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Maine Finance – New Information on how a Quindell Subsidiary is failing and frauding as the cash runs out

Tom Winnifrith
Tuesday 10 February 2015

Last week I stated that Maine Finance, a Quenron subsidiary which has racked up a £5 million overdraft so that it can lend money to other Quindell operations had basically stopped paying lead suppliers because the cash has run out. Thanks to information from someone incredibly close to Maine I can now give you the full story. This is symptomatic of what is going on across the Quenron group because there is no cash. 

Maine was started by two men James Eneas and Tony Smith in 2012. With a third investor they set up the operation in 2012 as QSM (UK) Ltd otherwise known as Quotesupermarket.com. Each owned a third of the business. Quindell bought Maine Finance and took the option to buy James and Tony's share in Quotesupermarket.  

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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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