Tuesday, 9 August 2016

Smoke mirrors and total lack of any transparency - it's all a bloody mess

When false information is issued from the horse's rear end, then we are all in a real mess.

This article from 2013 in the Crowdfund Insider illustrates the problem

The article states - 

UK equity crowdfunding site Crowdcube announce the successful funding of two companies listed on their site today.  Bike Leasing which successfully raised £80,000 for 16% equity in the corporation by receiving support of 46 investors.  The A shares were listed at £7,500 each.'

The filed accounts and AR at CH show this company has only two shareholders - the founders. So despite what the Crowdcube PRing department were issuing in 2013, this company was not funded on Crowdcube. How many more PRing fibs are there out there? Our guess from the evidence we have uncovered so far is a lot. It's clear now that what Crowdcube were doing in 2013 would now be stopped by the FCA. So do we have to wait another 3 years for the FCA to wake up to what Crowdcube are doing now - or could they actually do something now?

It's an eternal circle of not truths and it all adds up to one hell of a mess. What are the FCA doing about it? Absolutely nothing.

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