[UPDATE 22 AUGUST... and Lo it came to pass...] Albion Capital Group and Howard Kennedy llp confirm to the High Court that all VCTs are Ponzi schemes.

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.

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 each successive grubby fund raise.

..........................................................................................
[UPDATE 22 AUGUST]

ALBION VCT'S admit that they can't continue without upto £90,000,000 (Ninety Million!) new cash.


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