merlin99
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Post by merlin99 on Jun 2, 2021 14:57:06 GMT
I don't disagree with you but to satisfy our complaints is going to take a lot of money and massive loss of face by the FSA and those running it now and in the past. Somehow I cannot see this happening. However it is just possible that they will in the end admit that they should have done better and that what has happened has been, to use a vey common hackney expression "a valuable learning experience".
However I think that what most of us would want is sensible reparations in the form of hard cash we lost.
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agent69
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Post by agent69 on Jun 2, 2021 15:33:04 GMT
I invite you good scammed folks to answer a simple question. Do any of you seriously believe the FCA are going to sort out this mess and the other P2P horrors? Personally I do not think they will because it would create presidents which in turn will cost a huge amount of money to put right. I am reminded of a phrase in common use in military circles it is called "p*ssing into wind" Or possibly precedents
However, I share your pessimism regarding the likely outcome. I think there is more chance if India being added to the travel green list when it is updated tomorrow, than of the FCA agreeing to a meaningful payout.
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merlin99
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Post by merlin99 on Jun 2, 2021 16:27:04 GMT
You can put the "precedents" own to either my auto spell checker or my dyslexia. Which ever, sounds like we are singing from the same hymn sheet.
Personally I would be satisfied if somehow the perpetrators of these cons could be dealt with under criminal law as I believe we all were victims of multiple confidence tricks on many different levels. To me it feels like they have burgled my bank account and to date got away with it!
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Post by hoovervision on Aug 2, 2021 19:43:46 GMT
I am not sure if this is the right topic to post in. But when are the FCA going to do something about this. The last updates were horrendous and showed just how vulnerable us investors were to the fraudulent lending and borrowing here. FCA just say they are investigating but what does that mean ? I do not believe for 1 second that FS were a little naive with the valuations and lending. They were in it from the start and it is not beyond the realms of possibility that there has been some large sums handed back to FS in offshore or in bitcoin.
This company was looked into, monitored and given the green light by FCA to give the lenders the confidence to lend to them.
So sad and angry at all this. This has changed my life and destroyed my future, friendships and can't see it ever being addressed.
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Post by overthehill on Aug 2, 2021 20:43:40 GMT
I am not sure if this is the right topic to post in. But when are the FCA going to do something about this. The last updates were horrendous and showed just how vulnerable us investors were to the fraudulent lending and borrowing here. FCA just say they are investigating but what does that mean ? I do not believe for 1 second that FS were a little naive with the valuations and lending. They were in it from the start and it is not beyond the realms of possibility that there has been some large sums handed back to FS in offshore or in bitcoin. This company was looked into, monitored and given the green light by FCA to give the lenders the confidence to lend to them. So sad and angry at all this. This has changed my life and destroyed my future, friendships and can't see it ever being addressed.
It's absolutely the right place because a lot of people blame the FCA just as much as FS and the courts will decide.
People who perpetrate these types of scams to enrich their own life couldn't give a toss about the victims.
If it's any consolation there are hundreds if not a few thousand who were duped.
FCA are not fit for purpose, better qualified people than me have been saying this for years.
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rogerthat
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Post by rogerthat on Aug 2, 2021 20:52:48 GMT
I am not sure if this is the right topic to post in. But when are the FCA going to do something about this. The last updates were horrendous and showed just how vulnerable us investors were to the fraudulent lending and borrowing here. FCA just say they are investigating but what does that mean ? I do not believe for 1 second that FS were a little naive with the valuations and lending. They were in it from the start and it is not beyond the realms of possibility that there has been some large sums handed back to FS in offshore or in bitcoin. This company was looked into, monitored and given the green light by FCA to give the lenders the confidence to lend to them. So sad and angry at all this. This has changed my life and destroyed my future, friendships and can't see it ever being addressed. It would have been easier for me to uptick your comment and move along. It wont be a shred of comfort to you but rest assured you are not alone. I notice this is your first post..have you sent a complaint to the FCA ?..it wont make you feel any better or get any immediate answer as any outcome is delayed pending 'investigations' . However, it is never too late until the fat lady sings. There are some helpful and far more knowledgeable people on here than I, all in the same boat. Should you wish, sing out and I'm sure someone will point you in the right direction. p.s...If you do send a complaint in (online) you may or should receive an email acknowledgement of receipt (one assumes the FCA are still in existence)
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Mucho P2P
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Post by Mucho P2P on Aug 2, 2021 21:12:27 GMT
I am not sure if this is the right topic to post in. But when are the FCA going to do something about this. The last updates were horrendous and showed just how vulnerable us investors were to the fraudulent lending and borrowing here. FCA just say they are investigating but what does that mean ? I do not believe for 1 second that FS were a little naive with the valuations and lending. They were in it from the start and it is not beyond the realms of possibility that there has been some large sums handed back to FS in offshore or in bitcoin. This company was looked into, monitored and given the green light by FCA to give the lenders the confidence to lend to them. So sad and angry at all this. This has changed my life and destroyed my future, friendships and can't see it ever being addressed. Write to the FCA, and brace yourself for the legal excuses of why its not their fault! I would suggest you sign up to FSAG to keep abreast of minor developments as they occur: www.facebook.com/groups/626220967911432/announcements
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adrian77
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Post by adrian77 on Aug 3, 2021 7:37:07 GMT
Sadly I and many others totally agree with this - given we were told this Italian book owner paid his loan interest before being told FS were paying them then I wonder just how much we have been duped - as to why the FCA never picked this up is beyond me. At worse I am going to lose a small sum with these muppets but really feel for those who have lost huge sums, life savings etc
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merlin99
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Post by merlin99 on Aug 3, 2021 14:59:58 GMT
The announcement from the receivers that there is nothing to come back from the Whitehaven and Astbury loans further underlines the need to sue the directors of FS for all the lies and make believe that they spun to get us to invest. If not suing then the FCA cannot possibly ignore these two loans as clear evidence of misappropriation by the said directors which they had effectively underwritten by granting them the opportunity to trade in this market.
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criston
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Post by criston on Aug 3, 2021 18:07:11 GMT
I have not as yet lost any money, although I only had 5 loans in the first place, but have 3 loans outstanding, 2 of which I anticipate some form of loss.
So far I have not been in a position to complain to the FCA.
Neither do I have any funds available to withdraw, if that was possible.
Eventually I hope I will have funds available to withdraw, but obviously not with the “Quistclose Trust” problem.
Do I take it when & if the funds end up in the holding account, at that point they are actually protected by the FRICS whatever the outcome of the “Quistclose Trust” problem.
Please advise.
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rogerthat
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Post by rogerthat on Aug 23, 2021 15:47:44 GMT
Received at 15.38 today.. I write further to our previous correspondence with you to provide you with an update following the deferral of your complaint. The FCA’s Enforcement investigation into FundingSecure Ltd is ongoing. Unfortunately, I am unable to provide you with specific details about the ongoing investigation because there are limits on the information the FCA can share due to confidentiality obligations set out in section 348 of the Financial Services and Markets Act 2000 (FSMA), and for policy reasons which are explained on our website. As the FCA’s investigation is ongoing, the investigation of your complaint will remain deferred, in accordance with paragraph 3.7 of the Complaints Scheme. We will update you in six months or on the conclusion of the Enforcement action (whichever is sooner) about whether your complaint will remain deferred. Yours sincerely Dean Harwood Complaints Manager
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Post by tomujain on Feb 15, 2022 19:07:13 GMT
Any news on this? FCA seem to have been eerily quiet on this for a while.
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taffy
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Post by taffy on Feb 16, 2022 14:38:41 GMT
I received the same email on the 23 August 2021. The six month period will be up on the 23 February 2022, a week from today. So, all will be revealed (or possibly not). The irony in my view is that I would never have invested a penny in any of the P/P sites had they not been promoted as "Authorised and Regulated by the FCA" and in the case of ISA investments, approved by HMRC no less. The FCA allowed itself to be used as promotional material for fraudulent companies, absolutely disgraceful that they now seem to step back from their liabilities. On a brighter not, and a major plus for investors, property prices have risen over 10% in the past two years. Combined with F.S conservative valuations and safe fractional loans there should be significant higher returns for investors. (I really shouldn't have stopped taking those prescribed pills!)
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Post by portlandbill on Feb 23, 2022 12:32:29 GMT
As 6 months have gone by since the FCA wrote to me saying they'd be in touch within 6 months (they haven't), I've written to them again to ask what's going on. I won't hold my breath....
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ilmoro
Member of DD Central
'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
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Post by ilmoro on Feb 23, 2022 13:19:41 GMT
As 6 months have gone by since the FCA wrote to me saying they'd be in touch within 6 months (they haven't), I've written to them again to ask what's going on. I won't hold my breath.... Next (inevitable) deferral is due today, so I'm sure it's whizzing through the ether as we speak
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