View more on these topics

Scam property fund wound up

The High Court has wound up a scam property fund that took £880,000 from investors and promised returns of up to 51 per cent a year.

The FCA says the fund was wound up earlier in April at its request and a liquidator appointed to investigate Hermay’s activities. It says the firm had been accepting deposits from consumers without its authorisation.

The FCA suspects Hermay ran a scam property fund claiming guaranteed returns of up to 51.5 per cent after one year. It is understood there were 25 investors. The FCA says: “The liquidator will contact affected investors to confirm if any money can be returned to them once this investigation is complete.”

Recommended

CaptionCompetition290415

Caption Competition – 29 April 2015

Can you put the boot into your nearest and dearest to win a delicious box of Hotel Chocolat milk chocolates? Submit a witty caption for the photo above and you will be automatically entered into our prize draw. Remember, the funnier it is, the more likely you are to win. What are you waiting for? […]

Handshake-Business-Finance-Deal-Corporate-700.jpg

NACFB and Hitachi in pilot for commercial apprenticeships

The National Association of Commercial Finance Brokers is piloting its first-ever apprenticeship scheme in collaboration with Hitachi Capital Business Finance. In the first year, only one candidate will pass through the scheme, although more may be put through training once the pilot has completed. HCBF will cover the cost of the training, which will include […]

Money-Notes-Currency-GBP-700.jpg

Average buy-to-let fixed-rate deals fall by up to 50 basis points

Average buy-to-let fixed rates have fallen by up to 50 basis points over the past year, according to Moneyfacts.co.uk. Data shows the average buy-to-let two-year fixed rate has fallen from 3.94 per cent a year ago to 3.45 per cent now. Two years ago the average was 4.44 per cent. The average five-year fixed rate […]

Book

Media Spotlight: The Politicos Guide to the 2015 General Election

With just days until polling day, the general election is looking no easier to call. And whether you are a political geek seeking in-depth analysis of the most unpredictable election in 20 years, or a swing voter trying to make up your mind, The Politicos Guide to the 2015 General Election is a good place […]

Newsletter

News and expert analysis straight to your inbox

Sign up