CARDUUS HOUSING INVESTMENTS
Unregulated by the FCA, Carduus Housing was always a high-risk investment, with no help from the FSCS or FOS for investors who wanted out due to problems with the investment itself.
And it does seem to have had some problems!
On the 14th March, both Carduus Housing’s 6.5% and 6.25% unsecured bonds (which were due to pay out in 2020) were suspended from trading on the ISDX Growth Market, effectively freezing them. The apparent reason for this was to await clarification on Carduus’s “Financial Position”, but why?
Discrepancies… a “Committee of the board” was formed to investigate, and it was later revealed that between October 2015 and March 2016, a LOT of money left Carduus Housing and headed towards it’s parent company – Carduus Finance. About £1.429 MILLION…
Further investigations ensued, resulting in the revelation that a further £875k went to an “unrelated third party”!
Afterwards, many directors resigned their position at Carduus, and the whole lot was sold for £1 (Yes, you read that right), with 75% going to Mr Pankaj Rajani, and 25% going to Beaufort Securities – a firm whose DFM services were partially shut down after agreeing with the FCA to cease taking new money into it’s investment portfolios…
Can you make a claim for having been mis-sold this high-risk investment? We can help you find out!