Warning about London Capital & Finance Bondholders Facebook Group
A group has been setup on Facebook for London Capital & Finance Bondholders to discuss the situation regarding the bonds. It's a great idea if done in the correct way but unfortunately the impressions of the group are that it's being controlled by someone from London Capital Finance or influenced by the company to prevent accurate facts being given about the current situation.
The admins are removing any discussion or members that they appear to deem to be insufficiently positive about the situation. Sadly the situation isn't positive so it gives the impression that all is rosy which suits LCF but is not the truth.
Be very wary of any groups that are not allowing full discussion and appear to be shutting down any negativity towards LCF - they could well be operated by them.
Bondholders wanting reassurance that their investment is safe will be sadly disappointed. Even if London Capital & Finance isn't a fraud their money is at risk because they bought an unregulated risky product. That message doesn't seem to be getting through to many people who bought bonds. A number showing as the value of their investment on the LCF website after logging in does not indicate that the money is there. It's just a number showing the amount they put in. The website showing a balance is a completely pointless feature as it will never change regardless of situation. It is a false reassurance.
In effect it is no different to being asked to borrow money by someone in the street saying they will pay you back and you can have the house nearby if not. Unless you have done your own research to confirm they own the house and it's good security you have no way to assess. A flashy website and friendly call centre staff doesn't mean there is no risk if you have not done your own due diligence.
These were the risk warnings below that you can still see now on the LCF website. Just because you didn't see or read them doesn't mean they didn't exist then and don't exist now. I'm afraid that is the reality regardless of what LCF or other bondholders might try to reassure you with.
The admins are removing any discussion or members that they appear to deem to be insufficiently positive about the situation. Sadly the situation isn't positive so it gives the impression that all is rosy which suits LCF but is not the truth.
Be very wary of any groups that are not allowing full discussion and appear to be shutting down any negativity towards LCF - they could well be operated by them.
Bondholders wanting reassurance that their investment is safe will be sadly disappointed. Even if London Capital & Finance isn't a fraud their money is at risk because they bought an unregulated risky product. That message doesn't seem to be getting through to many people who bought bonds. A number showing as the value of their investment on the LCF website after logging in does not indicate that the money is there. It's just a number showing the amount they put in. The website showing a balance is a completely pointless feature as it will never change regardless of situation. It is a false reassurance.
In effect it is no different to being asked to borrow money by someone in the street saying they will pay you back and you can have the house nearby if not. Unless you have done your own research to confirm they own the house and it's good security you have no way to assess. A flashy website and friendly call centre staff doesn't mean there is no risk if you have not done your own due diligence.
These were the risk warnings below that you can still see now on the LCF website. Just because you didn't see or read them doesn't mean they didn't exist then and don't exist now. I'm afraid that is the reality regardless of what LCF or other bondholders might try to reassure you with.
- Our products are aimed at retail clients who are UK taxpayers and who fall in the category of either High Net Worth Individual, Sophisticated, Self Certified Sophisticated or Restricted Investor.
- In the event that these borrowers default on the loans, investors may lose some or all of their investment. Investment in the bonds of London Capital & Finance Plc is therefore speculative and involves a degree of risk.
These warnings are not scaremongering they are real. Lending money to companies at high rates is not a guaranteed business in the same way that pay day loans are expensive because of the risk.
There is another Facebook group created on behalf of a lawyer who has previously recovered money from other failed investment schemes. London Capital Finance Action Group is to help investors to recover their money. There are no guarantees and you may not appreciate the reality of some posts about the situation but surely it's better to be prepared rather than only talking to people that say everything is fine when it clearly isn't!
https://www.facebook.com/groups/400375487372850/
There is another Facebook group created on behalf of a lawyer who has previously recovered money from other failed investment schemes. London Capital Finance Action Group is to help investors to recover their money. There are no guarantees and you may not appreciate the reality of some posts about the situation but surely it's better to be prepared rather than only talking to people that say everything is fine when it clearly isn't!
https://www.facebook.com/groups/400375487372850/
At no time has the London Capital and Finance Bondholders group, https://www.facebook.com/groups/Londoncapitalandfinancebondholders, been controlled by someone from London Capital Finance or influenced by the company to prevent accurate facts being given about the current situation.
ReplyDeleteWhen the London Capital and Finance Bondholders group, https://www.facebook.com/groups/Londoncapitalandfinancebondholders, was first created, there was some overzealous moderation. As a result of a differences between those doing the moderating and the group founder, they left the group and formed yet another group.
The London Capital and Finance Bondholders group, https://www.facebook.com/groups/Londoncapitalandfinancebondholders, is by far the largest of all of the London Capital & Finance Facebook groups.