Tony Hetherington is the Financial Mail on Sunday’s star investigator, battling readers’ corners, revealing the truth behind closed doors and winning victories for those left penniless. Find out how to contact him below.
Mrs. PT writes: I made an inquiry online, looking for an Isa. I received a phone call from Nicholas James Finance Ltd, based in Canary Wharf, east London, offering me an investment in whiskey casks.
I made the investment and everything seemed fine.
The same salesman then called back several times and suggested I might be interested in investing in Linc Drinks Ltd.
Whiskey was mentioned again and I invested £30,000, which I was told was the minimum.
I thought everything was fine until I received a message about your article on Linc Drinks.
Not so easy: boss Ashley Wilkinson
Tony Hetherington replies: In October, I warned that Linc Drinks was offering loan bonds to raise £3m, with the company predicted to be worth £150m by December and could be acquired by drinks giant Diageo, which owns Guinness. I said then that this was complete nonsense and I say it again today.
He didn’t even know that his money was going into loan bonds, which are nothing more than promissory notes that can then be converted into shares in Linc Drinks, which is not listed on the stock exchange. You thought they were offering you more barrels of whiskey.
And they should never have offered him loan bonds anyway. Nicholas James Finance is not authorized by the Financial Conduct Authority (FCA) to sell investments to the public. Legally, you can only use a loophole that allows you to deal with people rich enough or experienced enough to take big risks. When I explained this to you, you told me: ‘They didn’t ask me anything about my financial situation, whether or not I am a high net worth person or whether I have enough experience to judge the risks I was taking.’ If I knew I could face a total loss, I would never have invested.
He tried calling Jack Blackburn, the salesman at Nicholas James Finance, but got no answer. She contacted the owner of the investment company, Ashley Wilkinson, and he told her that Blackburn had left the company after being suspended.
Wilkinson is a business partner of Amit Kochhar, who was involved in setting up Linc Drinks’ loan bond marketing. Kochhar was also behind the sale of loan notes in cannabis company Cannadex. Cannadex investors complained when interest was not paid and were later told their loan notes had been converted into unlisted shares. Does this sound familiar?
I told all this to Ashley Wilkinson but she had no comment. You are not the only investor who has dealt with Nicholas James Finance and been sold Linc Drinks loan bonds without being asked about your investment experience. One told me: ‘I never received any kind of warning about investing. They told me that all the money was safe and on bail.
The FCA told me: “We prohibit the mass marketing of these high-risk products to ordinary investors as they are only suitable for experienced investors who understand the risks and those who can afford to lose all the money invested.”
The FCA rarely names companies as the subject of its investigations, but has made an exception in the case of Nicholas James Finance. A spokesperson said: “We are actively investigating this case. We would welcome any evidence from concerned investors.”
I have provided some evidence to the FCA and will now provide more. Anyone who has dealt with the Wilkinson firm and is concerned about their money, please visit fca.org.uk/contact and report your experience. And watch this space because my own investigations continue too.
Why did my Isa payment disappear?
KH writes: I opened an Isa with Cynergy Bank and paid £15,000. I wanted to add another £5000 but couldn’t log in with the account details the bank gave me.
I called Cynergy and they said I could transfer £5,000 from my bank. I made the transfer, but I didn’t receive acknowledgment so I called again.
They told me I hadn’t answered their security questions correctly, so I still don’t know where my £5,000 has gone.

Lost money: Failed security question makes finding £5,000 difficult
Tony Hetherington replies: You told me that you knew the answers to all the personal security questions, so you suspected there was something wrong with the user’s identification. You knew that your own bank had sent the £5,000.
I asked Cynergy to explain. One of the security questions he was asked was: ‘How much is in your Isa?’ You answered £15,000. But the person he was speaking to knew it contained £20,000 because Cynergy had received his extra £5,000. So the question you wanted to ask about the balance was the one that caused the problem. Cynergy tells me they have contacted you to set up digital access.
If you believe you are a victim of financial irregularity, please write to Tony Hetherington at Financial Mail, 9 Derry Street, London W8 5HY or email tony.hetherington@mailonsunday.co.uk. Due to the large volume of inquiries, it is not possible to provide personal responses. Please only send copies of the original documents, which we regret cannot be returned.
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