duck
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Post by duck on Oct 14, 2022 10:36:39 GMT
After a fair number of FOI's and Emails the FCA have confirmed to me
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adrian77
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Post by adrian77 on Oct 14, 2022 10:42:21 GMT
In a word I think this is total GONADS!
When I worked in a bank there was all sorts of regulations regarding money lending which including being pro-active in ensuring money laundering regulations were adhered to- or maybe these no longer apply - yeah right
This reply (which yet again is non-committal) is the most pathetic I have heard for a long time
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duck
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Post by duck on Oct 15, 2022 9:01:28 GMT
When I worked in a bank there was all sorts of regulations regarding money lending which including being pro-active in ensuring money laundering regulations were adhered to- or maybe these no longer apply - yeah right Published yesterday. FCA fines Gatehouse Bank £1.5m for poor anti-money laundering checks.Whilst I used FS as an example in my FOI's to the FCA which they declined to answer my interest is more general and involves 'onshoring' of offshore funds via loans. I am not alleging that this happened with FS but it was a useful example to use where offshore loans were made to a UK (regulated) company.
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adrian77
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Post by adrian77 on Oct 15, 2022 10:26:11 GMT
very interesting point which I never considered i.e. get dodgy money - slap it offshore and then get a "legit" UK loan against it
Like you I am not saying this has happened here but what I am saying is that the FCA response a question regarding the management of our money was pathetic.
And to think their ex-leader now runs the BoE!
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Mousey
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Post by Mousey on Oct 15, 2022 10:37:29 GMT
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duck
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Post by duck on Oct 15, 2022 11:12:20 GMT
Indeed and as you know Mousey the FCA avoided questions that would have had a relevance here.
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duck
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Post by duck on Oct 15, 2022 11:25:59 GMT
very interesting point which I never considered i.e. get dodgy money - slap it offshore and then get a "legit" UK loan against it ..... It is far more common than you might think especially where the onshore and offshore entities are controlled by the same person/family. The FCA are of course not involved in these loans unless the UK company is regulated (hence my use of FS for my initial investigations). If you trawl Companies House you can find some very suspicious multi million pound loans from offshore companies that are often 'settled' very quickly even when the companies involved don't appear to run a cash surplus. If you look closely you might even find the names of family members of very senior MPs. (One MPs wife uses 3 names on CH) Obviously there are no tax implications or benefits from taking this route. But it seems the FCA are not interested in tax implications or even when the loan makes a material change in the way in which a regulated entity might be operating.
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aj
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Post by aj on Oct 18, 2022 8:31:18 GMT
So, a quick situation update:
I have confirmed I wish to be joined to proceedings but have declined to send my personal financial information to Boodle.
I have offered them a fair exchange; they send me their clients FS account info and I will provide mine; however this has been ignored. Boodle have also declined to confirm that I will be joined to these potential legal proceedings (if they ever materialise).
Has anyone that provided Boodle with all the details they requested heard more about this potential claim than me? I can only imagine the legal bills for this pointless action are creeping up for poor old Ringo Starr...
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iRobot
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Post by iRobot on Feb 4, 2023 21:22:09 GMT
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adrian77
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Post by adrian77 on Feb 5, 2023 11:40:03 GMT
- I should cocoa!
Tried to read the Law Journal report but just haven't the time to try and understand it
In non legal terms there is one word I would decribe why this Quistclose claim was raised and it begins with an "F" ...
However much is it going to cost barrsisters opining how clever they all are whilst they debate what is actually going on here in legal terms?
Can somebody please tell me how I can access the lasted CG quarterly reports as I need cheering up!
I thank you
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iRobot
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Post by iRobot on Feb 5, 2023 12:37:02 GMT
In non legal terms there is one word I would decribe why this Quistclose claim was raised and it begins with an "F" ... 'Fanciful'? CG&Co's last ½-yearly report can be found here: Administrators’ Progress Report FundingSecure Ltd - In Administration For the Period From 23 April 2022 to 22 October 2022The next update is due for publication around 23/05/2023 Quarterly(ish) loan updates are available on the FundingSecure website against each loan a Lender is in. (There is a CG&Co Portal at ips-docs.com for this Administration but, since Dec-2020, the documents available there simply mirror those available on the CompHse website.)
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adrian77
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Post by adrian77 on Feb 6, 2023 11:32:12 GMT
Fanciful'? close - also has an "a" in it...
joking aside - this forum has shown me and others just how complicated the law is in the area of debt recovery and how , heaven forbid, dodgy property developers could try it on and shaft we punters if our debts are not managed properly - personally I wonder if FS were way out of there league here and tried to get smart with the big boys i.e. the shafters themselves have been shafted - just my opinion - welcome to the business world!
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jo
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Post by jo on Feb 7, 2023 16:50:16 GMT
Fanciful'? close - also has an "a" in it... joking aside - this forum has shown me and others just how complicated the law is in the area of debt recovery and how , heaven forbid, dodgy property developers could try it on and shaft we punters if our debts are not managed properly - personally I wonder if FS were way out of there league here and tried to get smart with the big boys i.e. the shafters themselves have been shafted - just my opinion - welcome to the business world! Aided and abetted by degenerate lawyers.
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r1200gs
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Post by r1200gs on Mar 30, 2023 11:11:03 GMT
So where are we now? Whatsapp group is quiet, FB page is silent and not much here either. Our narcissistic friend has been threatening to launch his legal action "tomorrow" for quite some time now. It seems to me that he must be well aware by now that this will cost a fortune with little chance of success. How much longer are the administrators going to do precisely nothing while holding significant sums from those it rightly belongs to?
Anyone with any idea what is happening here?
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Mucho P2P
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Post by Mucho P2P on Mar 30, 2023 14:18:15 GMT
So where are we now? Whatsapp group is quiet, FB page is silent and not much here either. Our narcissistic friend has been threatening to launch his legal action "tomorrow" for quite some time now. It seems to me that he must be well aware by now that this will cost a fortune with little chance of success. How much longer are the administrators going to do precisely nothing while holding significant sums from those it rightly belongs to? Anyone with any idea what is happening here? We are chasing the administrators, who seem to be too busy to reply to us. We were expecting a reply 2 days ago.
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