New Capital Link: Fake Offices and False Impressions

For many months, we’ve been writing about New Capital Link (NCL), a London-based company that promotes unregulated investment schemes. So far, our articles have examined many different elements of the New Capital Link story, including:

• Negative investor experiences
• The Clean Food Growing Company
• The Ashbrookes Group
• Troubled projects, such as William Jackson’s loan note opportunities
• Questions surrounding the roles played by Rachel Buscall and convicted financial fraudster James Baird / James Harper

Individually, these pieces might easily be dismissed as noise or coincidence, but together they form a pattern. And then, in January 2026, an article appeared in the best-selling news and current affairs magazine Private Eye (Issue 1667).

In the story titled Fake It to Make It, investigators analysed various aspects of New Capital Link, including the company’s:

• Addresses
• Image to potential investors
• Marketing of high-risk investments

According to the article, NCL’s social media posts showcased the entrance to high-end offices, suggesting a large, established corporate presence. Other images focused on the stylish branding above the glass doors at the building’s entrance.

False Impressions of the Office

However, deeper scrutiny of the company’s actual operations revealed that New Capital Link frequently used serviced or virtual office addresses. Furthermore, investigators found no evidence of a permanent physical office to match the images presented.

Consequently, the magazine’s reporters determined that NCL had promoted images of attractive offices in Chelmsford that did not reflect reality. In other words, the impressive offices were, at best, marketing fiction.

Investigators also spoke to a receptionist who confirmed that New Capital Link only had a virtual office arrangement. Ironically, the strangest part of this saga may be the mystery surrounding the exact location of NCL’s place of business.

Previously, the company used multiple addresses, including serviced offices and a London address. While that’s hardly concerning, NCL also faced issues around its registered office and Companies House filings, including a strike-off notice unless a valid address was provided.

The Private Eye article highlighted how New Capital Link promoted high-risk property-bond style investments without emphasising:

1. The dangers associated with these types of investments
2. These types of investments are not regulated by the Financial Conduct Authority (FCA)

New Capital Link: Fake Office

NCL markets unregulated investment schemes and introduces ordinary investors into loan-note and property-linked deals where there is no FCA protection. In that world, investors rely heavily on the credibility of the introducer.

For evidence of stability and trustworthiness, most investors look at how the company presents itself. They’ll observe:

• The office
• The employees
• Their professionalism

In the world of unregulated investments, credibility is everything, and trust comes from perception rather than supervision. Investors judge what they see: a polished website, confident marketing language, reassuring people, and a professional-looking office.

These details create an impression of scale and permanence that can make an investor feel safe enough to proceed. Under the circumstances, images used to create a false impression might naturally lead to questions about how investors were persuaded.

Nevertheless, the significance of the office story is ultimately symbolic and illustrates how:

1. Credibility can be constructed in the unregulated investment world
2. Investors can be persuaded by appearances long before they understand the risk

Relevant NCL stories

Insolvency & Law (I&L) has previously reported on several relevant stories, including Enablers New Capital Link – Part 1. That blog examined how NCL operated within a wider network of people who helped unregulated investment opportunities appear more credible.

We also identified CEO Rachel Buscall as the public face of the business and examined investor accounts that:

• Described high-pressure introductions into loan-note deals
• Raised serious concerns about NCL’s association with James Muir Baird, also known as James Harper, who’d previously been convicted and jailed for boiler-room investment fraud offences involving false identities and fraudulent accounts targeting investors

Shortly after publication, our website suffered a cyber-attack. We suspect this was retaliation for exposing links between Baird Harper/ and NCL investors. In a subsequent blog, New Capital Link – Covering Their Tracks, we described how NCL appeared to be:

1. Altering its website
2. Reshaping its online presence
3. Removing references to certain individuals

We argued these actions suggested a company trying to manage its narrative rather than address the substance of investor concerns.

NCL and William Jackson

Interestingly, many of the latest NCL blogs focus on ventures linked to UK-based company director William “Bill” Jackson. Our investigations into Jackson and his related companies uncovered a network that left investors facing missed payments and redemptions.

Jackson and some of the businesses linked to him raise millions from retail investors through unregulated loan-note schemes built on:

• Recycled assets
• Weak security arrangements
• Complex corporate structures

Crucially, we documented how New Capital Link actively introduced their clients to several Jackson-linked opportunities, despite clear warning signs. These actions simply reinforced our conclusion that NCL’s introducer model repeatedly steered investors into high-risk schemes.

I&L‘s blogs on Jackson’s schemes can be found here, and we have two additional articles that offer further insight:

1. Ashbrookes Group Limited / John Street – New Capital Link
2. The Clean Food Growing Company – New Capital Link – Blatant Fraud?

Here, we exposed how two investments introduced through New Capital Link shared the same fundamental failures. The Ashbrookes investigation uncovered serious concerns about the structure, ownership and investment projections of the John Street project.

Likewise, an investigation into the Clean Food Growing Company revealed how the opportunity was presented to investors as credible and backed by an association with author and entrepreneur Duncan Bannatyne (best known as a former panelist on popular BBC TV programme Dragon’s Den).

However, Bannatyne denied having ever heard of the company. As a result, we were forced to conclude that NCL had relied on perception and presentation rather than genuine credibility.

Private Eye and Puzzle Pieces

When considered alongside the supplementary evidence, the Private Eye article is just another piece of the same puzzle, and highlights:

1. The increasing gap between image and reality
2. How presentation may have been used to create confidence in a company introducing high-risk investments
3. Exactly why I&L continues to ask tough questions regarding New Capital Link‘s promotional activities and the people behind them.

Insolvency & Law is actively investigating New Capital Link and working to hold individuals and networks accountable for damage caused. We urge you to email us at investigations@insolvencyandlaw.co.uk if you or someone you know has been affected by:

• Rachel Buscall
• New Capital Link
• William Richard Jackson
• James Baird / James Harper
• An unregulated investment scheme

Disclaimer: Insolvency & Law Ltd is not a firm of solicitors or licensed insolvency practitioners. We do not conduct any regulated legal or financial activities as defined under the Legal Services Act 2007 or the Financial Services and Markets Act 2000. We do not offer legal advice, financial advice, debt counselling, or conduct of litigation. All blogs, podcasts, reports, and other published content by I&L are provided solely for general information and educational purposes. They should not be interpreted as a substitute for regulated or professional advice and must not be relied upon as such.  For matters that require regulated legal or financial advice, we recommend seeking guidance from an appropriately authorised and regulated professional.