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back to article Capita forced to pay out £66m to investors over Connaught fund farce

Capita's investment business has been forced to pay up to £66m to investors by the Financial Conduct Authority (FCA) over its handling of the collapsed Connaught Income Fund. The Connaught Income Series 1 Fund opened in March 2008 and provided short-term bridging finance to commercial operators in the UK property market, and …

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  1. Anonymous Coward
    Anonymous Coward

    Crapita

    Strike again. These shower of shits are also responsible for relentlessly spamming people with their services. I wouldn't touch them with a barge pole.

    6 0 Reply
    1. Lefticus Left
      Reply Icon

      Re: Crapita

      The Irony of this happening to a company who's nucleus was a spin-off of the CIPFA should be lost on no-one!

      2 0 Reply
      1. Anonymous Coward
        Reply Icon
        Anonymous Coward

        Re: Crapita

        Surely the inevitability of this happening to a company who's nucleus was a spin-off of the CIPFA should be lost on no-one?

        Public finances aren't really the sort of place you'd look for prudence and deep competence. Maybe I'm being harsh, and the bean counting problems at (say) MoD are due to there not being enough public finance accountants?

        0 0 Reply
  2. BebopWeBop
    Devil

    CAPITA

    screw up and losses in one short article - who would have thunk it?

    0 0 Reply
  3. Terry 6 Silver badge

    Bouncy

    Somehow Crapita can screw up time and time again, but they still bounce back and get new contracts.

    0 0 Reply
    1. Anonymous Coward
      Reply Icon
      Anonymous Coward

      Re: Bouncy

      Because some CEOs looking for outsourcing are idiots

      0 0 Reply
    2. Fruit and Nutcase Silver badge
      Reply Icon
      Joke

      Re: Bouncy

      More incentivisation in the TV Licence fee collection will no doubt help address any effect this will have on the bottom line

      0 0 Reply
    3. macjules
      Reply Icon

      Re: Bouncy

      Possibly because £66m is nothing to them: they can just load that onto the existing MoD Army Recruitment contract

      0 0 Reply
  4. Voland's right hand Silver badge

    Capita normal modus operandi

    This case pretty much describes Capita normal modus operandi. Anyone surprised?

    0 1 Reply

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