THE founder of the loans company Amigo is making another attempt to return to the business.

James Benamor said he would make an announcement after the Stock Market closed on Friday.

The episode is the latest in a succession of twists involving the Bournemouth-based lender, which lends money at 49.9 per cent annual percentage rate to those who can find a guarantor for their loan.

Writing on Twitter, Mr Benamor, the chief executive of the investment vehicle the Richmond Group said it would “release our announcement regarding my proposed return to Amigo” after the close of trading.

“I want to give the board time to digest and respond before Monday morning so that the market has as little uncertainty as possible,” he added.

Amigo’s founder quits – and launches attack on the company

Mr Benamor, 43, founded Amigo in 2005 and was once declared the richest person in Dorset. But this year, the Sunday Times Rich List estimated his fortune had dropped by £501million to £299m. It said his stake in Amigo was worth about five per cent of the value it had when the business was floated on the stock market in 2018.

Richest people in Dorset and New Forest on Sunday Times list

Mr Benamor left the company’s board that year but came back in December 2019.

In March this year, he resigned again as a non-executive director of Amigo and accused it of “slow motion suicide”.

He said Amigo should have challenged a crackdown by the Financial Ombudsman Service rather than “refunding almost all complaints receive” while continuing to lend on a “virtually unaltered basis”.

“Within one year of my stepping down from the board, the most efficient company in the FTSE 250 has become a cash cow for consultants, lawyers and suits,” he wrote then.

Amigo insisted some of his claims were inaccurate.

In April this year, Mr Benamor attempted to oust all the directors of Amigo. When he failed, he pledged to sell his 61 per cent stake in the business, although he is still reported to hold 17.7 per cent.

Amigo boss Glen Crawford returning to the business

Mr Benamor has indicated he could support Glen Crawford, who was recently brought back to the company as chief executive, barely a year after leaving to undergo medical treatment.