Bentley Global has been issued with a strike-off notice by Companies House after failing to file up to date annual accounts since May 2020.
Unless the company files its accounts, or a creditor or other third party successfully objects to the striking-off, Bentley Global will be removed from the register and all its assets will become legally property of the Government (though this can be reversed).
Bentley Global raised £4.8 million from bonds paying up to 20% per year which were promoted by former Manchester City and England midfielder Peter Reid, as well as an unregulated introducer who claimed that “security is a key element” for its inherently extremely high risk bonds. Money raised was to be used to bet on football using Bentley Global’s “Algo88” algorithm.
Bentley Global claimed in investment literature that it would provide “fully audited” performance figures. Not only has it not done this (at time of writing, its website still shows some backtested – i.e. simulated – results from 2013-2017 rather than actual past performance) but it hasn’t even managed to comply with its legal duties to file at least some sort of annual accounts for the year ending August 2019. Failing to file annual accounts on time is a criminal offence under the Companies Act.