chris1200
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Post by chris1200 on Jun 20, 2020 13:30:00 GMT
Isnt it about time the police were asked to investigate where the univested 700 pounds cash of my money has gone .seeing it was supposed to be kept in a ring fenced client account , surelly BDO and the FCA have a duty to do this Has it gone anywhere? Were you £700 short on the original statement provided by BDO? The holdings statement doesnt include cash so unless it was missing on the original statement it will still be sat in BDO client account. I wouldn't assume that the police haven't been asked to investigate. Just because nothing has been communicated doesn't mean it isn't happening Agreed on your second para, as per my above post. But re the first para, presumably peteuk is referring to the fact that the Collateral accounts did not have anywhere near as much money in them as should have been there. See my post here: p2pindependentforum.com/post/392441/thread (unless anyone recalls differently).
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peteuk
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Post by peteuk on Jun 20, 2020 13:37:47 GMT
The original statement was correct this statement was correct hopefully the 700 pounds is still sitting in the client account but BDO previously suggested there was a shortfall of 40,000 pounds and its about time if they have any doubts to hand it over to to the police to investigate , not wait another year for an update . The client account as with most peerto peer sites is something that the investor should be able to rely on . This money should have been paid back straight away, otherwise the client account is worthless
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IFISAcava
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Post by IFISAcava on Jun 20, 2020 14:55:07 GMT
The original statement was correct this statement was correct hopefully the 700 pounds is still sitting in the client account but BDO previously suggested there was a shortfall of 40,000 pounds and its about time if they have any doubts to hand it over to to the police to investigate , not wait another year for an update . The client account as with most peerto peer sites is something that the investor should be able to rely on . This money should have been paid back straight away, otherwise the client account is worthless £400k short I thought
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chris1200
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Post by chris1200 on Jun 20, 2020 15:12:10 GMT
The original statement was correct this statement was correct hopefully the 700 pounds is still sitting in the client account but BDO previously suggested there was a shortfall of 40,000 pounds and its about time if they have any doubts to hand it over to to the police to investigate , not wait another year for an update . The client account as with most peerto peer sites is something that the investor should be able to rely on . This money should have been paid back straight away, otherwise the client account is worthless £400k short I thought I'm really not sure at this point. The 21 June 2019 Proposals document (https://www.bdo.co.uk/getmedia/480f0a92-c653-431e-b051-54687aa5908a/Collateral-Companies-Joint-Administrators-Proposals-21-June-2018.pdf.aspx) suggests on pp.9-10 a discrepancy of c. £30k, but I'm not sure whether this included the 'incomplete loan' funds, or just regular uninvested cash. The subsequent documents seem to reference this previously identified discrepancy without providing further info. IFISAcava - have I missed something where this amount was increased/supplemented? It's all getting so hazy now... Edit: Given the value of the apparently not drawndown loans (see: p2pindependentforum.com/thread/12833/non-drawndown-loans-where-funds), the client account balance (apparently c. £430k) certainly can't be included in the above. So, it seems like the true missing figure potentially stretches into the millions...?
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IFISAcava
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Post by IFISAcava on Jun 21, 2020 13:07:33 GMT
I can't remember where that figure came from - it's all memory!
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jcb208
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Post by jcb208 on Jun 21, 2020 16:13:52 GMT
I have £428 difference between proof of debt form and the latest loan exposure form.I know the former was about right as I remember my balance within a few pound
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Post by brightspark on Jun 21, 2020 17:57:44 GMT
Several individuals have now intimated that their figures are around £400-£500 adrift from expectations and postulate that perhaps the client account holds the difference. I would join the club! Sigh!
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