Friday, 8 April 2016
Crowdcube admit they failed to check Rebus investment
So now we have it. Crowdcube have admitted they had no idea that Rebus had tried and failed to raise capital through Resolve only months before they launched their Crowdcube scam. Or that they tried and failed again only months after raising £800,000 on the ECF platform.
See here for the full article we helped the The Times put together -
Luke Lang, Mr PRing from Crowdcube, goes on to say that Crowdcube's lack of due diligence into Rebus's financial state was not a serious issue! We think this proves beyond any doubt that the traffic at Crowdcube is all one way - in favour of the companies raising the equity. Fudge the investors.
Crowdcube, as anyone who reads this blog will know, do not have a due diligence department or if they do, they are always out to lunch. If they had a working version, they would surely have picked up at least one of the two signals flashing red from Rebus's plans - one the comapany's crippling cash flow or two the fact that the front man for this Crowdcube scam was a currently banned company director.
Well they failed to see either of them. This means they are either blind or worse still that they connived with Rebus to hide the facts. Either way, we end up with another .........