stockmarket fraud

2665 days ago

Tom Winnifrith bearcast - the phone call that makes me fight on rather than take time out at Mount Athos

After four and a half years of fighting stockmarket fraud you can get a bit tired. This morning I was dreaming about spending some time out on Mount Athos. But I am not so sure the Mrs is so keen on that plan. And yesterday I got a call from a bloke who has lost his entire life savings on the fraud African Potash (AFPO). Lord Hain do you have a social conscience any more? That call makes me fight on.

3202 days ago

Life on Marbs starring Jon Stretton Knowles (star of the biggest stockmarket fraud for 30 years) goes live

The quite dreadful new TV reality show Life on Marbs went live with episode one tonight. Its star Jon Stretton Knowles is of course a critical figure in the biggest UK stockmarket fraud of the past 30 years, Quindell. Its shares are 80% down and now suspended with investors having lost billions and the Serious Fraud Office, FCA and others are investigatng. No doubt JSK will be having a chat with the Old Bill soon. In case you missed the debut show...

I managed about 30 seconds 

3204 days ago

So what is Quindell really worth? Probably not 0p but it could be

Shares in the biggest stockmarket fraud for 30 years, Quindell (QPP), are currently suspended at 124p valuing it at around £625 million on a fully diluted basis. But what is it actually worth? Some brokers are marking it down to 0p because of the suspension but it is probably not worth 0p – thanks to the folly of the Aussie prats at Slater & Gordon – but it might just be.

Slater & Gordon paid £647 million for nearly all of Quindell’s businesses. That came in very handy as Quindell was technically insolvent without that cash. The deal has helped to crater S&G’s share price as it grotesquely overpaid for businesses that have simply never generate cash. I have S&G down as one of my top ten shorts for summer – see HERE.

But what of Quindell? 

3209 days ago

The new ITV reality show Life on Marbs starring a star of the Quindell fraud – Jon Stretton Knowles

From the makers of the truly appalling The Only Way is Essex (TOWIE) we have a new reality show out this summer Life on Marbs.  Set in the Costa del Crime it features a bunch of men and women whose aim is to shag anything that moves, and who all appear to be rather light in terms of the little grey cells. And its big star is John Stretton Knowles, who may well soon be chatting to the Serious Fraud Office about his role in the stockmarket’s biggest fraud for 20 years – Quindell PLC. Not that ITV seems to know about that.