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Published 2185 days ago
Let us be clear: Johnny Mercer, the Tory MP is not involved in the London & Capital Finance scandal which we have done so much to expose. But he is personally profiting from what will prove to be the financial scandal of the year, the mini-bond mis-selling affair, and his reaction to criticism of his behaviour is lamentable.
Published 1841 days ago
In my dynamte expose of 2 April 2019, I published my first note on mini bond charlatans Basset and Gold Plc based on the accounts for the year ended 30 September 2017 warning of the risks associated with this mini bond lender. Yesterday it went bust with West Ham supporters the main victims, the club ignoring my warnings as it greedily took Basset's cash. So how much have my fellow supporters lost? This will shock you.
Published 1819 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 2181 days ago
I am delight to see that a mere 26 days after we exposed the looming scandal involving my beloved West Ham United and its mini bond short sponsor Basset & Gold, that the deadwood press ( The Sunday Telegraph) has picked up on the matter. As ever the MSM well on the ball, what a suprise that newspaper sales are tanking. But the story gets worse as I can now reveal....
Published 2206 days ago
London & Capital Finance, which we have done so much to expose here, is just the tip of what will prove to be an enormous mis-selling scandal where, naturally, the overpaid poltroons at the FCA have been 100% asleep at the wheel. Yesterday I raised massive questions about the West Ham promoted Basset & Gold scheme, today let’s look at Future Renewables Eco PLC…
Published 2202 days ago
It sounds great, the latest 8% yielding mini bond plugged aggressively by ADVFN, the second Burrito Bond. Unfortunately if you do a bit of digging this is yet another mini bond scandal set to join the growing list.
Published 1927 days ago
Well you have been warned repeatedly by myself for almost a year as was the FCA which, natch, did nothing. Wellesley Finance has finally filed its 6 months overdue accounts for the year ended 31 December 2018 at Companies House and they are truly dire. The net loss before tax is £10,249,314 and a deficit on shareholders’ equity was £9,202,737. The auditors, unsurprisingly, cite a material uncertainty on going concern. Worrying times for the mini bond lenders who have lent £99,540,212 to Wellesley Finance Plc. A further £64 million in Peer to Peer assets is held off the balance sheet.
Published 1711 days ago
It is 92 days since I last wrote about Wellesley Finance Plc. So, I have looked at recent developments at the mini bond disaster waiting to happen where the FCA is, as ever, asleep at the wheel.
Published 1202 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 1568 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 1842 days ago
I warned you on April, 2 2019 that this mini bond firm looked very dodgy and would end in tears. The FCA ignored me or did it?. My beloved West Ham certainly ignored me and many of its poor fans, having endured merde on the pitch all season, now have to face up to the risk of massive financial losses as well. West Ham did not give a FF about its fans it just wanted sponsorship cash. Its despicable board would allow Satan as a sponsor as long as he had enough dosh. Anyhow, you read it all here first.
Published 1255 days ago
I first wrote about the High Street Group 575 days ago, explicitly warning that it would go bust It was the sixth mini bond scheme I had written about. Five have gone tits up. Natch the institutionally useless FCA has ignored my oft repeated warnings about The High St Grp, as it ignored my warnings about the other five mini bond disasters I flagged up, And High St has conducted business as usual. But that looks about to end.
Published 39 days ago
And yet again, Nigel Somerville is the most read non-Tom article, at number 3 or number 4 including Bearcasts for The View From The Montana Log-Cabin As JRB’s Call On Gold Bang On The Money.
Published 1404 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 44 days ago
It takes a lot to shock me but events today at First Class Metals (FCM) on the main market are just so truly appalling that I cannot see h9w advisor Novum has allowed a shambles like this to occur. Where on earth is the FCA?Published 1981 days ago
I have warned before that Wellesley Finance was yet another mini bond provider to avoid like the plague. Now another red flag emerges....
Published 5 days ago
The deadwood press has served up little coverage of the mini bond ponzi fraud at the 79th Group which this website has been all over. Maybe it thinks it is too small. Far from it as my latest analysis indicates, this is utterly shocking.Published 1882 days ago
I last published an update about Wellesley Finance Plc on 7 January 2020 discussing the dire results for the year ended 31 December 2018. The results of the Wellesley Group Investors Limited, the ultimate parent, for the year ended 31 December 2018 are now 4 and half months overdue so we cant evaluate how the whole group is performing. But there are yet more red flags now fluttering. the only thing we cannot say is when the car crash will happen.
Published 1925 days ago
The Financial Services Compensation Scheme (FSCS) scheme has today announced grim news for nearly all of those who had their money stolen by Amber Rudd’s good pal Simon Hume-Kendal[l and others at London & Capital Finance. Almost none of these mini-bond victims will be getting any compensation. But every cloud has a silver lining…
Published 1968 days ago
Whatever next will the ever proactive FCA think of? Perhaps it might warn folks about the dangers of investing in Neil Woodford managed funds. I suppose better late than never. Very late in the day, the chocolate teapots are acting on mini-bonds.
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