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Published 3583 days ago
Over the past two days I have written twice to Lord Michael Howard, the former Tory leader and now NED at Quindell pushing him to investigate the biggest (relative to reported profits) fraud in Quindell History, the 2011 TMC Southern panama pump. And today the good Lord has replied – the board is on the case! Hooray. The latest exchange of emails between myself and Lord Howard, a politician showing real integrity is below:
Published 3441 days ago
Twelve times, by email and by twitter I asked former Tory leader Lord Michael Howard of Quindell (QPP) why the new board was trying to bury evidence of the fraud committed by the old board by not filing accounts for Quindell Financial Services – the vehicle ex CEO Rob Fielding used to half inch almost £2 million in a sham deal with convicted Nigerian fraudster Andrew O’Dua. Lord Howard has now responded to THIS article and my question. Sadly his answer is er...not factually accurate.
Published 3546 days ago
In the results last week from Quindell (QPP) Lord Michael Howard and colleagues wrote down the carrying value of its two largest legacy businesses Himex and Ingenie by c£38 million but there is still almost £90 million of goodwill in the balance sheet for these divisions plus Solutions (non UK), i.e. Canada. Lord Howard you are dreaming. You are 'avin a bubble.
Published 3360 days ago
Quindell Financial Services is alive again! Yes the vehicle ex CEO Rob Fielding used to trouser a £2 million hidden bung is back from the dead. After having been struck off by Companies House on 17 November 2015 it has been restored back on the register of companies on 3 February 2016. Would this have occurred without Shareprophets persistent questioning of Lord Michael Howard on 21 November 2015 (HERE). Perhaps not as you shall see.
Published 3584 days ago
In an infamous Jeremy Paxman grilling (see below) Lord Michael Howard had to be asked twelve times to answer a very simple question. Yesterday I asked the former Tory leader a very simple question. A grubby ex politician seeking well paid post career sinecures might not answer but I hoped for better from the good Lord. So far I have not had a response. And so I have penned a second letter as you can see below.
Published 3581 days ago
The most blatant and biggest (in relative terms) fraud at Quindell (QPP) concerns the TMC Southern panama pump which created 140% of the reported Quenron profits in the 15 months to December 31 2011. Lord Michael Howard has confirmed that the new board is aware of this monster fraud as are the SFO and FCA and other regulatory bodies. But to demonstrate the duplicity involved I bring you more detail.
Published 3449 days ago
We were told that the new Quindell (QPP) board were the honest guys coming in to clean up the mess and to help the Serious Fraud Office clear up the wrong dealings of the ancient regime. Yet evidence emerged yesterday that instead of doing that the new board including Lord Michael Howard is just trying to bury the evidence of theft from shareholders. I have written to Lord Howard and the SFO to alert them to this and ask why?
Published 3585 days ago
Former Tory leader Michael, now Lord, Howard recently joined the board of Quindell (QPP) as a non-exec. The man is actually a Ned at about half a dozen little companies but I am sure that he is not a grubby ex politician using his good name to make a few bob in retirement but actually wants to help these companies move forward. And in that vein I have today written to him about the biggest – proportionate – fraud at Quindell, the 2011 accounts.
Published 3552 days ago
Oh dear, Oh dear, poor old Lord Michael Howard, the former Tory leader, does not seem to be having terribly good luck with his Non-Executive Directorship career. To stumble into one Serious Fraud Office investigation (Quindell) might seem unfortunate. To stumble into a second (Soma Oil & Gas), which was announced yesterday, seems like carelessness.
Published 2047 days ago
Since they were launched by the John Major government in 1995, Venture Capital Trusts (VCTs), which are closed end investment trusts that provide finance for small and growing unquoted UK companies, and which are listed on the main market, have given investors a bumpy ride. The tax breaks remain generous, albeit not as generous as they were initially, and some of the now-established generalist ones have provided and continue to provide investors with a steady income from tax-free dividends with relatively low risk, whilst most of the worst ones have fallen by the wayside, taking a large chunk of investors’ money with them. I remain, broadly, a fan but there are still some appalling examples of around.
Published 3138 days ago
Three years ago shares in AIM listed India play SKIL Ports & Logistics (SPL) were c90p. A year ago they were 40p before rallying to 85p in February 2016. On Friday they fell sharply from 22p to 20p. Did someone know something? Yes they did. At 4.32 PM, after hours, there was a shocking warning.
Published 3547 days ago
Bear raider Evil Knievil yesterday announced that he had bought shares in Quindell (QPP) and claimed that the stock was worth 150-180p – his valuation is not that much different from that of the fraudster Rob Terry who has a 172p target. Both are talking complete and utter bollocks.
Published 3565 days ago
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.
Published 3578 days ago
Now that Lord Michael Howard and I are such good mates I wonder if the ex-Tory leader would like to comment on the status of Quindell Financial Services as I have a horrible feeling that this may be another fraud involving ex CEO Rob Fielding.
Published 3356 days ago
And there was I thinking that the good Lord Howard and his colleagues on the board at Watchstone (WTG) formerly Quindell (QPP) wanted nothing to do with fraudster Rob Terry. How wrong was I?
Published 3151 days ago
Following the example set by Paul Warwick the chairman of worthless penny stock Andalas (ADL) in starting a blog, Sir Benjamin Dover of AIM listed Global Mining Endeavours has decided to follow suit and like Paul promises to be Candid in his approach. Blog number ten....
Published 2923 days ago
I understand that just as I was publishing yesterday's bombshell on Mercantile Ports & Logistics (MPL) the company was having a phone conference call with the mugs who are invested in an attempt to drum up more support with promises of jam tomorrow. Sorry to rain on your parade chaps. Yesterday's expose should make any sane person run for the hills, but here are a few other matters to consider.
Published 3499 days ago
This company encapsulates the Quindell (QPP) story of serial fraud in the most simple of companies, a dormant £1 company with one share. Yet the three filed accounts are all wrong. The company is then acquired for £1,354,000 just two months after filing accounts showing a net worth of £2,501. Quindell then incorrectly disclosed the acquisition in its 2013 accounts. The new Board then writes off all the acquisition as goodwill. Finally, despite being owned by Quindell since October 2014 QFS is issued with a striking off notice as it's late filing the 2014 accounts and two Annual Returns. And it gets worse…more fun for the SFO as I now explain.
Published 2561 days ago
Yet another day passes and still AIM-listed Advanced Oncotherapy (AVO) has not answered my questions, and so I ask again – now for the seventh time. At this rate Jeremy Paxman’s score of 12 (against Michael Howard) is in danger. I have had it pointed out to me that Paxo asked the questions face to face, and in that regard I can’t match him. But at least (now) Lord Howard had to reply – even if he evaded the actual question. Anyway, here we go again:
Published 1270 days ago
I’ve been rummaging through the prospectus for the IPO of Edge Performance VCT I- and H-Shares from 2011 (EDGH and EDGI). Given the abject returns on the I-shares, which listed at £1 but will only see a total return after some nine or (for the fleetest of foot) ten years of about 46p once this class of share has been dispensed with shortly, I wonder what they were expecting upon investment. Let’s take a look.
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