Basic Prime Limited, a company incorporated in October 2023 and claiming to provide trade finance guarantees and credit enhancement services, has been wound up in the High Court in London on 25 November 2025 following investigations by the Insolvency Service. The company had no genuine business presence at its registered office in Croydon and failed to provide contact details or respond to enquiries. After a client paid an upfront fee of $231,000 (about £175,000) in May 2024 for a standby letter of credit, Basic Prime Limited did not deliver the promised guarantee and ceased communication by September 2024. Investigators found that the company’s registered share capital had not been paid and that it had no banking relationship with the bank it claimed to use. The Official Receiver has been appointed liquidator. Inquiries should be directed to the Public Interest Unit.
© Crown copyright, 2024, GOV.UK.
Summary adapted from content licensed under the Open Government Licence v3.0.
For details, see https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/.
Original source: https://www.gov.uk/
https://www.gov.uk/government/news/finance-company-shut-down-after-investigators-uncover-fraud-concerns
Made by AI. If you spot anything of concern write us at contact@cybach.com. We’ll promptly correct irregularities.