UK 11:26 Sunday, 4 October 2026
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Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.
I have today written to the senior partner at KPMG, Mr Simon Collins, asking if he should check whether there was undetected fraud in the 2013 accounts published by Quindell (QPP) and audited by his firm. By fraud I mean the payment of cash and shares to a long-time associate of Rob Terry to buy companies that were essentially worthless. Such payments would be fraudulent. The payments would also be fraudulent were it to be shown that the company had some value but nowhere near that paid and that the purchase price could not be justified.
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Comments
bulletinboardmoron
But it’s not a fraud… it’s all the critics’ fault…
Duff
Really looking forward to the reply from KPMG.
MrContrarian
Good stuff and worth kicking up a fuss, It’s odd that a once 8% holder of Quindell would need such large ‘incentives’ to buy his goodwill.
However I predict that the reply (if any) will be that KPMG has no obligation to you and for you to direct your concerns to Quindell.
Duck and Dive
Agreed that KPMG won’t respond, and have no obligation to. But they will be in no doubt that the same questions will be asked by the media and by the regulators because Tom won’t stop pestering them until they do. So they will be doing the sensible thing and digging out the answers…
Bigriver
Are you still a shareholder? If so, KPMG has a duty to you, and as auditors they have a duty to follow up on any allegation of fraud. Also, why not go direct to the SFO.
Libero
Superb article & research! Keep up the good work!