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  1. Stephen
    April 26, 2019 @ 6:24 am

    Finally, a good write-up from the Newbie!

    I am going to add to it – you wouldn’t expect anything less!

    “Recently, there has been a lot of media coverage on high-cost, high-risk bond investments failing. ” True.

    The wolves – journalists – are smelling blood now. I have been approached by a very large national newspaper recently for the shed load of evidence I have on Nunn & McCreesh’s Blackmore Global fund, along with Ferguson & Vilka – of Square Mile International Financial – that between them transferred my pension into their own unregulated funds using fraudulent misrepresentations, for their own enrichment.

    The wolves are looking for evidence of criminal activity on the one hand and also questioning the impotency of the FCA to curb this plague and protect investors.

    The spectacular collapse of London Capital & Finance (LCF), which has now been declared a Ponzi scheme – https://bondreview.co.uk/2019/03/27/london-capital-finance-was-a-ponzi-scheme-administrators-confirm/ – is made all the more high profile because its promoter, Surge Financial Ltd, owned by Paul Careless, has effectively been paying Johnny Mercer, MP for Plymouth Moor View, £85k per annum for just 20 hours work a month as a non-executive director of Crucial Academy.

    Surge Financial are also described as a strategic partner of Blackmore Bond Plc according to their financial report published last year.

    Angie reported last year on a “bait & switch” tactic by Careless who attempted to con Kent Police so that Blackmore could state on its website they were the “Proud supporters of the Kent Police Rugby Team” – https://pension-life.com/blackmore-bond-shaken-not-stirred-careless-or-stupid/

    Blackmore’s profile is raised yet higher by the fact that Gavin Newlands, MP for Paisley & Renfrewshire North, raised a question in the House – https://hansard.parliament.uk/Commons/2019-03-14/debates/F2A0FEF5-5B87-4986-8709-D67FB7F0CC90/BusinessOfTheHouse?highlight=blackmoor#contribution-9199AA67-BC12-4EFD-8872-176AD5E62698 – because his “… constituent invested her £60,000 life savings in London Capital & Finance and had put £20,000 in a similar company called Blackmoor(sic)…” – note the word “similar”.

    There is much speculation that Blackmore is LCF 2.0

    That Blackmore is closed to new subscriptions to its bond is troubling given the auditors of the financial report drew attention to Blackmore’s dependency on £1.5m new subscriptions per month to meet its contractually committed fees and said there was a material uncertainty as to the company’s ability to continue as a going concern.

    I have given a ton of hard evidence to the wolves who plan to run it by their lawyers to see if any of it amounts to criminal activity. They may not do anything with it but I hope they do because I would love nothing more than to see these sharks go down – especially the arrogant Ferguson and his sidekick Vilka, who tried to shut me up with a pathetic £6000 – https://www.bbc.co.uk/news/business-42776709 – I will not be silenced by these bar-stewards!

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