On 28th March 2018 Safe Or Scam wrote to Simon Whittley, the Managing Director of St Helier Capital Management Ltd ("SHCM"). The purpose of the letter was to demand the repayment of £80,000 paid to SHCM by two investors along with a contribution of £7,780 towards costs. One of the investors was 87 years old at the time he made his investment.
Both investors had been approached to invest before signing any HNWI or SCSI Statement which is a breach of UK financial regulations.
Safe Or Scam undertook an investigation which revealed the following:
- SHCM was incorporated on 18th February 2016 as 'Bonby Biogas Ltd' but changed its name to SCHM in August 2016.
- In October 2016 it produced an inaccurate and misleading Information Memorandum which it marketed through unregulated sales agents.
- Investors were misled as to the number of company directors and their experience. At all times the company has only ever had one director - Simon Whittley.
- Investors were misled as to the share capital and share ownership of the company. They were informed that the company had 50,000 shares which were owned by various directors. At all times the company has only ever had 2 shares, both of which are owned by Simon Whittley.
- Investors were informed that SCHM had been in existence since 2012 but had in fact been formed in 2016.
- Investors were advised of clauses in the Articles of the company. Said clauses have never existed.
- The Information Memorandum focused heavily on the fact that the main reason for raising funds was to acquire Avon Capital Ltd based in Jersey. Avon Capital was placed into liquidation on 16th March 2017.
- Most disturbing of all was that despite many investors paying for Preference Shares in 2016, the records at Companies House show that no Preference Shares have ever been issued. In fact, the annual Confirmation Statement filed at Companies House on 17th February 2018 clearly shows that the company only has the same two Ordinary Shares it had when it was incorporated and a total share capital of only £2.
Safe Or Scam has investigated another company owned by Simon Whittley and also allegedly involving Simon Paler. That company is called Win River Developments Ltd. We were able to obtain refunds for two clients on the basis that the Information Memorandum contained false and misleading statements and that there were material omissions which, had they been included, would have influenced our clients NOT to invest. Mr Whittley was informed that we would be publishing the above statements and was given the opportunity to comment. He has not commented.
Simon Whittley has a history offering fixed-term investments that do not pay out - see Highgrove Osprey Plc
As of 8th May 2018 Simon Whittley is a director in the following companies:
- Glenview Natural Energy Ltd - incorporated in April 2018;
- Grimaud 365 Ltd - incorporated in March 2018;
- Win River Ltd;
- Win River Developments Ltd;
- Natural Capital Holdings Ltd;
- Natural Capital Energy Ltd;
- Hawksbill Property Holdings PLC;
- Highgrove Securities LLP;
- Highgrove Osprey PLC;
- Equilibrium JMM Ltd;
Safe Or Scam is also interested in information concerning Avianta Capital Consulting Ltd in which Simon Paler is a director.
If you have made an investment in St Helier Capital Management Ltd, or made any other investment you are concerned about, or are interested in working with Safe Or Scam, please visit our website at here