SFO Investigation into London Capital & Finance plc

SFO Cases

Filed March 18th, 2019

Detected March 6th, 2026

Summary

The Serious Fraud Office (SFO) announced an ongoing investigation into individuals associated with London Capital & Finance plc (LCF), which relates to investments offered to the public between 2013 and 2018. The SFO opened the investigation in 2019 and has made arrests, with the case remaining active.

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What changed

The Serious Fraud Office (SFO) has an ongoing investigation into individuals associated with London Capital & Finance plc (LCF), concerning investments offered to the public between 2013 and 2018. The investigation commenced in 2019, with arrests made in March and June of that year. While separate civil proceedings brought by the Joint Administrators of LCF against company executives concluded with a judgment in November 2024, the SFO's criminal investigation remains active.

Regulated entities and investors should be aware that the SFO investigation is separate from the civil litigation. The SFO cannot provide advice on the civil case or compensation, directing such queries to the Joint Administrators. Investors are warned to be wary of unauthorized communications purporting to be from LCF or its directors, especially those referencing 'lodging claims' or demanding action, as these may be scams. All official communications regarding the administration should come directly from the Joint Administrators.

What to do next

Review internal policies for investor protection and fraud prevention.
Ensure all investor communications are clearly authorized and originate from official channels.
Direct any investor queries related to LCF administration to the designated Joint Administrators.

Source document (simplified)

London Capital and Finance

The SFO opened an investigation into individuals associated with London Capital and Finance plc in 2019.

From: Serious Fraud Office Published 29 November 2024 Last updated 2 February 2026
— See all updates Case state: Open Date announced: 18 March 2019 The conduct relates to investments offered to members of the public between 2013 and 2018. These investments were initially sold through a company called Sales Aid Finance (England) Ltd (SAFE), which changed its name to London Capital & Finance Ltd in July 2015. It was re-registered as a public limited company in November 2015 and became LCF.

Case Timeline

4 March 2019 – Four individuals arrested in the Kent and Sussex areas. All four individuals are released pending further investigation.

18 March 2019 – SFO announces investigation into LCF.

19 June 2019 – An individual was arrested in Sussex and was then released pending further investigation.

19 February 2024 – Civil proceedings brought by the Joint Administrators of LCF against the company’s executives and others commenced at the High Court. The case was heard by Mr Justice Miles. The SFO is not a party to those proceedings. A judgment was handed down in November 2024.

14 November 2024 - A judgment was handed down by Mr Justice Miles in the civil proceedings brought by the Joint Administrators of LCF.

The SFO investigation in relation to individuals associated with LCF remains ongoing. The investigation remains active with a number of staff including investigators, lawyers and accountants working on the case.

See our past press releases under “News” on the SFO’s National Archives page.

Information for investors

The SFO’s investigation and the civil action brought by the Joint Administrators are separate matters. The SFO cannot comment on the civil trial or matters associated to that litigation; any related queries, including those about compensation, should be directed to the Joint Administrators, S&W (formerly Smith & Williamson LLP and Evelyn Partners). Please visit the website of the Joint Administrators.

In February 2022, the SFO was made aware that LCF headed letters and emails have been sent to LCF Bondholders purporting to be from a director of the company. These communications refer to ‘lodging claims’ and that failing to take action will result in a loss. The phone number quoted in the emails and letters can be found on a website which the Financial Conduct Authority warns is unauthorised, and any emails from info@londoncapitalfinanceuk.com are not authorised by the Joint Administrators of LCF. LCF believes that scammers may also be cold-calling bondholders.

Please be extremely wary of any contact that isn’t directly from the Joint Administrators. If you are unsure, please visit their website for further information.

Support for victims and witnesses

If you have been impacted by this case and need support, please see this page for information on support services available to you.

Updates to this page

Published 29 November 2024 Last updated 2 February 2026 show all updates
1.
2 February 2026

Added: The investigation remains active with a number of staff including investigators, lawyers and accountants working on the case.
2.
29 November 2024

First published.
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