London Capital & Finance owned a helicopter purchased by Andy Thomson.
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 valuable horses have been moved to Spain. Pro…