Thoughts on Finance, Current Affairs and General Consumer Ripoffs - Damn Lies and Statistics

As per my previous blog post about many of the companies that LCF have lent money to being linked together as part of a wider company as well as sharing the same registered addresses and directors I've put a diagram together to give an idea of some of the connections. This shows the company structure and which companies owe money to London Capital & Finance according to their accounts filed with Companies House. According to LCF they had 11 borrowers, this one holding company accounts for 7 of those lent money by London Capital & Finance so there are only 4 other companies to be identified that have been given loans. Ultimately London Group LLP own London Group Ltd which in turn owns the other companies. The companies shown in yellow are listed as owing money to London Capital & Finance so it looks like they've lent money to 7 companies within the same group, most of whom have many of the same directors and registered addresses as LCF. London Capital & ...

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...

According to accounts at Companies House the owner of London Capital & Finance as of 2016 was a company called London Financial Group. The owner of London Financial Group is none other than Michael Andrew Thompson of LCF who sold his shareholding to the London Financial Group company in 2016. A way to keep the assets from being attached to him personally? Who Owns London Capital & Finance? Look at the details of London Financial Group and their next accounts are due shortly on 26 January 2019. Will they file on time or delay as per LCF tactics? Their previous accounts show they are in negative equity to the tune of £2007. That's right, no zeros missing - they owe £2007 more than their assets are worth. This is the ultimate owner of  London Capital & Finance at the moment who owes more than the £5000 minimum that a bondholder had to invest into LCF.

Important Information for LCF Investors/Bond Holders Quite a few investors are asking what happens next with London capital finance but are unclear about the processes involved. I t's important to remember that the bonds issued by LCF are unregulated . This sadly means you have no rights to claim with the FSCS  and no rights to complain to the Financial Ombudsman Service (FOS) which was probably not made very clear in the marketing material. If you want to claim against LCF you will need to instruct a solicitor. London Capital & Finance accounts overdue - new date  Key Dates Unless any FCA updates come out the key next date is 17th January 2019. This is the deadline for LCF to publish their long delayed accounts for 2018. They've already used a loophole to avoid publishing them once, will they do so again or will we get to find out how much money is there and how many loans they have made? Last year the loophole was used several times to delay the accounts ...

It's now been 2 weeks since the FCA announced that they had frozen all assets and bank accounts of London capital finance after previously ordering them to remove all marketing materials. In that time a lot of investigation has been done and a huge quantity of information gathered about LCF and the lending that they've done. FCA announced on 28 December that they were investigating LCF. It's important to understand what a FCA investigation means . It's clear reading the details that an investigation is not relating to marketing materials. FCA state they must consider " the strength of the evidence and the proportionality and impact of opening an investigation ".  When you look at the known information about London Capital & Finance it doesn't look very promising for investors. This information is all public domain from Companies House and from other 1) Promoted unregulated bonds to unsuitable investors they knew were not high net worth and used...

According to the most recent accounts (more recent accounts have been delayed due to  LCF using a loophole to avoid  publication) London Capital Finance only have 11 borrowers so they have only lent money to 11 companies although that is an increase from the 6 of the previous year. The majority of these companies appear to be ones controlled by London Power which runs from the same address and with some of the same directors as London Capital Finance.  LCF How Many Loans/Borrowers do London Capital Finance Have? With a loan book valued at £58m that's an average of over £5 million per loan. This is an average, it's possible that some were much higher value loans.  Were London Capital & Finance bond holders aware that there was such a small pool of borrowers  with loans as this significantly increases the risk? One loan going bad can wipe a significant portion of the bonds out in one go. From the accounts CV Resorts would appear to...

Keetoro Asset Management are advertising on Google for High Return bonds. Is this bond too good to be true or is it a con? This is a review of the Keetoro Fixed Return bond. Keetoro Asset Management High Return Bonds Review The bond claims to be paying fixed returns of 8.5%, but if you look beyond the headline figures and at the details below it shows the risk warnings. Namely:  Capital is at risk - you may lose some or all of your investment Returns are not guaranteed Products are not protected by the FSCS So a fixed rate but returns are not guaranteed. Capital secured but you may lose your investment. Clear as mud - right? The reason there is so much contradiction is that the bond is unregulated so doesn't have to comply with the information FCA approved and authorised investments have to meet. Effectively they are saying one thing in the big print but contradicting elsewhere.