According to a filing with Companies House, MJS Capital plc has changed its name to Colarb Capital plc.
Over the past year, a number of investors have complained via comments on this blog and other online forums about MJS Capital failing to repay their bonds when they fell due. A common theme is MJS Capital negotiating a payment plan for the repayment of matured investments, which MJS then also fails to meet.
In June 2018 MJS / Colarb disclosed in its September 2017 accounts that it had experienced banking issues, with banks either freezing its accounts or refusing to allow it to open new ones.
Non-executive director Lord Razzall CBE resigned from the company in March 2018, saying in his resignation letter that he hoped his removal from the board would resolve MJS Capital’s banking problems.
MJS also disclosed in their accounts that they used a company set up by a former director (Martin Westney), imaginatively named MJS Cap Limited, in another attempt at resolving its banking issues.
From the ongoing complaints by investors, it does not appear that either measure has achieved much.
In June and July 2018 there was a brief flurry of promotional activity by MJS on Medium and Twitter but the company has since appeared to fall silent.
MJS / Colarb Capital managing director and owner Shaun Prince previously incorporated a company under the name Colarb Holdings Limited in December 2017. Exactly what Colarb is supposed to mean is unclear, although “arb” may relate to MJS’ underlying investment in arbitrage, while “col” could refer to “collective” or “collateral”.
At time of writing MJS Capital’s previous website (mjs.capital) is down. A search on Google for an official Colarb-branded website produced no results.
What are the steps then to at least make contact with someone at MJS/Colarb , how do you go about getting money back from them ! pls help , Michele
Try calling Solent House, their trustees, on 0207 138 1086. Good luck !
has MJS got a new email address?
https://www.google.co.uk/amp/s/www.standard.co.uk/business/business-focus-where-s-our-money-the-libdem-peer-and-a-bond-that-left-naive-investors-in-a-panic-a4002541.html%3famp
Having been given assurances again that liquidity was improving and payments would start last week, has anyone out there actually been paid recently? Me, not a dime!
I am in the same boat very unprofessional they should be struck off and all their invested money paid out to investers I know for a fact they have £26 000 000 in one account alone which they are waing to receive but when move in FCA sort investers out and then collect the remainder
I think a lot of people would like to know how you know that for a fact…
I have tried to transfer bonds, nothing. I have tried to speak to somebody for months, nothing. This Co. are using our money and treating us with contempt.Solent House trustees what are they hiding? They gave me a satisfactory explanation, data protection!!! I think as a group we should move forward. As a start probably the fraud squad. If we keep wandering nothing is going to happen. Peter
All the investors in this company , we should unite as a united force to take positive actions. .i have been informed last friday ,the company is in liquidation action taken by a court.
Have a look at facebook MJS action group….over 100 of us there.
Also an investor with mjs who has now been liquidated by the court in feb 2019 following an application by some investors. Saun Prince behaviour towards investors has been very bad. I have appointed a legal firm to go after them
My investment matured end September 2018 I gave them a months notice that I wanted the capital, to date I have received nothing, no capital or quarterly payments which are outstanding, due to lack of payment of the capital
I think this investment owes me £70,000
Hi Brev I read somewhere in the bond review that according to article???? … these bonds were miss sold to certain investors who were classed as “Sophisticated investors” but due to their low investments it was not correct can you remember what the article number is ? according to financial regulations ? tried to search and could not find it again I think someone wrote this in the bond review around Sept/Oct 2018
Possibly this article from the end of November? https://bondreview.co.uk/2018/11/30/mjs-colarb-capital-in-the-eveaning-standard-ceo-shaun-prince-claims-all-our-investors-are-fine-calls-them-liars-and-blames-them-for-investing/
Whether you are a sophisticated investor doesn’t depend on how much money you invest. There are two types of sophisticated investors in UK regulation, certified and self-certified. A certified sophisticated investor must be certified by an FCA-authorised person and sign a statement. A self-certified sophisticated investor doesn’t need to be certified by an FCA-authorised person, but they must confirm that one of the following applies to them: 1) member of a business angels network, 2) recent investor in another unlisted company, 3) private equity or SME finance professional, or 4) director of a company with an annual turnover of at least £1 million.