Fortitude’s Ajaz Shah accused of abusing ex with hot iron, under house arrest in Italy

Ajaz Shah, owner of the unregulated investment scheme Fortitude Capital, has been arrested in Italy and accused of a vicious campaign of violence and abuse against his ex girlfriend.

As reported by the Daily Mail:

A millionaire City trader has been placed under house arrest in Italy after a court heard he had allegedly beat up his ex-girlfriend and threatened to burn down her home by setting his Lamborghini sports car on fire.

Ajaz Shah Hussain was held by police in the Italian resort town of Rimini after also allegedly threatening to release a sex tape he had made with her, according to authorities.

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Buy2letcars group posts 2019 accounts, group now £10.9 million in the red

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The Buy2Letcars group of companies, consisting of Buy 2 Let Cars Limited (which borrows money from investors promising returns of up to 11% per year), Wheels 4 Sure (which uses the money to lease cars) and Raedex Consortium Limited (parent holding company) have all filed their accounts for the year ending December 2019.

The accounts have been filed using small company exemptions and did not include profit and loss accounts, and were unaudited. They therefore contain limited information.

What little we do know includes that the overall group has continued to lose money (as it did in 2018 and 2017). Raedex Limited shows net liabilities expanding from £9.5 million in 2018 to £10.9 million in 2019, while the "retained profits" line fell from minus £14.1 million to minus £18.1 million (suggesting losses of around £4 million over the year).

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Treasury announces further compensation scheme for LCF investors

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Shortly after the release of the Gloster report into the FCA's failings over London Capital & Finance, the Treasury announced that it would announce a scheme to compensate London Capital & Finance bondholders... maybe.

Taking into account the various channels through which people affected can seek compensation, the government will… set up a scheme to assess whether there is a justification for further one-off compensation payments in certain circumstances for some LCF bondholders.

John Glen, Economic Secretary to the Treasury

"Various channels" is a reference to the essentially random basis on which the Government has paid out compensation to LCF investors so far.

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Fluid Trust plc (Fluid ISA) subject to strike-off notice

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Fluid Trust plc has been issued with a strike-off notice by Companies House after failing to file up to date annual accounts since September 2020.

Unless the company files its accounts, or a creditor or other third party successfully objects to the striking-off, Fluid Trust plc will be removed from the register and all its assets will become legally property of the Government (though this can be reversed).

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Minerva Lending plc in default of repayments to investors

Minerva Lending plc has been in default of series C1 and series C2 loans owed to its investors since July 2020, according to reports filed with the Irish Stock Exchange. The bonds were repayable this year.

As stated in the prior announcement, the cause of the delay is that the underlying borrowers have failed to repay loans due for repayment on 30 June 2020.

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London Property Bonds (now LP Bonds plc) given strike-off notice, accounts overdue

A year and three months after it fell overdue with filing its November 2018 accounts, LP Binds plc (formerly London Property Bonds) has been issued with a strike-off notice by Companies House.

If the company continues to fail to meet its legal obligations and there are no objections, the company will be struck off the register and all its assets will be forfeited to the Government.

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