Oracle Ltd in Malta - Owner of London Capital & Finance Trustees

By J Drew -
London Capital & Finance claimed in the marketing that their bonds were "fully asset backed for security" and were protected by a Trustee who would enforce the security for bondholders. This trustee company just happened to be registered at the same address as LCF.

 As of 22 January 2019 London Capital & Finance have transferred the management of their £200 million bond & loan business to GLOBAL SECURITY TRUSTEES LIMITED. This is a dormant company with assets of £100 and registered at the same address as LCF with directors that have also served at LCF.
As of April 2018 the majority owner of GLOBAL SECURITY TRUSTEES LIMITED is based in Malta, a company called Oracle LTD, nothing to do with the huge Oracle Corporation of USA. 
  • Why would the owner of a dormant Trustee company with assets of only £100 need to be based in Malta? 
  • If the Trustee is owned by a different company outside the UK, could they just walk off with the money of the bondholders?
  • All London Capital & Finance assets are assigned over to GLOBAL SECURITY TRUSTEES LIMITED. The owner of these assets is now based in Malta. What obligation do they have to LCF bondholders?
The record at UK Companies house shows Oracle Limited details. Oracle Ltd, company ref C81910 is registered in Malta as being at 43A/1 St Paull's Buildings West Street Valletta Malta.

 The ownership of Maltese companies is very hard to determine. Could this be why the company chose to be listed in Malta? Who is behind Oracle Limited? Are they the same people as LCF?

 Has Malta been chosen as the location for the company to avoid the jurisdiction of the FCA?

 https://beta.companieshouse.gov.uk/company/09846126/filing-history



Photo of the offices of the owner of GLOBAL SECURITY TRUSTEES LIMITED in Malta, Oracle Ltd as given by Companies House UK. Oracle Ltd C81910 is registered as being at 43A/1 St Paull's Buildings West Street Valletta Malta
offices of the owner of GLOBAL SECURITY TRUSTEES LIMITED in Malta, Oracle Ltd
Offices of the owner of GLOBAL SECURITY TRUSTEES LIMITED in Malta, Oracle Ltd

However it appears that the address given in the Companies house filing is wrong and Oracle Ltd is based at a different address in Malta. 

56, GROUND FLOOR, EUROPA CENTRE, SAINT ANNE STREET, FLORIANA, Malta

The registration for Oracle Ltd is C 81910. Malta Company registration doesn't give any details of the ownership or directors of the company online so more investigation is needed for this.

offices of the owner of GLOBAL SECURITY TRUSTEES LIMITED in Malta, Oracle Ltd
offices of the owner of GLOBAL SECURITY TRUSTEES LIMITED in Malta, Oracle Ltd
Why would a company selling unregulated bonds to UK investors assign the security trustee to a company that is owned by another company in Malta? There would appear to be no logical reason to do so other than trying to hide the ultimate owner of those assets or prevent them being pursued from the UK

Comments

  1. Unknown7 June 2019 at 14:40

    Outright theft, pure and simple. The SFO should be pursing this with the High Courts permission.

    ReplyDelete
  2. IAN DAVIS21 April 2020 at 15:43

    London Capital Finance's boss Andrew Thomson is the owner of Oracle Limited, who controlled the security trustee for 7 months.............Total fraud !!!!!!!!!!

    https://registry.mbr.mt/ROC/index.jsp#/ROC/companyDetailsRO.do?action=involvementList&companyId=C%2081910

    Also the company who held the shares were Oracle Asset Management llp owned by Andrew Thomson & his father Ronald.

    https://beta.companieshouse.gov.uk/company/OC411428/officers

    The company address is also Steven Davidson's (Chartered accountants) of 14 David Mews London who also just happened to act as LCAF's secretary CAA Registrars Limited !!

    https://beta.companieshouse.gov.uk/company/09225604/officers

    https://beta.companieshouse.gov.uk/company/08140312/officers

    ReplyDelete

Post a Comment

Popular posts from this blog

Concept Capital Group Review - Is it Genuine or a Scam?

By J Drew -
Image
Investment in Concept Capital Group is being promoted on Facebook and Rightmove to solicit investment in their static caravans for rental to social housing tenants via Social Park Housing. Concept Capital Group are claiming to guarantee rental income of 10% but as investors in London Capital & Finance are fully aware, this sort of guarantee is fully dependent on the company making it still being in business. If the company fails for any reason then there will be no-one to support the guarantee or to return money to investors.  Update November 2024: It's reported on MSE that investors are struggling to get repayments of their investments with various excuses. If the company fails your guarantee disappears. Concept Capital Group have only existed since 2019 so have no track record of honouring investment guarantees over the long term. Concept Capital Group Risks - Is it a Scam? Concept Capital Group include a small link to a disclaimer page on their site that identifies the risks...
Read more

LCF - Where Are The Assets & People Now?

By J Drew -
Image
Where are the People and assets behind LCF & their agent Surge Financial? London Capital & Finance owned a helicopter purchased by Andy Thomson. LCF helicopter seized This has now been seized and is being held at Shoreham Airport in Sussex. According to the administrators one of the loans of £12 million was to a stables called Home Farm originally run by Spencer Golding but now owned by Sean Cubitt who was unable to provide any paperwork for the purchase of the company or for any of the horses. There were originally 85 horses apparently with a combined values of £15 million according to the owners but when the administrators visited they could only see 35 that had a value of less than £10,000 each. Sean Cubitt claimed that there was no bank account for the company that runs Home Farm. So a company with no bank account was loaned £12 million by LCF. Yet another example of the lies they told to investors about their lending process. We understand that the val...
Read more

Is Marshbell Group Solar A Scam? Review of Fixed Rate Bonds

By J Drew -
Image
  Latest UPDATE   Feb 2024  - Marshbell being struck off - act now!    A question has been raised on Marshbell Group investment in solar farms and whether it is a scam   The website is: marshbellgroup.com Offering 2 Years Fixed Rate Account at 8.4% p.a with monthly interest payments 2 Years Fixed Rate Account at 10.20% p.a with interests paid at maturity. Does anyone have any experience with/of them? Is it a legit company or a scam? UPDATE -December 2021 The FCA have now issued a warning about Marshbell Group operating without authorisation in the UK.  https://www.fca.org.uk/news/warnings/marshbell-limited-t-marshbell-group The FCA say:  This firm is not authorised by us and is targeting people in the UK. Marshbell claim the investment is only suitable for certain classes of investor - yet it is clear they sold to people that were not in these classes. Investors are reporting that they have not received interest payments from Marshbell - more deta...
Read more