that the truly useless FCA has done anything, or is currently doing anything, to stop mug punters losing cash on this mini-bond disaster. Given the scrutiny it faces over London & Capital Finance, that is doubly shocking.
Published 1155 days ago
On 15 February 2021, the administrators of High Street Grp filed its statement of Joint Administrators Proposals. I hope that the FCA which ignored our numerous warnings on what could be the largest mini bond scandal ever, a more than £200 million black hole, feels truly ashamed about what we discovered.
Published 51 days ago
A week after the City of London fuzz announced that looking at a "widespread fraud" it had launched Operation Mold, arrested and charged 4 employees of 79th Group and asked for other victims to come forward, Trustpilot (TRST) which has been a platform for rave reviews for the fraudsters has posted a warning. Well sort of.Published 1677 days ago
I have been warning about Wellesley Finance Plc since Sunday 17 February 2019. It was the third in a series of articles I wrote about mini-bond lenders in early 2019, starting with London and Capital Finance Plc, then Blackmore Bond Plc, and finally Bassett & Gold Plc with the other three now all in administration with substantial losses of investors capital. Now it’s 4 from 4 – ouzo at the Sheriff of mini-bonds towers! And, again, the FCA has fecked it up when it comes to ignoring clear warnings and its basic job of protecting investors.
Published 1993 days ago
In today's podcast I look at PureCircle (PURE), the roll call of shame and who should be publicly executed. I also look at Dev Clever (DEV), Tissue Regenix (TRX) and, once again, at Blackmore Bond a mini bond car crash which appears imminent and is another part of what will be one of the biggest financial scandals for years.
Published 2074 days ago
Lord knows that I love charts and videos in this column and this week is a doozy. A history of the world from 185,000 BCE to now.
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