Sunday, 7 June 2015
Hug and Co have finally surfaced - only to file for closure
We reported earlier that Crowdcube funded Hug & Co had failed to file accounts or returns. Now we know why; they are closing. This was one mess they couldnt change out of.
So this is yet another Crowdcube success, yet more taxpayers' money poured down the drain and yet another reason why this waste should be stopped... now
Of course it is ok for grown ups to throw away their money if they wish, we believe in caveat emptor. But this whole equity crowdfunding scam is being fueled by the SEIS and EIS schemes - giving investors instant 50% and 30% refunds respetively. This is not free money - it comes out of the Exchequer. It is our tax money that is being so stupidly wasted.