Is this a warning? (£236m collapse of London Capital & Finance)

[AsleepInYorkshire]

Sorry if I've got the wrong board. Not entirely sure.

https://www.bbc.co.uk/news/uk-england-47454328

I hasten to add I am not suggesting that anyone caught up in this firm was or is foolish. It does seem to suggest though that there's always an inherent risk with investment planning.

I would suggest, quite humbly given the personal pain some are experiencing, that the first rule of any investment strategy has to be one of capital preservation?

AiY

[JohnB]

That is rather vague blogging, both in the title and posting a bald link with no explanation

[dspp]

It is about the collapse of London Capital & Finance, which many consider to be nothing short of a £236m scam.

I have crossposted to the under-used Catastrophe Corner, and I fully agree with the OP's sentiment on this.

https://www.lemonfool.co.uk/viewforum.php?f=75

regards, dspp

[PinkDalek]

It was posted earlier today at Bank Accounts Savings & ISAs:

https://www.lemonfool.co.uk/viewtopic.php?f=11&t=16667

[Alaric]

I would suggest, quite humbly given the personal pain some are experiencing, that the first rule of any investment strategy has to be one of capital preservation?

Investors were being offered cash ISAs with interest rates much higher than Banks and Building Societies. You use a cash ISA with the intention of capital preservation.

The scheme looks basically fraudulent and on the face of it, the system of investor protection as policed by the FSA has failed. Perhaps the FSA will be able to take retrospective action against those who promoted and approved the advertisements.

[csearle]

Moderator Message:
For the sake of tidiness please can we concentrate the discussion here? Thanks. - Chris