3307 days ago
Jimmyliar Ellerton, the disgraced former boss of Sefton Resources has been hoisted by his own petard and has now been told why he has no claims against Sefton Resources –it all goes back to the Gary Dillabaugh case and to some more recent issues with his – pro tem - trouble and strife, the foxy Carol.
You will remember that following a court case in Denver some years ago Jimmyliar was ordered to pay a seven figure sum back to retired Dentist Gary Dillabaugh. It was this case that brought Jimmyliar down since he had sworn under oath that Sefton was liable for his personal debts. He was either a perjurer or an embezzler and so was forced to quit in disgrace and shortly afterward the Sefton libel case against me collapsed.
However going back to the court case in 2008/9 Jimmyliar
3891 days ago
Jim Ellerton was toast the moment his sworn under oath deposition from Dillabaugh vs Ellerton fell into my paws. Late last night the 200 page transcript of that case arrived with myself and Dan Levi. We are still analysing it in full so won’t publish it yet but if Jimmyliar thinks it will could have saved him he is wrong.
As ever you really have to ask why Dan and I get documents that the AIM Team, and the fuckwits at Pinsent Masons do not have. Both have asked us to hand them over but how about for once the scumbags do the job they are grotesquely over-paid to do themselves rather than scrounging off poor journalists in such an unseemly fashion.
In court, as under deposition, Ellerton claims that he does need to repay monies he borrowed from Dillabaugh (and Dillabaugh’s young daughter Lisa) because of the offsets – benefits Gary received because Jim got him a job at Sefton.
3905 days ago
Anyone who invested £95,000 in Sefton Resources (SER) when it listed on AIM more than a decade ago would, if they tried to sell their shares tomorrow net £26.67 (before dealing costs). Meanwhile executive chairman Jim Ellerton lives in a multimillion dollar beachfront mansion in Hawaii. Thanks to fees, salary, “director cash advances” and share trades (not to mention loans from Gary Dillabaugh that he has not repaid) Jimmy has made around $7 million from Sefton since its IPO.
Chuck in NI payments, first class air fares to and from Hawaii for 13 years, 5 star hotel accommodation around the world at Sefton’s expense, the company car in Hawaii and the rest and Jim Ellerton has cost Sefton c$10 million. In light of this I offer you this picture and invite you to post suitable captions in the comments section below by 9 AM Friday or by when Sefton’s shares are suspended – whichever is sooner.
For what it is worth my entry is: “As he gazes from his bedroom window Jim Ellerton reminds himself that whatever his critics may say not all shareholders have lost everything.”
And remember that there is still time to win a Justice for the Sefton 2 T-shirt in the ShareProphets Jim Ellerton Gary Dillabaugh caption contest which you can find here.
3907 days ago
When did uber expensive Bully Boy City lawyers Pinsent Masons quit as Company Secretary to POS AIM listed company Sefton (SER)? We do not know. The Sefton website still showed the bully boys as Company Secretary earlier this week. But it has now stepped down (Nomad Allenby has confirmed this) to be replaced by IR genius Dr Michael Green.
The last man to be Co Sec and IR officer at Sefton at the same time was, of course, Colorado dentist Gary Dillabaugh. I have always wondered what sort of Doctor Michael Green was. Is he a dentist as well? Do you need a medical qualification to be the IR manager/Company Sec at Sefton? Questions, questions.
I wonder does Jim Ellerton also owe Doc Green hundreds of thousands of dollars? I suspect not but you never know in the crazy world of Sefton.
3910 days ago
I yesterday contacted the Serious Fraud Office and handed over documentary and other matters relating to Sefton Resources and Jim Ellerton. I have formally requested that the SFO launch an investigation into the activities of Mr Ellerton and Sefton in relation to Gary Dillabaugh and other matters in order to confirm that everything is above board. The SFO is now looking into what was sent.
Noting the board decisions made by Sefton in 2009 in relation to Ellerton and other matters I have also asked the SFO to investigate the actions of Sefton’s other directors and officers (including company secretary Pinsent Masons) in order to confirm that all of their activities are also above board.
Naturally one wishes to believe the best in all men & women and so I am sure that the SFO will find nothing other than a well run company governed in the best interests of its shareholders.
I shall keep you posted.
3910 days ago
Sefton (SER) has issued a trading statement. Given the widespread comment as to its (lack of) cash position you would have thought it would clarify that matter. Its failure to do so is damning. There is either a placing (heavily discounted – shall we say 0.25p?) looming or, in the very likely scenario that no placing can be got away, this company is toast. My calculations suggest that cash net of current liabilities/trade receivables is nil or worse – can Sefton clarify this as a matter of extreme urgency?
The company also declined to comment on the matters arising from the Gary Dillabaugh revelations of yesterday. Again one has to ask why? The answer: because it knows that there is no answer. Jim Ellerton has been rumbled and exposed.
And so what was said? The best I save to the end but…
3911 days ago
So far I have been nice to AIM Cesspit posterboy Sefton (SER) but now it is gloves off time as I reveal how Sefton boss Jim Ellerton swore on oath in Court in 2009 that he had cleared personal debts of hundreds of thousands of dollars using Sefton cash. And I have obtained and attach the document that verifies this shock revelation.
Jim could not even get that right. The Court rejected his evidence with the judge noting “defendant Ellerton’s testimony was not believable” and that “defendant Ellerton is not credible in regard to his testimony” but none the less the fact is that Jim Ellerton did not admit to using Sefton cash for personal matters, but swore on oath that he had done so.
The case is Ellerton vs. Dillabaugh, a Colorado dentist who loaned Ellerton over a period of years c$400,000 and was then made Sefton company secretary and IR manager.
3914 days ago
A difficult moment arose today as I returned my daughter Olivia to her mother Big Nose after a week in Kent. For some reason Big Nose was worried that I might humiliate her by wandering into her offices at Pinsent Masons wearing an inappropriate T-shirt, holding the hand of Dan Levi or just being a general embarrassment. For Big Nose is a partner at Pinsents, lawyers to the scumbags at Sefton who are accusing me of libel.
And so I arranged to meet her at Liverpool Street Station for the handover. Olivia and I arrived on time and called in but Big Nose was in a meeting. Then she had an urgent call and so I was instructed by her secretary to take Olivia over to the lion’s den, the global HQ of Pinsent Masons. Ooooo er. I could hardly contain my excitement.
3919 days ago
I reprint the pghoto below not out of vanity but in response to a request from a reader. It is of me posiing in our new must wear T-shirt, the Gary Dillabaugh special. You can of course buy your own Gary Dillabaugh T-short HERE
In answer to the reader's direct question: Yes we did clean the table after I stood on it. So post your captions in the comments section below. The deadline for entries is - as usual - 9 AM on Friday.
For what it is worth my entry is:
"With his drawings from Sefton last year Jim Ellerton could buy almost 17,000 of these T-shirts and have them shipped first class to Hawaii"
3924 days ago
Jim Ellerton of Sefton Resources still owes former Sefton Company Secretary Gary Dillabaugh $600,000 from a court case more than two years ago. It is Jim's defence in that case that will, IMHO, sink him but this is a story that is only just getting going.
The powder keg is under Sefton it is just a matter of when I choose to light the fuse. Hmmm I guess I shall let folks sweat a bit more and Sefton piss more cash away on its uber expensive City lawyers Pinsent Masons. After all my daughter Olivia's mother is a partner at PM and so naturally I want her firm to rake in as much as possible.
But as I prepare to go to Court today I have designed a breand new T-shirt for the occassion to remind the Sefton team of that powder keg.
3935 days ago
Ellerton vs Dillabaugh is a fascinating case. Jim Ellerton borrowed $400,000 from Gary Dillabaugh, a Colorado dentist who also seems to have been Company Secretary for Sefton Resources (SER). Ellerton refused to repay the loan. I described the other day how this went to Court and what the state of play is today.
But I now make a generous offer to Jim Ellerton.
3936 days ago
This came out yesterday but this story is, as they say, developing. There is more to follow. I shall be online solidaly within a day or so. Internet connection here is dire. But there is more to come...
I am staying in a Greek village where tomorrow I learn how to milk goats. There is no internet. But I have a phone and today I received a call from Gary Dillabaugh, the former company secretary of AIM Cesspit listed Sefton Resources (SER) which exposes Sefton boss Jim Ellerton as a chancer and a rogue.
I have been tracking down Dillabaugh for weeks and so getting that call is a moment I have looked forward to for some time. Hence, I have made my way to the seaside, borrowed a laptop and now reveal all. Just because I am on holiday the AIM bad guys should not sleep soundly.
What follows should be enough to question whether Ellerton is fit to run a public company.
3963 days ago
And...
Have you guessed the answer to question 1 yet? Hint it is a bit of a specialist subject of mine.
Oh no, I think I am a bit more hated in the City. Again. Cripes.
