I have today written to the senior partner at KPMG, Mr Simon Collins, asking him to check whether there was undetected fraud in the 2013 accounts published by Quindell (QPP) and audited by his firm. By fraud I mean the payment of cash and shares to a long-time associate of Rob Terry to buy companies that were essentially worthless. Such payments would be fraudulent. The payments would also be fraudulent were it to be shown that the company had some value but nowhere near that paid and that the purchase price could not be justified.
The Letter Reads:
Quindell PLC audited by KPMG – has fraud occurred on your watch?
Dear Mr Collins.