Regular readers will be familiar with Alan Mak, the new Tory MP whose election bid featured so many lies and exaggerations that Scrapbook had to create a spreadsheet to keep track of them all.
Along with his legal career — Mak falsely claimed to be “department head” at a top law firm — a central plank of his appeal was his track record as an “award-winning businessman”.
“Business success. Started & [sic] now run my own successful business investing in technology & retail companies”
The website of Mak’s Spirepoint Group (not a company group) claims that his firm provides “growth capital” to other companies:
“We provide strategic advice and growth capital to some of the world’s most successful and exciting organisations and entrepreneurs.”
Given the claims on his candidate CV and company website, one might expect evidence of “growth capital” investment to appear on the balance sheet of accounts filed with Companies House just before Christmas.
Or perhaps not. The only assets listed are £37,000 in cash, offset by £24,000 in debt falling due within the year.
So where are the investments in “successful and exciting” businesses?
Mak has now appeared to backtrack, issuing a statement to Scrapbook which could suggest that investment from Spirepoint (which has now ceased trading) was not a matter of fact but merely a “service … available to clients”:
“Spirepoint has had a successful and profitable first year as our accounts show, and all the services stated were available to clients.”
Nice website, though.