Rachel Buscall: The Cake Seller, the Convicted Fraudster, and a £70,000 Scandal That Refuses to Disappear

Rachel Buscall presents herself as an award-winning entrepreneur. A smiling CEO promising “safe alternative investments” to high-net-worth savers. On the surface, it all looks convincing. Professional. Trustworthy.

But peel back the glossy image, and another story emerges, a story of failed businesses, fraudulent partnerships, and a growing number of investors left with nothing.

The Cake Business That Never Was

Buscall has claimed she built and sold a thriving cake company, Buscall & Flynns Ltd, before returning to financial services. The kind of entrepreneurial success story that inspires confidence.

Unfortunately, the facts tell a different story.

Companies House records show that the business was incorporated in 2015 and dissolved in 2019. There is no record of a sale. No evidence of a buyer. Final accounts reveal the company was insolvent and closed down with debts.

The so-called “triumphant exit” never happened. The business quietly failed, but the myth lived on.

The Fraudster Behind the Curtain

Every successful illusion needs a good supporting act. In this case, that role is played by James Baird, also known as James Harper, Buscall’s long-term associate and the father of her child.

In 2009, Baird was convicted at Southwark Crown Court for conspiracy to defraud. He ran a boiler room scam that stole over £1.3 million from unsuspecting investors, many of them elderly. He was sentenced to six years in prison.

Yet, despite this criminal conviction, Baird reappeared alongside Rachel Buscall at New Capital Link, a company offering high-risk, unregulated investments to so-called “sophisticated investors.”

In a call with Insolvency & Law, Baird openly described Buscall as “the retired copper’s daughter, the perfect front.” A friendly face designed to lend credibility to investments that were anything but safe.

No Qualifications. No Experience. But Always Selling

To our knowledge, Rachel Buscall holds no formal financial qualifications and has no background in regulated retail investments. Yet she fronted a company that introduced investors to high-risk bonds and mini-bonds that later collapsed, leaving people with devastating financial losses and no safety net.

While we cannot confirm that New Capital Link introduced every investor whose loan notes were later assigned to Insolvency & Law, the pattern is impossible to ignore:

• The same individuals
• The same sales tactics
• The same failed products
• And the same tragic outcome

Time and again, Rachel Buscall’s name appears in the networks surrounding these schemes.

A Verbal Settlement. Then Silence.

In May 2025, Billy Jackson, another key figure in this web, entered into a verbal agreement with Insolvency & Law to settle outstanding liabilities linked to defaulted loan notes. The agreed figure was £80,000, reflecting the scale of investor losses and the financial benefit enjoyed by those who promoted the schemes.

And then nothing. No signature, payment, or follow-up.

Rachel Buscall, despite her visible ties to Jackson, Baird, and others linked to these collapsed investments, has remained silent. No accountability. No explanation.

From Mini-Bonds to Muscle: A New Beginning or Just a New Front?

With growing scrutiny around unregulated investments, Rachel Buscall appears to be shifting direction. She has publicly claimed ownership of an F45 Training franchise in Chelmsford, a fashionable fitness gym aimed at professionals and entrepreneurs.

On the surface, this has nothing to do with financial services. But the question remains: is this simply the next environment for sourcing wealthy contacts and introducing new opportunities? Because in this world, the faces may change and the setting may shift, but the playbook stays the same.

This Is Not a One-Off. It’s a Pattern.

What’s unfolding here is not an isolated event. It’s a pattern of behaviour:

• Failed businesses rewritten as success stories
• Strategic partnerships with convicted fraudsters
• High-risk investments dressed up as safe alternatives
• Complete silence when the schemes inevitably collapse

Buscall may claim to be just an introducer, not an adviser. But when you are the public face of the brand, when your business partner is a  known fraudsters, and when ordinary people lose everything, questions will, and must, be asked.

The Human Cost: Why This Matters

Behind the polished websites and financial jargon are real victims: pensioners, workers, parents, people who were told their savings were safe, only to see everything vanish.

Their stories deserve to be heard. Their losses deserve justice.

Join the Fight for Accountability and Recovery

Insolvency & Law is actively investigating these cases and working to hold individuals and networks accountable for the damage caused.

If you or someone you know has been affected by New Capital Link, Rachel Buscall, James Baird, Billy Jackson, or other unregulated investment schemes, we urge you to come forward.

 investigations@insolvencyandlaw.co.uk
insolvencyandlaw.co.uk/investigations

Your voice matters. Your evidence could help stop the next scandal before it starts.

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.