Exclusive: Pensioner horror as Basset & Gold emerges as backer behind payday loan provider Uncle Buck
ensioners whom purchased collapsed relationship investor Basset & Gold today told of the horror at learning the business had been investing their cash in providing loans that are payday.
The bondholders stated they certainly were told Basset & Gold spent their cash in a variety of small enterprises and, some state, home.
In reality, once the business collapsed final month placing 1800 pensionersвЂ™ money in danger, it emerged that almost all the funds had been put in a payday lender called Uncle Buck. Uncle Buck collapsed, triggering the demise of Basset & Gold a few weeks later on.
Uncle Buck had been accused in parliament by Stella Creasy MP of providing loans by having an APR of 2500% last year to lenders that are vulnerable.
Investor Rob Sawyer stated he had been told the income had been dedicated to London properties. вЂњItвЂ™s disgusting,вЂќ he said. (more…)