A former Premier League footballer, Alan Rogers revealed himself as one of the 8,000 affected investors from the Phoenix Community Capital. He lost around $50,000 from an investment after Phoenix Community Capital became a ghost in September.
Phoenix Community Capital seems to have disappeared after boasting about its connection with two all-party parliamentary groups (APPGs). The news spread a wave of panic among investors as the firm has claimed to have an $800 million valuation, feared to drown.
The reliable source states that Phoenix Community Capital went into radio silence mode in September 2022. Currently, the firm’s website is down and investors are unable to access their portfolio.
Currently, the company’s co-founder Luke Sullivan is cautious about his current status. While responding to reporters remotely, he slammed the British daily for factual inaccuracies and said he wasn’t being given a chance to clarify “real facts.”
Last year, the firm transferred £5,000 ($5,970) to the all-party parliamentary group (APPG) focused on blockchain. APPG is a group that works as the authoritative voice within the parliament on blockchain-related topics.
The incident raises concerns about the use of parliamentary support by companies. It sheds light on how companies can use politicians or celebrities to gain public acceptance.