LSE listed Venture Capital Trusts - the ultimate PONZI scheme.

  https://www.thetimes.com/business-money/companies/article/octopus-titan-hit-by-297m-in-writedowns-and-write-offs-vkpmqlh36 https://www.ft.com/content/6c9b0a99-efd8-407b-ac9f-5c8a40a7b09f Copy for those without subscriptions at  https://app.box.com/s/di4jkzgj6rh7mcftzsj021p2nhax3ph2 “However, dividends are ordinarily a distribution of investment gains (of which a material proportion should be realised rather than unrealised), which have not been achieved over the six-month period ended in June 2025 or in recent years.” What a load of tosh! The analysis is just starting. Octopus does not start with clean hands. See Companies House records of Titan and Apollo when the Directors lied about merger shares issued.  Good job there is a shareholder meeting on Monday 13 October 2025. I will be there.

Not only are the Albion VCT scams riddled with fraud and criminal misconduct by the Directors and Investment Manager, but the whole "industry" is shown by HMRC to be a rip-off on UK taxpayers as proved by HMRC's own numbers Invested in start-ups (initial and follow-on)          Cost to tax payer EIS:                                                  £1,575m                         <£473m* SEIS:                                                 £242m                           <£121m ** VCTs:            ...

Food for thought from Bloomberg 23/9/25 Some PE Firms Doomed to Fail as High-Flying Industry Loses Its Way Private equity’s reckoning has frustrated investors waiting longer for payouts, forcing firms to scale back fundraisings, offer secondary exits and diversify   https://www.bloomberg.com/news/features/2025-09-22/private-equity-firms-fundraising-stumbles-after-high-flying-era copy at:  https://app.box.com/s/ikfmajc3cwloh3xfieygn7qikl8mtow0 Don't get me wrong, EIS and SEIS schemes are a great idea and well worth the costs to HMRC for the  promotion of long term investment and the years it takes for start-ups to become dividend paying, but VCTs are, and always have been, a scam too far. The only thing keeping VCTs alive is the endless self-promotion by the law-breaking Investment Managers, VCT Directors and the fee-gouging solicitors and accountants advertising that HMRC will pay you £1m as their primary marketing tool. Just look at the decades long real terms negative N...

 Remind anyone of the essence of the VCT valuation scams? https://taxpolicy.org.uk/2025/09/18/carter-ruck-onecoin-fraud-coverup/ I wonder what the SRA and SDT will make of Howard Kennedy's involvement - the "we will get back to you within 9 weeks" clock is running. You should see the latest.

https://www.ft.com/content/d6fd725b-3e6e-46a8-8c14-12b936e7cce8 and all based on data from the two crooks', Patrick Reeve and Will Fraser-Allen, very own Association of Investment Companies. For those interested persons without a subscription, a copy is available at https://app.box.com/s/ct30barc75qfpi35xczt4eldxdjkwyz2 ------------------------------------------------------------------------------------------------------------ An interesting statistic: VCTs only have to invest 30% of new money. Tax relief is immediate 30% cash back. So the Government is directly paying for the entire investment by VCTs without any participation in the upside - even Donald Trump isn't that duplicitous! That is why Albion's sworn testimony and admission that VCTs are PONZI schemes needing endless rounds of fund raising is of such concern.   Is it any wonder that the UK is a failed State with ever increasing wealth divisions?  Will Rachel "stop the rot" and tax VCT dividends to raise...

Following ICAEW's 2nd level decision (sent out on Friday 15 August) that it's members providing Independent Valuer Services to VCTs are not in breach of s596(3)(a) the Companies Act when they fail to comply with the mandatory disclosures and just pocket the money for rubber stamping Investment Managers valuations (knowingly false and unjustifable in the case of all the Albion VCTs) it is time to get back to work after the Summer Vacations. On 23 January 2025 Albion and Howard Kennedy llp swore under penalty of Perjury in statements to the High Court that:  "VCTs rely on regular fundraising rounds to continue their activities." The very definition of a PONZI scheme. https://www.investor.gov/protect-your-investments/fraud/types-fraud/ponzi-scheme This is why the tame Directors of the VCTs have such a vested interest in making sure that VCT managers never increase the NAV beyond a level at which they can maintain the 5% annual payments out of Share Premium monies from e...