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Pennpetro may survive: this issue is whether ex directors including David Lenigas go to jail or get a stockmarket ban

Tom Winnifrith
Friday 20 June 2025
I was a bear of Pennpetro (PPP) from the day that it came onto my radar when Big Dave Lenigas joined as chairman of what was an insolvent crock of shit. The shares are suspended amid clear evidence of fraud and a financial crisis. Now it looks as if Pennpetro will survive although shareholders are going to get diluted to buggery and will lose their shirts. The big question is whether the FCA will investigate whether Lenigas and ex CEO Tom Evans profited from fraud and will they do anything.

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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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