The AIM Regulation Team have confirmed to me that they are already looking into my first formal request to investigate Nominated advisor Beaumont Cornish and its head honcho Roland “Fatty” Cornish. I have today formally requested that the regulators open up a second investigation into what appears to be yet another blatant failure by Fatty to do the job for which he is so generously rewarded.
This all related to a placing undertaking by Digital Learning Marketplace (DLM) , now Alpha Returns (ARGP) in August 2012. The Placing Document stated explicitly that if £300,000 was not raised then any money invested would be returned to investors. Fatty signed off on that placing document. However a subsequent RNS which Fatty again signed off on revealed that less than £277,000 was raised yet all that cash was kept by the company This appears to be a blatant failing by Fatty in his duties as a Nomad and in light of this I have asked the AIM Regulation Team what act of censure it proposes to take against the firm. The letter follows below:
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