A friend very kindly sent this through and I thought it might be useful for anyone wishing to look at taking action against Crowdcube and or Sugru. I have to say my experiences with Ombudsmen is not good.
I have complained against companies that have ripped me off and have been complained against so here it is.
No matter how much fuss you kick up, and is on the message boards, the FCA won’t do a thing. They are not listening and not even monitoring.
They’re basis for taking action is complaints that are upheld by the Ombudsman http://www.financial-ombudsman.org.uk/
If any FCA company gets one or more complaints which are upheld by the Ombudsman, then suddenly the FCA is all over the offender. But under their light touch regulation, they have to identify a problem before they investigate it.
You need to get one of the investors or many of them to complain to Crowdcube. Standard stuff is we were presented misleading information to make our decision on. As such I want my money back.
Crowdcube then has 28 days to investigate and find a way to make the client happy.
If the investor is not happy he can then complain to the ombudsman (the FCA is now aware and monitoring events via the ombudsman).
The ombudsman investigates and has the power to get Crowdcube to refund all the investors money.
These are the proper channels for getting results. The FCA doesn’t listen to anything else