I have today been passed secret documents sent by both the FSA and regulators at Plus Markets to advisors to disgraced scandal ridden US Oil & Gas. These documents make it clear that almost two years ago the authorities knew what was going on here but investors were not adequately protected.
The letter from Plus was send to US Oil & gas’s solicitors in Dublin and shows that even after a preliminary investigation it was felt that CEO Brian McDonnell was making statements and giving presentations without any wider board sanction which included statements that were simply not verifiable. In light of what we now know the reality is that they could not have been verified.
When US Oil & Gas was booted off Plus these issues should have been brought into the public domain by PLUS and by the FSA which (it is clear from the document I have seen) had also investigated this POS company. But
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