2,000 Investors Lost $55 Million in Blackmore Bond Collapse, UK Regulator FCA Alleged to Have Failed to Protect Investors Despite Sufficient Evidence
18th August 2022 | Hong Kong
Around 2,000 investors had lost $55 million (£46 million) in the Blackmore Bond 2020 collapse, with the UK Regulator FCA (United Kingdom, Financial Conduct Authority) alleged to have failed to protect investors despite sufficient evidence to step in. The Blackmore Bond which was offering 10% interest per year, was setup by a marketing company for investors to invest into UK property development. In the investigation by broadcaster BBC Panorama, the “mini-bond” should be sold only to experienced investors but was sold to ordinary investors. Warnings & complaints were directed to the UK FCA in 2017 and 2018, but no actions were taken. In 2019, the collapse of London Capital & Finance caused around 11,600 investors to lose $285 million (£237 million), leading to an official inquiry and compensation for victims. View: The Blackmore Bond Scandal
“ 2,000 Investors Lost $55 Million in Blackmore Bond Collapse, UK Regulator FCA Alleged to Have Failed to Protect Investors Despite Sufficient Evidence “
BBC Panorama The Billion Pound Savings Scandal Trailer
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