Wellesley Reviews 1,011

You will have all seen the spate of bad reviews after the sharp practice / loaded CVA by Wellesley giving us small investors a raw deal. Basically buying their loan book back on the cheap while we bare the costs and are sold down the river. We have a facebook group to fight back, now over 200 members and rising. Please look and join Wellesley investors and help bring them to account.

I think people are giving 1 star just to be able to post?
maybe Trustpilot should make NO STARS available?

Sounds to me like mis-management by Wellesley, can we not claim compensation for this through FSC?

So apparently 94.7% voted for the CVA. I voted against and the numbers seem too high but obviously there is no way to check!!!

Ripped off investors to the tune of several millions through dodgy practices - avoid at all costs.

So the investors have voted heavily in favour of the Wellesley proposal. But wait a moment ... the result was "by value". So it isn't a democratic ballot - one person one vote - it's according to how much is invested by individuals! The big investors have voted in favour. No surprises there. Will we ever find out the result from the ACTUAL NUMBER of people voting and, in addition, the size of the holdings held by investors, including those voting in favour?

my wellesley mini bond mature on the 25th september and i have already given notice to withdraw. on the 22nd september, wellesley announce no withdrawal. can anyone help what to do.

If the actions this company have engaged in are not illegal or criminal they should be. Many of the previous posts giving one star do not need to be repeated.

With the voting deadline set for tomorrow night I thought I’d throw in my two penn’orth (well, £30K and two penn’orth). Wellesley have spent many months and many thousands of pounds of our money stitching up this CVA to provide the best outcome for them. There has been no effort to engage with investors or look out for their interests up to this point and I do not trust them to behave any more ethically going forwards. Let’s send them into administration and hope that every sorry detail of their recent activity is revealed. Vote NO.

JUST VOTED NO TO CVA

I voted NO
I think this should be investigated thoroughly

Worst type of investments in my life!
NO guaranteed returns plus loss of £20k investments 😭

Please join the growing Facebook group 'Wellesley Investors' to discuss options and gain further information as we discover it. Keep this group as widely advertised as possible. Bear in mind that voting for the CVA (ie Yes) lets them off the hook and avoids the Administration that the company fears. Their past transactions including the loan book sale will be analysed and the directors could well be held personally liable.

Money Box Radio 4 12.00 noon Saturday article about Wellesley. I have talked to the team at length and Wellesley are responding. No doubt carefully edited for legal reasons!

So sorry and my admiration to John Crossland and partner for voting No to the CVA. With 60K at risk. I feel you have done absolutely the right thing under extreme pressure Thank you. You have helped me come to terms with my situation. You are clearly lovely people.

Selling loan book to the directors at knock down price and we the bond holders footing the cost / loss

Vote no to CVA

So annoyed - I voted for the CVA today and then subsequently found this discussion. The sale of the loan book did not lie well with me, nor their insistence that the CVA was pretty much an investors only option. I encourage you to try and reach out to as many creditors as you can before they cast their vote as I certainly wish I had read this chain beforehand

Please join the growing number of disgruntled Wellesley investors on face book:
'Wellesley P2P Creditors 2020'

Just been online and voted NO with a request that they reverse the sale of the Loan book to Cloverleaf and also reverse the write-off of the Directors Loans

I have just voted against the CVA. Before I cast my vote I read the basic information, and parts of the full CVA. I confess before voting I was minded to vote FOR. However at the last moment, I thought I would explore online other people's views on the situation. Reading all the comments on here, has convinced me to change my mind. Looking back at the various documents, the company "over stresses" the importance of voting FOR, as they really don't want there to be vote against....obviously! Let's go to Administration, and hope GGW gets his cummupance! It will be a long haul no doubt, but hopefully justice will be served, and maybe the ultimate return will be better than the CVA.

the only 'constructive' thing about the CVA is that included in the CVA documentation, they have had to disclose all of the shady and underhand things they have got up to, including the sale of the Loan Book at a knock down price to 'one of their own' and allowing Directors to write off their Loans from the company which were used to enable them to buy shares. When the CVA is 'defeated' and then an Administrator is appointed, he/she will then have all the ammunition they will need to challenge the Directors to 'correct' these malfeasances,,,yeh