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Just how much financial trouble is broker Novum in and how did it manage to feck it up in this market?

Tom Winnifrith
Tuesday 11 August 2020

Broker JubCap, whose financial woes we exposed here, is now in administration. It is an ex broker and not one that the world will miss. So who is next? Well, all the signs are that Novum, the bucket shop which employs king spiv Jon Bellis and has Gavin Burnell of Globo infamy working there even though he is not authorised to do so by the FCA, is in the merde. I suggested 66 days ago that its financials were so bad that the FCA needed to have a look and, for once, it seems the chocolate teapots have done more than that, acting on what I exposed. I count this as a win for the Sheriff so it’s ouzos all round at the Greek Hovel today.  But how is Novum in such a mess?

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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