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

LCF seem to have found a loophole with Companies House filing to avoid any review of their accounts and prevent them being made public. By reducing their accounting period by 1 day it gives them another 3 months to submit their accounts and avoid any scrutiny of the numbers and their profit & loss statements. London Capital Finance Fraud Loophole If you were a fraudulent company trying to avoid any warning to investors that you were having trouble with your finances then this would be a perfect tactic to prevent such information going public. This isn't to suggest that London Capital Finance are fraudulent or anything other than a genuine company offering unregulated investments that could lose all your money but their tactics do raise concerns about their transparency. This is not the first time that London Capital and Finance have adjusted their reporting period so that the accounts do not need to be submitted to Companies House. You can see from the link that it is s

A company called Review your ISA are advertising on Facebook. When you dig into their website the following info is shown: SELF-CERTIFIED SOPHISTICATED INVESTOR STATEMENT I declare that I am a self-certified sophisticated investor for the purposes of the Financial Services and Markets Act (Financial Promotion) Order 2005. I understand that this means: I can receive financial promotions that may  not have been approved  by a person authorised by the Financial Services Authority; the content of such financial promotions may  not conform to rules  issued by the Financial Services Authority; by submitting my details , I may  lose significant rights ; Is Review Your ISA a scam or Genuine Investment? Despite using the words SAVINGS and ISA and interest, this is an INVESTMENT product that risks your money. It is NOT a savings account or savings bond. If you believe your money is safe then you are being misled. Stating it is asset backed is meaningless, there is no guarantee any

A firm called Universal Wealth Management that promised to protect from Inheritance Tax has collapsed risking customers losing their life savings and potentially houses. People had transferred their assets into trusts controlled by Universal Wealth preservation which means they no longer own them. As a result they will avoid IHT but also have no ownership of the assets and rely on the honesty of the the Universal Wealth team to get their homes or savings. https://www.bbc.co.uk/news/uk-england-suffolk-45829270 Many people were warning about this company as far back as 2014 on the Money Saving Expert forums but were being threatened with legal action to remove their comments. In hindsight it appears that these concerns were valid and should have been heeded. https://forums.moneysavingexpert.com/showthread.php?p=74916701 Even on my blog I'd warned about Universal Wealth Preservation Trust some months ago

As per the Store First storage pods there are now complaints coming out about Park First airport parking investments where they sell you a parking space near an airport with a guarantee that you will be paid 8% or so income for a number of years. Exactly the same model was used for Store First where a lot of people got their fingers burnt when the company stopped trading and the storage pods were shown to be worthless. People are now complaining that they are unable to get their money back from Park First and have been waiting many months. It has also been reported on the MSE forum that Park First has no significant assets and that the company accounts show  " it held no tangible assets (its only assets were £10k worth of "patents and licences" and £515k of debtors, mostly trade debtors). The land is presumably owned by other Group First companies." Park First are not the only company offering similar airport parking investment, another one called Aston Darby