Another outstanding Brexiter MP ex-army veteran Another outstanding Brexiter MP ex-army veteran
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  1. #1

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    Default Another outstanding Brexiter MP ex-army veteran

    MP Johnny Mercer's salary funded by failed bond scheme marketing agent

    Amanda Cunningham was trying to save money for her autistic son when she lost more than £22,000 investing in LCF.

    MP Johnny Mercer's salary funded by failed bond scheme marketing agent - BBC News

    Johnny Mercer receives £85,000 from Crucial Academy, a company ultimately funded by Surge Financial Limited.

    Surge Financial Limited took 25% commission for marketing bonds by London Capital and Finance (LCF), which is now in administration.

    Mr Mercer - who is now facing calls from investors to quit as an MP - has not responded to requests for comment.

    The Conservative MP for Plymouth Moor View is a non-executive director of Crucial Academy, which trains military veterans and aims to find them employment.

    Mr Mercer, himself a former Army officer, is contracted to work four hours per week, a rate of more than £350 per hour.
    Voting record - Johnny Mercer MP, Plymouth, Moor View - TheyWorkForYou

    How Johnny Mercer voted on Social Issues #
    Consistently voted against laws to promote equality and human rights
    0 votes for, 5 votes against, between 2015–2018
    Voted against allowing terminally ill people to be given assistance to end their life
    0 votes for, 1 vote against, in 2015
    Share a screenshot of these votes:
    Last updated: 13 June 2018
    How Johnny Mercer voted on Foreign Policy and Defence #
    Consistently voted for use of UK military forces in combat operations overseas
    2 votes for, 0 votes against, in 2015
    Voted against investigations into the Iraq war
    0 votes for, 1 vote against, in 2016
    Consistently voted for replacing Trident with a new nuclear weapons system
    4 votes for, 0 votes against, in 2016
    Almost always voted against more EU integration
    5 votes for, 52 votes against, 12 absences, between 2016–2019
    Consistently voted for a referendum on the UK's membership of the EU
    4 votes for, 0 votes against, between 2015–2016
    Almost always voted against a right to remain for EU nationals already in living in the UK
    0 votes for, 16 votes against, 2 absences, between 2016–2019
    Almost always voted against UK membership of the EU
    1 vote for, 19 votes against, 4 absences, between 2017–2019


    Something I’m getting really fed up hearing about is ‘delivering’ Brexit. It is no such thing. When I receive something from Amazon I get it delivered to my door. When I give up something, like my domestic waste, freedom of movement, or membership of the world’s largest trading bloc, someone takes it away. They don’t deliver anything.
    blipvert the guardian

  2. #2

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    It seems to be hard to remove MPs.

    But the FCA has real teeth. I thought anyone with a connection to LCF had their assets frozen? Certainly I know of one case where their assets are still frozen. Why is Mr Mercenary an exception?

  3. #3

    More fingers than teeth

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    Brexit is having a wee in the middle of the room at a house party because nobody is talking to you, and then complaining about the smell.

  4. #4

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    Those nice Tories. Really looking out for the common man
    I may not know Karate, but I know crazy and I'm not afraid to use it

  5. #5

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    Did any of the "Investors" read the bit in the literature that says "Capital at Risk"?

    Would anybody like to tell me what the MP in question has done wrong? Which laws has he broken?

    It's not like he's drinking a can of "spesh" on the underground, is it?

    All those poor(er), greedy, gullible people parted from their money. They've (hopefully) learned a lesson, albeit an expensive one.

    Putting something so important as money to look after someone's ill health into this kind of scheme is bloody irresponsible - by "this kind of scheme" I mean "Capital is at Risk".

  6. #6

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    Quote Originally Posted by Zigenare View Post
    Did any of the "Investors" read the bit in the literature that says "Capital at Risk"?

    Would anybody like to tell me what the MP in question has done wrong? Which laws has he broken?

    It's not like he's drinking a can of "spesh" on the underground, is it?

    All those poor(er), greedy, gullible people parted from their money. They've (hopefully) learned a lesson, albeit an expensive one.

    Putting something so important as money to look after someone's ill health into this kind of scheme is bloody irresponsible - by "this kind of scheme" I mean "Capital is at Risk".
    London Capital & Finance: GBP236m firm collapses - BBC News

    Thousands of people who invested in a high-risk bond scheme marketed as a "Fixed Rate ISA".

  7. #7

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    Quote Originally Posted by BrilloPad View Post
    London Capital & Finance: GBP236m firm collapses - BBC News

    Thousands of people who invested in a high-risk bond scheme marketed as a "Fixed Rate ISA".
    Did these word not mean anything to anybody investing. Anything after that is down to the individuals own appetite for risk and their risk profile. Did they not take independent financial advice before investing? Come on guys we all know this stuff. Most of us administer our own pensions (PIPs) for gawds sake

  8. #8

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    Quote Originally Posted by BrilloPad View Post
    London Capital & Finance: GBP236m firm collapses - BBC News

    Thousands of people who invested in a high-risk bond scheme marketed as a "Fixed Rate ISA".
    Nah, I'm with Ziggy. I blame those who were lied to and mis-sold and not the thieving companies who took their money. Like Ziggy, I'm not going to bother reading the story, but will base my view on my own perception of reality and not on what really went on
    I may not know Karate, but I know crazy and I'm not afraid to use it

  9. #9

    Prof Cunning @ Oxford Uni

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    Quote Originally Posted by Yorkie62 View Post
    Did these word not mean anything to anybody investing. Anything after that is down to the individuals own appetite for risk and their risk profile. Did they not take independent financial advice before investing? Come on guys we all know this stuff. Most of us administer our own pensions (PIPs) for gawds sake
    Nice bit of deflection.
    People lost a lot of money. The story is that an MP is being paid a large sum of money by the same company for 4 hours a week.

    ...but hey, being paid £85k a year for doing next to no work for a company with a track record in taking people's money is perfectly fine. At least he didn't have an M&S mojito on public transport.
    Strong and Stable Moderation

  10. #10

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    Quote Originally Posted by Yorkie62 View Post
    Did these word not mean anything to anybody investing. Anything after that is down to the individuals own appetite for risk and their risk profile. Did they not take independent financial advice before investing? Come on guys we all know this stuff. Most of us administer our own pensions (PIPs) for gawds sake
    Yeah, yeah, it's the victim's fault for being lied to and not the company that paid £60m to a PR firm to run a dodgy marketing campaign that broke FCA rules on what the company could sell.

    As for "most of us administer our own pensions" ... really? You seriously believe most people in the UK run their own pensions and hence "know all this stuff"? 17.4m believe the tosh on the side of a bus, that's how well educated and knowledgeable the UK populace is
    I may not know Karate, but I know crazy and I'm not afraid to use it

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