Browsing All Posts filed under »Uncategorized«

FCA on the ropes: your chance to land a punch

January 24, 2016


Connaught victims may have seen the House of Commons Adjournment Debate on 12 January. The Chairman of the Connaught All-Party Parliamentary Group, Guto Bebb, and MPs who’ve been following the case made some highly pertinent points and raised crucial questions about this long-running case. The Minister looked distinctly uncomfortable delivering a response that was clearly drafted […]

Urgent: Please contact your MP

November 5, 2015


The Action Group believes that the outcome of our claim against Capita now sits on a knife-edge. Will the Financial Conduct Authority continue to protect the people who made the scam possible, then covered up and walked away when the realised what they’d done? Or will it throw the book at them (and force them […]


July 16, 2015


You doubtless heard that the Financial Conduct Authority-intermediated negotiations between the Fund’s hapless Operators and the liquidators fell apart in March, after nine months and countless hundreds of billable hours of fruitless discussion. What you’ve heard about the reasons for the break depends on who you are. If you’re a politician, you’ve probably been fed […]

The Calm Before the Storm?

September 16, 2014


Things have been quiet of late on the Connaught front. Back in July we all heard that the FCA offered to mediate negotiations between ‘the parties involved’; it subsequently emerged that the regulator had set a deadline of 31 October for agreement to be reached. Since then, we’ve heard nothing. While we await the outcome […]

MPs, Minister debate Connaught fund failure

May 9, 2014


Members of Parliament and the newly appointed Economic Secretary to the Treasury, Andrea Leadsom, yesterday debated the failure of the Connaught Income Fund and the roles of Capita plc and the Financial Conduct (previously Services) Authority in its failure. Vale of Glamorgan MP Alun Cairns, who leads the informal All-Party Parliamentary Group (APPG) and called […]


May 1, 2014


Since yesterday’s email went out, we’ve heard that the public gallery at Westminster Hall, where the Parliamentary debate about the failures surrounding the collapse of the Connaught Income Fund Series 1 will take place at 11am on Wednesday 7 May, is really tiny. Apparently it can accommodate only around 20 people. We’re keen that researchers […]


April 30, 2014


Are you free next Wednesday morning (7 May)? If so, and if you possibly can, please join us and other investors at Westminster Hall, in the Palace of Westminster, where Alun Cairns MP, who with colleague Guto Bebb has founded an informal All-Party Parliamentary Group representing the interests of Connaught investors, has called a debate […]


April 18, 2014


We hear that investors recently received correspondence from Duff and Phelps asking them to assign their rights to litigate over certain aspects of the promotion and operation of the Fund that can only be brought by investors, rather than the Fund itself. We believe it is ABSOLUTELY VITAL that ALL investors act on this request […]

Connaught in the news

January 26, 2014


The plight of investors in the Connaught Income Fund Series 1 was highlighted by two major UK media today (Friday, 24 January). Both the Daily Mail ( and BBC Radio 4’s You and Yours programme ( reported our concerns about Capita’s actions in concealing Connaught Chairman Nigel Walter’s central role in the UK Land Investments […]

URGENT: Help us to help you

October 5, 2013


The Connaught Action Group is asking all investors in the Connaught Income Fund to help us help you get your money back. Last February, some investors were approached by BBC Panorama in connection with an edition that was to expose instances of British savers, especially pensioners, losing money when investment schemes went wrong. An investor […]

The Duck that Laid the Golden Egg

July 16, 2013


Here in the States, we like to say, ‘If it walks like a duck, and talks like a duck… must be a duck!’ You Brits are sticklers for detail, so you’ll probably say there are members of the anatidae family that walk and talk much like ducks, but in fact belong to other species of […]

Was the FSA misled and did certain parties fail to give vital information to the FSA?

June 24, 2013


We have pointed out that Tiuta’s regular financial returns to the FCA must have been grossly misleading. The books were cooked. It looks like the FSA was misled over a considerable period as to Tiuta’s true financial position. George Patellis called in BDO to advise Tiuta plc in January 2011 because he discovered it was […]

Poor Record of the UK in Combatting Corporate Fraud

June 24, 2013


We have been saying on this website for some time that the UK lags well behind the USA in combatting corporate fraud. Now, even the politicians in the UK are waking up to this fact. We re-produce here an article written by Emily Thornberry, MP, Shadow Attorney-General which appeared in “The Times” (of London) on […]

Warning : Do Not Deal with Mawdsley

May 21, 2013


1. Alistair Mawdsley is back in business promoting an EIS investment to IFAs; 2. We suggest that IFAs should not deal with him as he has a history of misleading them, notably his gross misrepresentations concerning the financial position of the Connaught Income Fund, Series 1; 3. We are given to understand that Mawdsley is […]

Panorama update

March 29, 2013


Investors may already have seen reports that the edition of Panorama exposing those to blame for our losses has been delayed due to a complaint received by the BBC from twice-bankrupt former double glazing salesman Dave Ames. His company, Harlequin Property, allegedly took investors’ money to build luxury properties in the Caribbean without the necessary […]

Panorama delayed

March 23, 2013


We hear that the Panorama edition planned for next Monday (March 25th) will be delayed for 2-3 weeks for operational reasons. Watch this space for news of the new transmission date and time.

The Great Savings Wipe Out

March 20, 2013


We hear that investors’ complaints over the inaction of Capita and the FSA are due to get much-needed publicity in an edition of the BBC’s flagship investigative programme Panorama due to be broadcast at 8.30pm next Monday (March 25th). The programme, entitled The Great Savings Wipe Out, is presented and produced by the award-winning combination […]

URGENT: Complaints to MPs

February 26, 2013


The Action Group would like to hear from investors who’ve complained to their MPs about the Fund. Specifically, we’d like to know whether or not you are happy with the way your MP has responded to you after he or she has contacted the FSA on your behalf. A letter was recently forwarded to us […]


February 10, 2013


The Action Group urgently seeks investors who put pension money into the Fund and are willing to appear on a well respected British investigative television documentary talking about their experiences. To qualify you must be able to say yes to the following three questions: 1. Your SIPP (Self-Invested Personal Pension) or SSAS (Small Self-Administered Scheme) […]

Claims against IFAs

February 6, 2013


The Action Group has been contacted recently by several investors who are contemplating claims against their IFAs for “misselling” the Guaranteed Low Risk Income Fund (subsequently renamed the Connaught Income Fund Series 1). There are severe difficulties with making claims where the cause of loss for investors is fraud and the scheme was a Ponzi scheme. We […]