David Webster

99 days ago

Does the FCA ever talk to the FCA: the 79th Group and First Class Metals debacle

The Times is today reporting that the FCA first reported its suspicions that the 79th Group was a ponzi fraud to law enforcement agencies eight months before it collapsed in May 2025 with a black hole of 200 million quid emerging. That means that by September or October last year it knew that the 79th was a con. However…

303 days ago

GOTCHA!: First Class Metals, bent chairman goes, funding crisis as ponzi 79th cannot back phase 2 placing

The amazing thing is that David Webster, the founder of ponzi fraud the 79th Group had been arrested as part of Operation Mold BEFORE he was appointed as chairman of First Class Metals (FCM), First’s board knew this as did scumbag advisor Novum but they went ahead anyway knowing that without the 79th taking its stake to 50% via a placing at 1.7p, First was bust. Today, after the weekend revelations, Webster has resigned with immediate effect.

330 days ago

SHOCKING EXPOSE: 79th Group – the hidden £43 million of UK trading losses, did nobody at the FCA, Novum or First Class do any due diligence?

The news broken HERE yesterday that the 79th Group appears to have been a scam might not have been such a surprise if the dubious quality advisers who persuaded their clients to lend them money if the advisers or their investees had done some research. The first major red flag is that 79th Grp isn’t registered with the UK regulator, the FCA. So it was conducting unauthorised investment business. How the feck did the FCA then approve a prospectus allowing to to seize control of First Class Metals (FCM). It gets worse.

330 days ago

BREAKING: First Class Metals PLC knowingly going under control of company under fraud investigation, arrests made

It takes a lot to shock me but events today at First Class Metals (FCM) on the main market are just so truly appalling that I cannot see h9w advisor Novum has allowed a shambles like this to occur. Where on earth is the FCA?