Wednesday September 4 | 2019
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O N IS ’T SU M E ISS O T F H SO E M SE OF TUNBRIDGE WELLS A PT G E A M Auction Wine Auction bids bids and and raffle raffle tickets tickets are are available available at at Hotel Hotel du du Vin Vin Wine lovers lovers in in Kent Kent are are being being given given the the chance chance to to win win ZI B N E on Crescent Crescent Road Road from from September September 11 to to 29, 29, where where the the valuable bottles bottles of of wine wine in in aa charity charity auction auction and and raffle raffle on valuable E R
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being being held held by by Hotel Hotel du du Vin, Vin, Tunbridge Tunbridge Wells Wells as as part part of the 25th anniversary celebrations of the of the 25th anniversary celebrations of the Hotel du du Vin Vin brand. brand. Hotel
bottles bottles of of wine wine will will be be available available to to view. view. Tickets Tickets cost cost £20. £20.
VALUABLE VALUABLE WINES GO UNDER WINES WINES GO GO UNDER UNDER THE HAMMER THE HAMMER FOR FOR CHARITY CHARITY
Wine Wine lovers in Kent are being given the chance to win Wine lovers lovers in in Kent Kent are are being being given given the the chance chance to to win win valuable bottles of wine in a charity auction and raffle valuable bottles bottles of of wine wine in in aa charity charity auction auction and and raffle raffle valuable being held by Hotel du Vin, Tunbridge Wells as part being being held held by by Hotel Hotel du du Vin, Vin, Tunbridge Tunbridge Wells Wells as as part part of of the 25th anniversary celebrations of the of the the 25th 25th anniversary anniversary celebrations celebrations of of the the Hotel Hotel du du Vin Vin brand. brand. Hotel du Vin brand.
Auction Auction bids and raffle tickets are available at Hotel du Vin Auction bids bids and and raffle raffle tickets tickets are are available available at at Hotel Hotel du du Vin Vin on Crescent Road from September 1 to 29, where the on Crescent Crescent Road Road from from September September 11 to to 29, 29, where where the the on bottles of wine will be available to view. Tickets cost £20. bottles bottles of of wine wine will will be be available available to to view. view. Tickets Tickets cost cost £20. £20. HOTEL DU VIN & BISTRO TUNBRIDGE WELLS HOTEL HOTEL DU DU VIN VIN & & BISTRO BISTRO TUNBRIDGE TUNBRIDGE WELLS WELLS HOTELDUVIN.com HOTELDUVIN.com HOTELDUVIN.com
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HOTEL DU DU VIN VIN & & BISTRO BISTRO TUNBRIDGE TUNBRIDGE WELLS WELLS HOTEL HOTELDUVIN.com HOTELDUVIN.com
Businessmen refuse to help trace millions owed to savers
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Lack of co-operation is considered ‘deliberate’ and ‘co-ordinated’ By Richard Williams THE four men being investigated over the collapse of a Tunbridge Wells investment firm are refusing to help in finding tens of millions of pounds that have gone missing. London Capital & Finance [LCF] fell into administration in January owing £237million to around 11,500 investors. Many of the people who lost money in the scandal had ploughed their lifesavings into the firm’s bond scheme, which was offering interest rates as high as eight per cent.
Confronted LCF were meant to be supplying business loans with the money to a wide range of start-ups, but in reality most of it went to business interests connected to just four men. The men include LCF founder and former Tunbridge Wells Conservative Party chairman, Simon Hume-Kendall, as well as Elten Barker from Hadlow Down, LCF director Andy Thomson, and equestrian businessman, Spencer Golding from Crowborough. Earlier this year when confronted by the Times at his mews home in Tunbridge Wells Mr Hume-Kendal said: “The intention is to pay all the money back.” Despite this assurance, administrators, Smith & Williamson, say Mr Hume-Kendall along with the four other men are hampering any progress in getting back the missing millions as they are refusing to co-operate. They have revealed that Mr Hume-Kendall and his associate, Mr Barker, through a
business they owned together, London Group, borrowed £154.6million from LCF, £28.5million of which went missing. FS Equestrian Services, a firm that listed Spencer Golding as its patron, also borrowed £12.3million from the company, and administrators are trying to
‘The men were asked to put money into an escrow account but none has so far materialised’ track down information on horses owned by the company as well as a helicopter formerly owned by Golding which administrators want to sell. They say they asked all the men to hand over money in escrow but none has materialised. The collapse of LCF is also being investigated by the Serious F r a u d Office who
have frozen some of the men’s assets. They have also arrested and questioned five men in connection with the LCF collapse but all have been released pending further investigations. Finbarr O’Connell from Smith & Williamson said: “[It] has been extraordinarily complex. To make matters worse, administrators have had almost no cooperation from the main parties involved with LCF, both the company and its borrowers, which the administrators consider to be deliberate and probably coordinated. “These matters have significantly added to both time and cost.” He added they have recovered around £200,000 worth of property from LCF and there could be more to come. “What is encouraging, however, is the work is bearing fruit and is expected to result in further recoveries,” he said. Some of the ‘highly suspicious’ transactions being looked at by the administrators include a £27million loan to companies developing land in Cape Verde, despite the business having no legal rights to any land. In another deal, LCF loaned £840,000 to its parent company, London Financial Group, to buy a helicopter and sell it on to an American company for a ‘quick profit’ but adminis-
Continued on page 2 Simon Hume-Kendall and his wife Helen who live in Tunbridge Wells. He told the Times earlier this year he intended ‘to pay all the money back.’
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Alliance plans to target Lib Dems and the Greens at next elections
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STRATEGIST Robert Chris
By Jonathan Banks THE Alliance party that swept aside the Tory candidates in the last borough council elections are now planning to target the Lib Dems and the Greens, the Times can disclose. The party was created with the sole objective of stopping the £108million theatre and civic complex on the edge of Calverley Grounds. As reported in last week’s Times, members of the Alliance have also been suspended from the community social media network, Nextdoor, for ‘soapboxing’ against the theatre.
Warned Through an aggressive social media campaign that has attacked those in favour of the project, the Alliance managed to unseat five Conservatives during the local elections and now has six seats on the Council. One of the driving forces behind the strategy for the election in May was Robert Chris who is now party chairman. He and other leaders live next door to the proposed site. Alliance Cllr Nick Pope has already publicly warned Tory members who do not vote against
Continued on page 2