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Would you invest in a company that told lies?

Tom Winnifrith
Wednesday 15 May 2013

I was going to dedicate this blog to a well-known City fella who does not honour his debts. He happens to be Welsh but apparently if I use the phrase’ welshing’ on your debts these days you get done for racial aggravation and fined £150 quid. Heck, in for a penny in for a pound but not here sadly. Your esteemed editor thinks I should expose this POS and his employer elsewhere and so I shall. But it begs the question would you invest in a company that you know has told a porky?

Now you might think that no listed company would do such a thing. It is after all against the rules laid out very firmly in the AIM rule book that company’s on the cesspit market must ensure that every RNS issued is true and verifiable. As such, if a company misleads investors or actually tells a lie it would be booted off or publically censured and thus this would be a terribly rare occurrence. Well think again!

I can remember just one company that I have “embraced with my tender love” which was publically censured by the authorities for telling porkies. As it happens, that company was privately censured as a result of my investigation in 2006 but it was only two years later when it sinned again that the FSA finally got around to giving it a public rebuke. That company was 3DM, now known as Environmental Recycling Technologies (ENRT). But its directors from 2006 are still in place. It still raises money to fund its dreams and so other than having its bottom spanked in public it has sailed on as before.

Now, I could list a number of companies which I have shown quite clearly to have misled investors via RNS announcements just in the past few weeks

on Spreadbet Magazine | Comments
About Tom Winnifrith
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Tom Winnifrith is the editor of TomWinnifrith.com. When he is not harvesting olives in Greece, he is (planning to) raise goats in Wales.
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