London Capital & Finance - It WAS a Ponzi Scam!

By J Drew -

 In the civil case brought by the administrators of LCF (London Capital & Finance) the High Court has now ruled that LCF was a Ponzi scheme where new investors' money is used to pay back interest and capital to existing ones. This was fairly clear from the information that showed LCF was lending money to new companies that had no means to pay any interest. What wasn't known at the time was that these companies were all being used by the people behind LCF to extract as much money as they could from investor's contributions.

The court is yet to determine the amounts that the defendants need to repay.

When a company isn't interested in the accuracy or truthfulness of its advertising then it's very often the case that they really aren't bothered who they mislead and scam.

LCF Advertising

The complex web of interconnected companies that LCF gave money to. This is very deliberate use of the word "gave" rather than "lent" as many of these companies were handed money without loan agreements being in place and with no means to repay them.


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