Tag Archives: godfrey bloom

Godfrey Bloom finance firm ‘gave dodgy advice to pensioner’

Godfrey Bloom with UKIP conference programme

A firm of financial advisers owned by controversial former UKIP MEP Godfrey Bloom has been slammed with yet another censure from regulatorsjust weeks after it was landed with a £2.1 million redress bill for bad advice to clients.

TBO Investments, in which Bloom owns a controlling stake, advised a pensioner to put £50,000 in risky mining funds and overseas equities. The recent multi-million redress bill also related to reckless advice given to a couple wanting support in their retirement.

The Financial Ombudsman said of recommendations given to a ‘Mrs Q':

“Given Mrs Q’s circumstances I am not persuaded that TBO’s assessment of her attitude to risk was likely to have reasonably reflected the level she would have wished to take with her money.

“The reliance upon equities of the initial recommendation left Mrs Q’s capital at risk of considerable volatility… I am not persuaded that the recommendations made by TBO were consistent with her likely attitude to risk, not with her needs and circumstances at the time.

Did we mention Godders was UKIP’s economics spokesman?

FROM THE ARCHIVES:

Godfrey Bloom’s finance firm ‘facing bankruptcy’ over £2m legal bill

  • Finance advisers owned by ex-MEP backed dodgy investments
  • Bloom’s firm ‘left couple to face ruin in their retirement’
  • Firm director sacked legal team, then ‘claimed to be sick’

Godfrey Bloom

A firm of financial advisers owned by controversial former UKIP MEP Godfrey Bloom could be facing bankruptcy after losing a £2.1 million case in the High Court. TBO Investments — in which latest records indicate the party’s former economics spokesperson owns a majority stake — has been ordered to cough up the money after making negligent recommendations to two clients.

Andrew Mohun-Smith said of the dodgy advice given to him and his wife in 2007 and 2009:

“I relied upon [Godfrey Bloom's firm] to put in place investments for us that would provide a reliable and comfortable standard of living for the rest of our lives.

“However, to my complete horror, it has become clear that nearly all our money was placed in unregulated collective investment schemes which have been suspended with an almost complete loss of capital.”

The York-based company may be familiar to readers after we exposed Bloom’s ownership of the firm — which had already been fined £28,000 over risky investment practices — during his failed 2012 bid to become a police commissioner. After an utterly cack-handed attempt to deny links with the company fell on its face, Scrapbook forced the controversial MEP to update his entry on the European Parliament’s register of interests as he was also sitting on one of the EU’s top finance committees.

Reports indicate that TBO’s director sacked their legal team just days before the case was due to start, and was planning to represent the firm himself before claiming he was too sick to attenda plea dismissed by the judge.

Reaping what he has sowed — it looks as though it is Bloom’s retirement earnings which could be taking a hit.

FROM THE ARCHIVES:

Nigel Farage intervened on e-cigarettes after £31,000 donation

Nigel Farage smoking

The FT’s chief political correspondent has taken some time out from remixing Nigel Farage speeches to skewer the UKIP leader on a blatant conflict of interest. On the day the Europe was due to legislate on e-cigarettes, Farage appeared on YouTube slamming the move — after the party had received £31,000 in donations from a manufacturer of the tobacco substitutes.

With refillable e-cigarettes facing a ban by the Commission, UKIP had received £25,000 from Pillbox 38 Ltd and another £11,000 from its founder. Farage gushed of the challenge to the single-use electronic fags produced by Big Tobacco:

“But into this vacuum have [come] a whole host of entrepreneurs producing these kind of things, with refillables … and these things are remarkable!”

This will have a familiar ring to regular Scrapbook readers. UKIP’s arms-length MEP Godfrey Bloom served on one of Europe’s top finance committees while failing to declare that he had a controlling stake in a firm of independent financial advisers. The Yorkshire and Humber MEP was also all over the media and YouTube defending the interests of the sector:

Bloom then lied about his arrangements after Scrapbook spilled the beans — before rushing to amend his declaration of interests with handwritten scrawl. Armed with documents to prove the case, this blog then approached a number of MEPs’ offices to bring an official complaint against Bloom but none were interested.

And the main parties wonder why UKIP has suddenly become a problem.

Godfrey Bloom reprimanded for ‘hang the Commission’ speech

Godfrey Bloom with UKIP conference programme

Disgraced UKIP member and MEP Godfrey Bloom has been censured for a speech claiming that it would “be right” for European Commissioners to be executed. Addressing the European Parliament on 21 November last year, Bloom ranted:

“You are going to find that Eurosceptics are coming back [after elections] in June in ever greater numbers. And I can tell you worse: as the people get your number, it will not be long before they storm this Chamber and they hang you, and they will be right.”

Condeming Bloom for “publicly supporting the commitment of a crime such as murder”, parliament president Martin Schulz soon discovered that Godders doesn’t do sorry:

“I don’t take back a single word of my one minute speech and this official EU response just demonstrates how full of their own self-importance they really are. I shall carry on saying what I believe and will face the consequences.

At least he was sober at the time.

Too crazy for UKIP … but Cambridge Tory boys lap up Godfrey Bloom

Godfrey Bloom with UKIP conference programme

Godfrey Bloom’s brand of sexism and xenophobia may have rendered him unwelcome in the European Parliament group meetings of his own party — but apparently not at gatherings of young Tories.

Bloom was praised by Cambridge University Conservative Association (CUCA) after he told their members on Monday evening:

“Welfare is the cancer of the nation”

And to laughter when discussing the honours system:

“This is the problem. You want your wife, Sharon, to be Lady Sharon. You want it for her, for being a nice little wife – you’ve not cheated on her. Much. People will sell their souls for an honour.”

CUCA chairman James Mottram — who definitely owns a pair of red trousers — gushed:

“Godfrey Bloom was a fantastic speaker and I am very proud CUCA was able to play host to him last night … I have received nothing but positive responses from those who were actually there”

There were five sluts, ahem sorry, women at the forty strong meeting.

Same old UKIP: Bloom successor says it’s okay to call women “sluts”

UKIP's Godfrey Bloom and Jane Collins

With shamed MEP Godfrey Bloom standing down for UKIP in Brussels (though not as a party member) his successor in the European Parliament will almost certainly be Jane Collins, who is #1 on their list for Yorkshire and North Lincolnshire.

If you’re hoping that Collins’ gender would indicate less regressive social views, you’re going to be disappointed. She tells the Hull Daily Mail of Bloom:

“I am pleased he has not left the party, he is being incredibly supportive.

“As for the ‘slut’ remark, I was there and everyone in the room took it as a joke.”

So that’s okay then.

Did we mention that she was his election campaign manager?

Godfrey Bloom: ‘I would have hospitalised Michael Crick’

Godfrey Bloom Michael Crick

Interviewing disgraced ex-UKIP MEP Godfrey Bloom, a wily anchor from YouTube channel ChatPolitics lures the MEP into thinking the cameras have stopped — before popping a killer question about how hard he had whacked Michael Crick (VIDEO) with a conference brochure.

Bloom promptly tied the rope he had been offered into a noose:

“I used to box lightweight in the army and I can tell you, if you think that’s brutal, when I was [younger] he would still be in hospital.”

In fairness to Crick, it was Godders that ran away from their exchange.

Godfrey Bloom: ‘Ban unemployed and public sector workers from voting’

Godfrey Bloom on LBC

Disgraced former UKIP MEP Godfrey Bloom tells LBC that the generational unemployed and public sector workers could be banned from voting:

“If you haven’t done a hand’s turn and neither have your parents or your parents’ parents then I can’t actually understand why you should be able to vote on the administration.”

The former UKIP economics spokesman — who has previously claimed he wants thousands of jobs to be lost in the public sector — went on:

“Another thing I think perhaps we need to look quite closely at is those in the public sector because those in the public sector naturally vote for increases in pensions and benefits in the public sector.”

At the time of writing he’s still on air. You can listen live here.

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