A bit of light week-end reading. What do the initials VCT actually stand for?

Seems to me after a year of ongoing High Court battles where the Directors of so many VCTs have just thrown more than £1m of unrecoverable shareholder money at outrageously padded legal bills of Howard Kennedy llp (solicitors to 95% of all VCTs and independent decision of the High Court of overcharging and improper duplication of fee earners by more than one-third of amounts claimed and paid by the tame directors);

a British Virgin Islands resident opportunist being paid to prevent Octopus Titan Directors having to be in front of the Court; https://www.jtcgroup.com/people/anna-silver/ (You should see the documents I am prohibited from disclosing)

and improper collusion by the Directors of all the VCTs with so many firms of Chartered Accountants to hide their otherwise statutorily discloseable hours and charge out rates (upto £1,500 per hour!), that the only possible conclusion is that the initials VCT demonstrably stand for:

Vultures, Crooks and Thieves.

VCT  directors just dare not tell shareholders what the truth really is. They are all happy to take their fees (and rotate from one Investment Trust to another when they have proven their "reliabilty" and "can be trusted" by their Investment Managers) but when it comes to Fiduciary Duty - forget it.

Take a look at the just published initial numbers (ahead of next week's audited results) for my proposal to convene a meeting to propose the liquidation of Octopus Titan VCT that last traded on Thursday at a 75% discount to Net Asset Value.

https://otv2go.blogspot.com/2026/04/food-for-thought-after-some-poor.html

Ask Gresham House why they refuse to reveal answers to the questions put to them at the recent AGMs? The Directors publicly stated they would answer. Have they? Nope - despite endless reminders. You can see it all on the publicly available AGM videos.

Comments

Post a Comment

Popular posts from this blog

[Latest UPDATE: 2 NOVEMBER] Octopus Titan VCT plc - matters of concern (to be continued)

Image
[ UPDATE 2 NOVEMBER] Food for thought. e&oe Outright proof that VCTs are not only a PONZI scheme but a total rip-off on taxpayers who, in this case, paid for more than the cost of the entire Investment Portfolio as an outright gift to the "super-rich". Octopus Investments should be hanging their heads in shame. Listen to the new CEO (ex the Silicon Valley Bank farce) admit the VCT structural failures at: https://sifted.eu/articles/erin-platts-podcast Do read and follow the new blog about the proposal to Liquidate OTV2 and save more than £100,000,000.  https://otv2go.blogspot.com/ ------------------------------------------------------------------------------------------------------------------------ [UPDATE 20 OCTOBER] FOR STUDENTS OF THE INVESTMENT PORTFOLIO OF OCTOPUS TITAN VCT PLC, THE URL BELOW IS AN ANALYSIS OF ALL  THE HOLDINGS at 31.12.24 WITH VALUATIONS GOING BACK TO 31.12.19. https://app.box.com/s/ct30barc75qfpi35xczt4eldxdjkwyz2 IT MAKES TRULY DREADFUL READING, A...
Read more

[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. 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...
Read more

Time to start a generic blog exposing the gory details of the Government sponsored scam.

Image
  HOW IT WORKS: 1. Incorporate a plc with Penny shares 2. Apply to HMRC for approval 3. Apply to Financial Conduct Authority and London Stock Exchange  4. Appoint compliant directors. 5. Issue Penny shares for One Pound. 6. Invest only 30 pence per share.  7. Take initial and directors salaries on all investments. 8. Pay all interest earned to professionals and as Investment manager fees. 9.  Apply to High Court to cancel 99 pence "share premium" so it can be paid out as dividends. 10. Value investments at higher of original cost or "thumb in the sky". 11. Repeat as often as possible 12.  When you run out of money or can't realise investments simply merge the companies on valuations that you alone decide. 13. Join a self serving Trade Association. HOW YOU FIND INVESTORS: Go into partnerhip with Financial Advisers who, for large fees, will promote the scam as:  "HMRC will pay you so much that you have £1m in 10 years time that has cost you nothing"
Read more