1336 days ago
Just under four years ago I exposed the perilous finances and smelly related party loans of Money & Co, the Peer to Peer lending operation of Nicola Horlick, the ghastly self-promoter previous dubbed Superwoman. It was clearly on the rocks & engaging in some very Spanish practices then and the FCA should have moved in. But it did not.
1578 days ago
Well you have been warned repeatedly by myself for almost a year as was the FCA which, natch, did nothing. Wellesley Finance has finally filed its 6 months overdue accounts for the year ended 31 December 2018 at Companies House and they are truly dire. The net loss before tax is £10,249,314 and a deficit on shareholders’ equity was £9,202,737. The auditors, unsurprisingly, cite a material uncertainty on going concern. Worrying times for the mini bond lenders who have lent £99,540,212 to Wellesley Finance Plc. A further £64 million in Peer to Peer assets is held off the balance sheet.
