Andrew, listen to what we are saying and how we do it,” he said. “We are not making 27% from NHS staff, we are not doing that.” We have engaged with the firm on a number of occasions with regard to regulatory issues, including the structure of its business and its financial viability. This has culminated in the action we took on Friday 19 February 2021. The company had described the decision as “bizarre” and accused the watchdog of putting jobs at risk. This form of investment is not regulated, so investors do not have recourse to the Financial Ombudsman. But the FCA can prevent the company from arranging new leases and has now wielded its power to do so.

A man who "practically fell out of his car" when stopped by police and tried to challenge the accuracy of a breathalyser test after he was found to be more than three times above the drink drive limit has been given a suspended jail sentance. The administrators are also trying to establish who owns a Rolls-Royce that somebody was apparently swanking around in. Even though a business with a couple of million in turnover at most and continual losses doesn’t exactly scream “Rolls Royce lifestyle”. The coronavirus pandemic has forced many lenders to revisit their risk mitigation strategies. But at Buy2LetCars, no changes are required. In fact, their risk mitigation strategy could almost have been designed with the pandemic in mind. Their leasing arm only leases cars to key and essential workers who are unable to access mainstream credit.

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The directors assure me that there’s nothing for investors to worry about because the figures give an unfairly bleak picture of the business by not recognising the value of its contracts to lease cars. The FCA said the company claimed to own 1,200 cars but that there were question marks over these assets.

Sergeant Pascoe said the outcome of the trial was proof "you cannot get away with" drink driving and that it puts lives at risk. Read More Related Articles Your investment helps NHS staff like Chipo get to and from her job in a brand new and reliable vehicle,” ran one of its Facebook posts, while another said: “Keep key workers, just like Andrew, on the move by investing with Buy2LetCars!” The administrators are now evaluating the current financial position and options for each of the Raedex Group companies. They will seek to achieve the best outcome for each company’s creditors as a whole. A member of the public called police after they saw Reginald Larry-Cole, 48, driving erratically in the M3 between junctions 2 and 3 at 12.30am on December 21, 2017. In a statement, the FCA said the directors had appointed administrators after taking “further financial accounting advice”.No way on earth are these investors, who seem to be putting 10k building society money crossing that line. https://www.thesun.co.uk/money/8324176/i-was-on-benefits-and-wanted-to-die-but-i-turned-it-around-and-now-run-4-3million-car-finance-business/

Think about what you want to do with this: Once you’ve found your passion, you should figure out what you want to do with this. You need to have a clear vision. https://bondreview.co.uk/2021/05/21/buy2letcars-investors-invested-in-cars-which-didnt-exist-administrators-confirm/ All of these tragic stories boil down to one basic point: people allowing their judgement to be clouded by self-interest. People believe things because they want to believe them. The prospect of a 10% or 15% return is so tempting that their critical faculties switch off. Likewise, the idea that one can ‘beat the market’ or achieve some exclusive reward denied to ordinary people is itself a tantalising reward. Fraudsters know this, and they know the serotonin buzz that people get from feeling they are about to make a killing. They exploit all these factors to lure in their victims and persuade them to part with vast sums of money. As part of the investigation, the SFO, the National Crime Agency (NCA) and the City of London police searched two premises in connection to the scheme and arrested one person on Thursday 8 April.Despite the state we found him in, a roadside breath test which showed he was three times the limit and an evidential reading in custody showing that he was nearly four times the limit, he denied the offence and forced a trial on the basis that our equipment was faulty and that we had not followed proper procedure. It is important to note that our initial investors took a risk on us, for which we are incredibly grateful. Launching and running the business involved a lot of trust from them, and that trust meant the business could be possible.’ The arrest came after the Serious Fraud Office (SFO) launched an investigation into Raedex Consortium for running an unauthorised customer investment scheme. The supervisory notice concluded: "The Group is continuing to market its investment opportunities through a wide range of online and other media and is continuing to seek and take in consumer funds. The FCA considers that the financial position of the Firm and the Group makes the Firm’s business model fundamentally unsustainable and places consumers who invest money at direct risk of loss."