ozboy
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Post by ozboy on Feb 17, 2020 14:27:46 GMT
loftankerman posted this under a Lendy topic a little while ago and IMHO it's a very interesting and worthwhile avenue to investigate and pursue if appropriate:- ".................... American issues intrigue me and from time to time I have wondered if Lendy have any suffering investors in the USA. The reason being that my limited grasp of what goes on suggests that any persons investing online from the USA and feeling hard done by, might have a chat with the folk in the J. Edgar Hoover Building on the topic of wire fraud. It can involve eye watering fines and depending on circumstances carry up to 20 or 30 years behind bars. This could of course all be a just a misunderstanding on my part and I stand ready to be corrected."
This is just the sort of stuff we want to hear and see, we know that the Piss Poor UK "Authorities" here will do Football Association.
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puddleduck
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Post by puddleduck on Feb 17, 2020 16:32:57 GMT
This is a red herring.
For someone to be prosecuted in the USA they would have to be extradited. And for extradition, the bulk of any alleged 'fraud' (or indeed any other crimes) would need to have been carried out in the USA.
The nationality of the person is irrelevant here - and we should not encourage or hope for judicial overreach.
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ozboy
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Post by ozboy on Feb 17, 2020 16:49:51 GMT
Fair enough.
We should still leave no stone unturned though, and explore ALL possibilities [EDIT] ..........for prosecutions.
I don't think anyone on here wants to see any Perpetrators wandering off, scot free, with our money, and laughing.
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Godanubis
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Post by Godanubis on Feb 17, 2020 18:21:37 GMT
This is a red herring. For someone to be prosecuted in the USA they would have to be extradited. And for extradition, the bulk of any alleged 'fraud' (or indeed any other crimes) would need to have been carried out in the USA. The nationality of the person is irrelevant here - and we should not encourage or hope for judicial overreach. Correct and for anybody anywhere to be prosecuted there has to be an actual crime and not just a lower return than predicted.
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ozboy
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Post by ozboy on Feb 17, 2020 18:29:21 GMT
This is a red herring. For someone to be prosecuted in the USA they would have to be extradited. And for extradition, the bulk of any alleged 'fraud' (or indeed any other crimes) would need to have been carried out in the USA. The nationality of the person is irrelevant here - and we should not encourage or hope for judicial overreach. Correct and for anybody anywhere to be prosecuted there has to be an actual crime and not just a lower return than predicted.Give us all a break Godanubis, just for ONCE.One instance, and our favourite FS Chestnut, what do you call it if someone states they definitely saw something, when it is proven it wasn't ever there, to induce more investment?
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Godanubis
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Post by Godanubis on Feb 17, 2020 18:41:58 GMT
Correct and for anybody anywhere to be prosecuted there has to be an actual crime and not just a lower return than predicted.Give us all a break Godanubis , just for ONCE.One instance, and our favourite FS Chestnut, what do you call it if someone states they definitely saw something, when it is proven it wasn't ever there, to induce more investment? I’ll leave that up to the actual regulators and law enforcement to decide. When and if found to be unlawful then prosecute the individual(s) responsible and sanction overseers for missing it. criticising a whole organisation which undoubtedly employs hard working individuals that have done no wrong is disproportionately unfair. Get the facts punished or seek restitution from the perpetrators.
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adrian77
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Post by adrian77 on Feb 17, 2020 19:34:20 GMT
True but that it not what we are doing - we are justly criticising gross FS management failings- they have not been exactly honest about numerous things e.g. Whitehaven, they have been egregiously incompetent e.g. art loans,they have bent the truth e.g. not told the valuer about the roof problem for the Tower Block and don't get me started about the speed boats, they are or were involved with providing development funding and there are numerous posts about what seems to be connections between the FS directors and some of OUR funding loans.
They have published valuations which have more fantasy than Walter Mitty and are clearly clueless about how property development works in the real world - they have clearly been had by devious developers numerous time.
They have taken our money without even setting up proper winding down procedures - numerous loans have already taken a hammering with 100% losses e.g. Park Homes and they are some real belters to come e.g. Lytham St Annes. These muppets are called Ffunding Secure - the idea was they lent against secured assets - well call me stupoid but I don't regard lending 2.3m against a glorified IOU when half-cut against paintings which they don't even know where they are as secure lending - this shower are beyond a bloody joke.
At best I think they planned to "fake it whilst they made it" and then to float and make a killing well that is not going to happen. As many of us said would happen their business model has proven to be totally flawed and they have not even apologised but simply run away from facing we investors.
If the management were so bloody wonderful then why are we in the mess with many of us expecting 50% overall loss or worse!
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Godanubis
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Post by Godanubis on Feb 17, 2020 22:53:08 GMT
True but that it not what we are doing - we are justly criticising gross FS management failings- they have not been exactly honest about numerous things e.g. Whitehaven, they have been egregiously incompetent e.g. art loans,they have bent the truth e.g. not told the valuer about the roof problem for the Tower Block and don't get me started about the speed boats, they are or were involved with providing development funding and there are numerous posts about what seems to be connections between the FS directors and some of OUR funding loans. They have published valuations which have more fantasy than Walter Mitty and are clearly clueless about how property development works in the real world - they have clearly been had by devious developers numerous time. They have taken our money without even setting up proper winding down procedures - numerous loans have already taken a hammering with 100% losses e.g. Park Homes and they are some real belters to come e.g. Lytham St Annes. These muppets are called Ffunding Secure - the idea was they lent against secured assets - well call me stupoid but I don't regard lending 2.3m against a glorified IOU when half-cut against paintings which they don't even know where they are as secure lending - this shower are beyond a bloody joke. At best I think they planned to "fake it whilst they made it" and then to float and make a killing well that is not going to happen. As many of us said would happen their business model has proven to be totally flawed and they have not even apologised but simply run away from facing we investors. If the management were so bloody wonderful then why are we in the mess with many of us expecting 50% overall loss or worse! Loans that were 100% loss were all second or more charges, Whitehaven was probably borrower fraud and is still active after part payment. I am quite sure FCA which was involved prior to administration will highlight any unlawfulness. Proper wind down arrangements were not illegally required until December last year. Loans etc to directors are part of tax avoidance usually and not necessarily unlawful whither moral or not. Plenty of things that can be unsavoury are not necessary illegal in this big bad unfair world. I agree full punishment should be visited on any criminals either management or borrowers.
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adrian77
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Post by adrian77 on Feb 17, 2020 23:09:42 GMT
FS told us there was a roof frame for Whitehaven - this "borrower fraud" gonads really annoys me - FS have only got themselves to blame if they allowed themselves to be duped for not validating what was happening with OUR money.
So losing 100% because it is not a first charge is OK is it - there is time yet for that to change! That said Whitehaven was pretty damn close to that
not according to my research - any legal beagle able to comment
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ilmoro
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Post by ilmoro on Feb 18, 2020 0:24:10 GMT
FS told us there was a roof frame for Whitehaven - this "borrower fraud" gonads really annoys me - FS have only got themselves to blame if they allowed themselves to be duped for not validating what was happening with OUR money. So losing 100% because it is not a first charge is OK is it - there is time yet for that to change! That said Whitehaven was pretty damn close to that not according to my research - any legal beagle able to comment They aren't illegally required now.
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duck
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Post by duck on Feb 18, 2020 4:35:41 GMT
...... not according to my research - any legal beagle able to comment I'm not a legal beagle but I do have this from the FCA No definition of reasonable steps and no funding requirement. Typical woolly wording. Not sure how this ties in with the FCA's core principal of protecting consumers.
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jonno
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Post by jonno on Feb 18, 2020 9:15:10 GMT
I really can't believe this puerile,pathetic,depressing "conversation" with Godanalbis has recommenced  |
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