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The Worthington Fraud Part 7 – back to European and Asian

Tom Winnifrith
Sunday 22 February 2015

Thanks to the tawnyport poster on the ADVFN Bulletin Board for flagging this up. Unlike the wankers at the FT I’m happy to give credit where credit is due. Part 8 of this series has a stunning email or two and is a bombshell but this helps set the scene. 

We return to Hong Kong registered European and Asian Ltd which shares an address with a firm where Craig Whyte is the authorised signatory.  European is the company that holds all of the equity of Mandolyn Ltd, which in turn receives Doug Ware's warrants in return for his CEO services.  European and Asian Ltd is also the sole shareholder of some other companies, including one called Renatus WRN Secured Loan Note Holders Ltd (sole director one Doug Ware). I flagged up the Renatus Red Flag yesterday HERE

The 30th June 2014 Annual Accounts for Renatus shows a total of £1 of cash at bank and in hand (the nominal value of the sole share held by European and Asian Ltd).  It's a dormant company with no assets, at least at that point.  It's not trading, so has no way of generating cash.

On 29th September 2014

on ShareProphets | 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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