London Capital & Finance [LCF] fell into administration in January 2019, owing more than 11,500 investors around £237million pounds.
The collapse of LCF led administrators for the company to announce last year that they are suing 13 people connected with the Eridge-based firm, which sold minibonds offering rates as high as eight per cent.
Smith and Williamson say they are seeking £178million from individuals it claims were aware LCF’s purpose was to defraud bondholders.
Among the men being sued are former Tunbridge Wells local Conservative Party Chairman, Simon Hume-Kendall, who set up LCF under the name Sales Aid Finance in 2012 and went on to become the biggest borrower of funds from the firm after stepping down from being a Director.
Mr Hume-Kendall, LCF Director Andy Thomson, Hadlow Down based Elten Barker, Crowborough businessman Spencer Golding, and former Tonbridge Policeman Paul Careless – all connected to LCF – were arrested by The Serious Fraud Office in 2019 in relation to the collapse, but to date no charges have been laid.
However, in an update, the SFO has now said it has arrested a further two people from the Kent area.
The two people, who have not been named, were quizzed in March and December last year and questioned over allegations of money laundering.
The SFO also launched a questionnaire last year aimed at investors who lost money in the LCF collapse as officers seek potential witnesses to any alleged wrongdoing.
