London Capital Finance - Update 22 January 2019
London Capital & Finance have announced today that the board of Directors has passed management of the company to Global Security Trustees Ltd. It's too early to know exactly what this means and if it is a good or bad sign but remember that Global Security Trustees is run by a company in Malta so the assets of LCF are now potentially being managed by a company run from outside of the UK.
Curiously Global Security Trustees Ltd has no employees, no money in the bank other than £100 so who is paying for the management of LCF and who will be actually doing the management? There are 2 directors but what experience do they have running the business?
What do you think of the news? Good or bad? Add your comments below
There is a new article in the Evening Standard about LCF that reiterates much of the information that I've posted here over the last 2 weeks and confirms what I've previously stated. It's reassuring that despite being told the information posted is scaremongering that it's now being backed up by media investigations.
https://www.standard.co.uk/business/bond-firm-lcf-lent-millions-on-pet-projects-a4044866.html
It's good to see that the issue of unregulated bonds is finally being given publicity but it's a shame that it has taken over 2 years for this to be raised from when I and others on the MSE forums started to flag the problems.
https://www.standard.co.uk/business/jim-armitage-watchdog-must-raise-alarm-level-on-unregulated-bonds-a4030806.html
Despite this there are many companies still selling & promoting such high risk products to people who believe them to be equivalent to savings accounts.
Would you know that this product was high risk with the potential to lose 100% of your money?
Curiously Global Security Trustees Ltd has no employees, no money in the bank other than £100 so who is paying for the management of LCF and who will be actually doing the management? There are 2 directors but what experience do they have running the business?
What do you think of the news? Good or bad? Add your comments below
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| Global Security Trustees Ltd Ownership Malta |
There is a new article in the Evening Standard about LCF that reiterates much of the information that I've posted here over the last 2 weeks and confirms what I've previously stated. It's reassuring that despite being told the information posted is scaremongering that it's now being backed up by media investigations.
 |
| London Capital Finance Update |
https://www.standard.co.uk/business/bond-firm-lcf-lent-millions-on-pet-projects-a4044866.html
It's good to see that the issue of unregulated bonds is finally being given publicity but it's a shame that it has taken over 2 years for this to be raised from when I and others on the MSE forums started to flag the problems.
https://www.standard.co.uk/business/jim-armitage-watchdog-must-raise-alarm-level-on-unregulated-bonds-a4030806.html
Despite this there are many companies still selling & promoting such high risk products to people who believe them to be equivalent to savings accounts.
Would you know that this product was high risk with the potential to lose 100% of your money?
Its cost me a fortune and a heart attack
ReplyDeleteSorry to hear that, it's certainly not a good situation for anyone who invested money to have to wait to find out
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