Thoughts on Finance, Current Affairs and General Consumer Ripoffs - Damn Lies and Statistics

Oakridge & Big Roar Property Investments There is a company called EWP Group that is offering investments in various unregulated high risk bond offers with a slick presenter telling potential investors about the safety of the investments. It needs to be highlighted that ANY unregulated investment has NO FSCS protection and is therefore very high risk. Any investors should be using their regulated investment options before even looking at these sort of unregulated high risk options. The companies being promoted by EWP Group appear to be Oakridge and Big Roar property bond investments. EWP Group don't seem to be overly successful themselves as it appears from their accounts that they're making continual losses and are currently over £2 million in losses sitting in their balance sheet. They've also used an accounting trick to change the date of their accounts which allows them to delay publishing their details. This is an entirely legal option but is one that has been used...

 Yet another "alternative" investment platform has been shut down by the FCA. Moneda Capital was somewhat more blatant than others in that it was claiming to offer savings accounts via its Savings Hub yet the banks listed as being recipients of the funds had no knowledge of Moneda Capital using them. We'll have to wait to see what the FCA find when they investigate but the fact they have shut them down and frozen the assets of the company isn't a great sign. The Moneda Capital website is no longer available and the only message shown is the FCA investigation warning. There is no way to click off the warning to see the rest of the site. It's very worrying that there are investors on their Trustpilot review page that say they have put their life savings into Moneda's Savings Hub with one claiming to have over £300,000 placed with them. If that's the case there could be many investors out of pocket. There were warnings here about Moneda Capital but sadly on...

 The FCA have taken High Court action against the people behind Concept Capital Group which was reported here back in 2021 with many replies from them protesting their innocence. FCA disagreed and have accused them of operating an unauthorised investment scheme and misleading consumers with false information. It's unclear how this might affect anyone who has invested money with them. According to the article on their website it's a total of £23million that has been collected by Concept Capital https://www.fca.org.uk/news/press-releases/fca-acts-alleged-23-million-unauthorised-collective-investment-scheme The risks that were hidden on the Concept Capital website

Further to the previous post about Moneda Capital it seems they are ramping up their sales pitch using the name My Savings Hub. The following was reported by someone who was contacted by them after filling in a contact form from their advert on Facebook/Instagram. Be very, very careful if you are looking at savings options that are outside the FSCS protected range of UK banks. This company claim to use other banks but the banks have confirmed they are not an approved representative of them. If you hand over your money in the expectation it will be passed on to a bank like Close Brothers then you could be very disappointed and out of pocket. Email from Moneda Capital called My Savings Hub. Hope this email finds you well and good speaking to you as discussed, I recommend that you register to gain access to our other products. Our approach is very simple: We help you maximise your returns while eliminating the hassle of constantly tracking the best rates yourself by providing you with exc...

I've seen a company called Moneda Capital advertising heavily on Instagram and Facebook. I think it's likely to be quite confusing for anyone viewing the adverts as they're posted alongside established investment companies such as Investec and Interactive Investor.  Moneda Capital Advert for Savings at 4.9% with Unknown Bank Some people say that any investment on social media is a scam but that's clearly not the case when Investec and ii are both advertising. However it's worth flagging up the risks to anyone who is considering entrusting their money to Moneda Capital. Investec Advert for Savings at 4.84% I'm not sure what sort of organisation they are but their website seems to be hiding their company details so they aren't visible on their homepage. The legal requirement is to display the Company Info "prominently" so I don't think hiding this in their privacy policy follows the spirit of these rules even if it technically complies.  There ar...

 In the civil case brought by the administrators of LCF (London Capital & Finance) the High Court has now ruled that LCF was a Ponzi scheme where new investors' money is used to pay back interest and capital to existing ones. This was fairly clear from the information that showed LCF was lending money to new companies that had no means to pay any interest. What wasn't known at the time was that these companies were all being used by the people behind LCF to extract as much money as they could from investor's contributions. The court is yet to determine the amounts that the defendants need to repay. When a company isn't interested in the accuracy or truthfulness of its advertising then it's very often the case that they really aren't bothered who they mislead and scam. LCF Advertising The complex web of interconnected companies that LCF gave money to. This is very deliberate use of the word "gave" rather than "lent" as many of these compan...