I have investments in BurningNight and Amicus with Crowdstacker.
Crowdstacker keeps issuing updates which appear to be nothing but shady procrastinations as the months become years when they continuously promise to compensate, pay interest or pay capital back to their investors for BurningNight and Amicus.
I would not like to hazard a guess as to the multitude of investments Crowdstacker have failed their investors with. I myself only know of two investments, BurningNight and Amicus, as these are fortunately the only ones I invested in with them.
Suzy Jackson, Crowdstacker's Head of of Customer Services, wrote me a letter 3 days ago trying to justify Crowdstacker's failings.
I wrote back addressing Suzy Jackson:
"I shall draw your attention to some important parts in your letter.
You say, under My Decisions and Findings, ‘All borrowers undergo a strict due diligence process before we decide to list them on the platform. We also commit to stepping in and appointing an administrator where a company fails’.
You failed on both accounts.
Firstly, It is more than apparent that you did not subject BurningNight to the ‘strict due diligence process’ which you claim you followed and which resulted in the shambles of a situation in which you have placed your investors.
Secondly, you appear to have made a huge error of judgement In appointing Begbies Traynor as administrators, who obviously turned out to be untrustworthy by your own admission".
I also said to Ms Jackson that I shall pursue a course of action that would hopefully be effective in stopping or restricting Crowdstacker's practices and dealings which are appearing more and more suspicious. This last statement of mine fits very aptly with their so-far false promises and with their continuous delays in paying their investors back for the interest and the capital in the Amicus case.
Do not touch this very disappointing outfit.
Reviewed on: 30th November 2019
