Ashley Reading, left, whose daughter is dating the footballer Scott McTominay, right. There are allegations that some investors’ funds were “used for the purpose of the Reading family”
Undoubtedly such allegations will prove to be wholly and entirely unfounded.
It was an unregulated investment scheme that promoted returns of up to 18 per cent a year
Entirely and wholly.
Fortress’s borrowers included the former agent of Gareth Southgate, the England football team manager, and Kevin Maxwell, son of the late media baron Robert Maxwell.
Absolutely.
Kevin Maxwell, son of the late
media baronex-Labour MP, socialist, and employee pension fund embezzeler Robert Maxwell. TFTFY.Well, as SirKier re-iterated on tellybox last night, accusation equals proof equals guilt.
18% per annum? Definitely legit.
…ex-Labour MP, socialist, and employee pension fund embezzeler Robert Maxwell. TFTFY.
You forgot to add suspected KGB and Mossad asset…
It wasn’t illegal to borrow from company pension funds when Maxwell did it.
Unregulated, 18% returns , promoted by some bloke off the telly and a church whose home page has a lot about fund raising but no mention of God or Jesus.
I can barely hear myself think over the alarm bells. What goes through people’s minds when they hand over their life savings to these schemes?
@ Marius
Is the thought “I’m a greedy stupid twat who will whinge to the government if I get ripped off by the obvious scam and get my money back via socialised theft from everyone else”?
A bit OT, but IDS, formally Royal Mail, are trading around 325
The West Ham owner, a Czech Billionaire, who got cold feet over investing in Atos ‘cos it was going to the dogs now wants to buy IDS at 360. The board of IDS have approved, so you can buy with an expected gain of around 11%.
The only catch is whether the regulator will disallow the takeover on National Security grounds, as if there’s some IP in knowing how to deliver parcels that IDS has that former Iron Curtain countries and others don’t know about.
It does show how short term some people think, they think there is a risk the takeover will not happen, so they will happily sell at the lower price rather than wait.
Why would anyone want to buy Iain Duncan-Smith?
TDS @ 1.06. I never said it was.
“It does show how short term some people think, they think there is a risk the takeover will not happen, so they will happily sell at the lower price rather than wait.”
No, its not short term thinking, its long(er) term thinking. If you are a holder of IDS shares today you face a choice a) sell for a guaranteed £325/share in the market, b) wait for the deal to go through, get £360/share, potentially, because c) if the deal gets nixed by the regulator then the shares will probably collapse back to where they were before the bid, which is not much over £200. So if you are sitting on a fat profit from before the bid, the options are fat profit, fatter profit (but not that much fatter), no profit at all.
Similarly if you go out and buy IDS shares today yes you could hoover up an 11% gain if the deal goes through, but you could also hoover up a 30-40% loss if the deal goes pear shaped. Its like betting heavily on the odds on favourite – great when they come in, not so great when they get beat by the outsider.
Addolff,
For shame. Maxwell just wanted to ensure all the pensioners were treated equally.