FSCS warns LCF investors about scammers
The Financial Services Compensation Scheme (FSCS) has warned London Capital & Finance (LCF) bondholders about scammers that continue to approach them.
The FSCS has been administering the pay-out of the Treasury’s £120m compensation scheme that provides 80 per cent of LCF bondholders’ initial investment up to a maximum of £68,000.
It said some fraudsters are still approaching LCF investors, claiming to be able to recoup the full amount of their investment.
The FSCS warned lenders to be wary of any contact from anyone claiming to be from LCF and to contact the FSCS directly if they are unsure a call is genuine.
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“LCF bondholders are still being approached by scammers,” the FSCS said in an update on its website.
“Fraudsters using the company names LC Holdings and Capital Finance are claiming to be able to get compensation for the full amount of your LCF investment. Both are scams, and there may well be others.
“Be very wary of any emails, letters or calls claiming to be from LCF or someone else offering to help you get access to compensation. If you are unsure at any time if a call is genuine, please hang up and contact us directly using the information on our contact us page.
“If you’re a victim of fraud, know a victim of fraud, or are a witness to fraud, report it at Action Fraud.”
The FSCS is keeping the LCF compensation scheme open past its initial deadline, as it waits for documents from some remaining investors before paying the 30 bonds left.
It has paid out just over £114.5m in compensation to LCF investors in total.
