By Tom Winnifrith | Wednesday 16 May 2018
Some days ago the Winnileaks service demonstrated how the cash crisis at Julie Meyer's Entrepreneur Country had forced it to attempt to sell on an R&D tax credit claim - effectively borrowing at an 163% annualised rate - just to pay its bills, HERE. It gets more interesting with a new bombshell disclosure which, I gather, was passed to the HMRC, FCA, ActionFraud and the Metropolitan Police two weeks ago with a request to investigate.
It seems that conventional lenders did not play ball however a HNWI (name redacted by me) did step forward and agreed to provide £100,000 (not the £115,000 Meyer had requested) but at a cost ( for six weeks ) of £33,000 - that is an annualised rate of 256%. The loan, I note, is due for repayment today. But as the document below shows the security demanded was not only the R&D tax credit - if it arrived - but also a charge on a London flat, the flat where Ms Meyer lives. Fair enough.
But hang on, according to the Times Ms Meyer had in 2009 lived in rented accommodation for many years. My sources within Ariadne insist that she continued to live the same rented flat - with Ariadne paying the rent - up until the present day. And as you can see from the land registry below, the owner of the flat - exact address redacted by me - is not Ms Meyer.
So how can she grant a charge on something she does not own? I am just a dumb journalist, this high finance is all way over my head, I am sure there is a rational explanation.
Below is the current extract from The Land Registry.
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