UK ACORN,FARM FINANCE,DES PHILLIPS,BEWARE!!!!!
- Thread starter Acornworm
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Acornworm
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renewablejohn
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interesting to see what the entire financial services industry thinks of UK Acorn Finance & Des
Para 25 (b)
https://www.collegiate.co.uk/v3/uw/downloads/Proposals/Finance Brokers Proposal.pdf
Para 25 (b)
https://www.collegiate.co.uk/v3/uw/downloads/Proposals/Finance Brokers Proposal.pdf
Acornworm
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That is priceless
Wonder if Mr Julian Gleek engaged in due diligence before he handed over his dosh to Des
The dirty secret that only the authorities don't know about, it would seem
Acornworm
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I wonder how long this dirty smell has been lingering around Phillips? In 2012 brokers were refusing to touch any refinance that involved Phillips,those that did would only do so on LTVs of 50% or less,leaving many borrowers who got sucked into the UK Acorn/Connaught fraud unable to escape,even though they recognised the situation they were in.
This document and paragraph 25(b) says it all.Does this indicate that despite UKAFs claims that they are still pursuing insurers for the shortfall,the insurers are effectively laying out their stall. The solvency of UKAF has been questioned for many years,many knowingly false statements have been made,perhaps now the game is up, a rethink perhaps for the Connaught investors,good money after bad comes to mind.
so there it is in black & white, Toxic Toad has managed to get a section all of his own on insurance underwriting application forms, which blows away the official empty rhetoric line about 'a few disgruntled farmers' on here
it seems financiers, solicitors, surveyors, anyone who has 'done business' with Toad & Co may as well pack up, go home & start all over again as they are seemingly uninsurable
it seems financiers, solicitors, surveyors, anyone who has 'done business' with Toad & Co may as well pack up, go home & start all over again as they are seemingly uninsurable
Acornworm
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I can only see this as insurers taking matters into their own hands,damning the efficacy of RICS.After all should RICS have acted in the greater interest of the majority of their members they would have weeded out the offenders,some of whom they received multiple complaints about,including allegations of criminal behaviour.
Similar could be said of the FSA/FCA and the SRA ,proving that none of these institutions are fit for purpose,their limp wristed approach has now resulted in a gigantic problem.
Some professionals were led on by 'Toxic Toad' with the promise of regular work,unaware of his shady world,how his business model worked and the risk to themselves.Others knew full well and were prepared to push the envelope as far as possible provided the reward was suitable. It was up to the regulators to differentiate between these people but they chose not to,they must be the ones called to account.
This question?: Due Diligence: a) Prior to recommending a loan do you undertake due diligence into the lender to ascertain their financial stability and credit rating? YES NO b) Have you ever facilitated a loan with or introduced a client to or used the services of UK Acorn Finance Ltd, UK Farm Finance Ltd, Agri Funding Ltd, Acorn Country Capital Ltd, Agricultural Management Services Ltd or any other entity associated with Desmond Phillips? YES NO
Does anybody know the date this exactly worded 'proposal form' came into being?
renewablejohn
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- lancs
Looking at the form I would have said March 2017.
Acornworm
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Apparently the hearing was adjourned since Toad was taken ill the week before. The new date is set for 22nd December. Merry Christmas to him too!
Funny that excuse works for Toad, but not for his victims.Apparently the hearing was adjourned since Toad was taken ill the week before. The new date is set for 22nd December. Merry Christmas to him too!
Acornworm
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James HurleyVerified account @jameshurley 2h
Acorn, the agricultural lender accused of ruining scores of farmers from across the UK, now has its own section on insurance underwriting forms. Some achievement.pic.twitter.com/cYfia0Py91
Acorn, the agricultural lender accused of ruining scores of farmers from across the UK, now has its own section on insurance underwriting forms. Some achievement.pic.twitter.com/cYfia0Py91
Truthsayer.
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DP taken ill eh? I can only hope and pray that it's nothing trivial.
Thanks, reached the same conclusion myself. If correct they do not appear to have been too quick off the mark themselves, perhaps better late than never?
I am sure its magnified as much as possible, but we actually want him well enough to face his just deserts.