[UPDATE 30 March] Do any of the Albion VCT directors have the slightest idea what they are doing?
[UPDATE 30 MARCH]
The new Chied Executive of the Insolvency Servce seems to have some "cojones"
Letter received today: DBT is now to compel ELLIPTIC ENTERPRISES to comply with the law.
That makes a change!
Will Fraser-Allen to resign with immediate effect? Not a chance - he is one of the most dishonest immoral company directora in the UK today trousering more than £1m pa for adding little value to anything.
Albion and Octpus to resign as VCT Investment Managers in the light of the letter? Fat chance fees, fees, fees and "trebles all round".
All Albion Capital Group llp members to now admit criminal tax evasion, fraud and "cheating the public revenue", and accept suspended prison sentence? We shall see.
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Ben Larkin, Chair of Albion Enterprise VCT plc and the defunct Albion Development VCT plc, went to great lengths to evade my questions at the virtual AGM (which is why he and I are in the High Court in March and October 2026) and to spout how much care they take over Valuations.
The Quantexa accounts prove what a lot of nonsense he was talking in September 2025 because he and his fellow directors already knew all about not only the already incurred July 2025 "warrant dilution" for Quantexa's failed accounting representations but also the projected collapse in Quantexa's value from the Series F yet to be issued at that time.
Minute 28.44 of the recording https://www.youtube.com/watch?v=UAYwlbjuOYY
And it only gets worse when you look at another of the Albion VCTs "top ten" >£10m assets - Elliptic Enterprises Ltd.
All you have to do is look at the last minute accounts filing by the Crypto peddling company ELLIPTIC ENTERPRISES LTD (Directors - The same Quantexa director from Albion, and the liar and Quantexa director Richard Seewald and one from Octopus Titan VCT )
and what do you find: an unquantified number of warrants issued, unparticularised conversion terms on the vast number of very expensive convertible loan notes (implied NPV rate >14.4% in 2024)
Seems to me that the warrant scam is becoming widespread
So I wrote asking for a copy of the register of Members including warrant holders.
Contrary to law, and in best Albion VCT directors form, no reply was received and no application was made to the High Court as is mandatory. (s116 Companies Act 2006).
Given that Richard Seewald was investing British Business Bank plc's money I am going to ask it's owner, Rt Hon Peter Kyle MP Secretary of State for Business and Trade, to intervene and get a response, failing which it is off to Court we go again.
All in all the whole of the UK needs to be very concerned about the scams being carried out by FCA Authorised Investment Managers
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