KL Capital Ltd
KL Capital Ltd is the new vehicle through which UCIS Advice Point may be intending to approach the victims of scams. One of our clients received the following email:
On Wed, Sep 23, 2020 Andrew Eastham email@example.com wrote:
We are delighted to tell you that funding has now been agreed for your claims to be pursued by Irwin Mitchell.
You will shortly receive confirmation from KL Capital Ltd requesting your confirmation that you are happy for Irwin Mitchell to contact you.
You will then receive an email from Jonathan Sachs with all the necessary documents for your perusal and signature.
If you have any issues please don`t hesitate to contact us.
Andrew Eastham, for UCIS Advice Point
Irwin Mitchell will be aware of the SRA Standards regarding law firms working with introducers and the FCA claims management company regulations.
UCIS Advice Point has approached investors in many recent scams including Northern Powerhouse Developments, Signature Living and Shepherd Cox to name a few. We have covered UCIS Advice Point before (see link at the end of this article), but here’s a brief summary:
UCIS Advice Point is controlled by Neil Bromage although he will not be shown at Companies House. He is a disqualified director and has been to prison for 10 financial offences including fraudulent trading and 3 offences of participating in the management of a company while an undischarged bankrupt. Years later he was also found guilty of acting as a director of a company when disqualified from doing so. Deja vu ?
Our concern is that Neil Bromage and associates have also set up companies which offer investments. Some investors who responded to UCIS Advice Point in the past have then received unsolicited invitations to invest in new investments. They have also been targeted by follow-on-fraudsters claiming to be able to recover their investments. KL Capital Ltd may be a smokescreen to allow those kinds of activities to continue.
Back to Andrew Eastham’s email. It was sent on 23rd September. KL Capital Ltd was formed on 20th September. Katherine Ruth Longworth is the only director. The company had only been in existence for 3 days and now it is allegedly acting as an Introducer to Jonathan Sachs at Irwin Mitchell. It smells very fishy and there are a lot of red flags flying. Perhaps Irwin Mitchell is unaware of the UCIS Advice Point email and has never had any contact with Neil Bromage or KL Capital Ltd ?
Any investor who receives a communication from UCIS Advice Point or KL Capital Ltd should report the matter to the Financial Conduct Authority. We are also advising investors who receive this or a similar email to contact the Solicitors Regulation Authority and ask them to check out the Neil Bromage / Irwin Mitchell connection because it may just be a UCIS Advice Point fabrication.
In our opinion there are too many unanswered questions around the formation of a new company which 3 days later is being introduced to investors by UCIS Advice Point as an introducer to Irwin Mitchell. It looks like an attempted workaround of director disqualification, SRA and FCA regulations. That’s a lot of regulations to attempt to circumvent.
If KL Capital Ltd is a front for Neil Bromage, then Katherine Ruth Longworth should be very careful. Acting as a nominee director for a disqualified director is a criminal offence.