UK 11:26 Sunday, 4 October 2026
Breaking news and expert analysis on fast-moving AIM and LSE listed shares
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.
Gosh this is complicated. The Quindell (QPP) relationship with TMC Southern owned by Mark Ford (see HERE and HERE) is incredibly hard to untangle but one thing is clear: the numbers just do not stack up. Annual returns and reports conflict and there is an awful lot of cash which seems to have gone somewhere? Where? Read on…
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Comments
Doug Hall
And still no word from QPPSAG or QPP on any of all this?
Have you looked into Learned Limited (05753488) yet? I know GCR touched on it in their research, but it may warrant closer investigation?
The numbers in QPP’s 2011 annual report referring to LearnED’s accounts for 2009 bear no relation to the actual accounts from CompaniesHouse. And they sold it for a profit, to who? It was voluntarily struck off shortly after.
Also amused to see that @tomwinifrith (note the missing n) started following me on twitter at the weekend (the account since deleted). hah!
Tom Winnifrith
Kebab
I do not moan about QPPSAG – I just think they are morons but that can do what the wish.
Me sabotage SP? Hmmm – who do you think set this website up? Hmmmm who do you think owns it?
I am sure that the directors monitor which writes attract readers.
Now care to explian about how much TMC made selling QPP shares and what % of QPP 2011 cashflow came from orders booked by TMC using the proceeds? 100%? 120? But I guess you think that is trivial
Yours
TW
Professional journalist for 22 years
RAF
KB – another coherent rebuttal of Tom’s findings, sounds like someone is just buyring their head in the sand as opposed to look at the cold, hard evidence in front of them?
C H Ingoldby
kb, you are becoming a bit of a bore!!!!!!!!!!!!!!
You were mildly amusing but are just too repetitive, could you not come up with some fresher and more original insults?
ADVFNPrep
Lol, this is evidence that QPP could have been running a Ponzi-scheme is 2011. And what do QPP holders do? They insult the messenger.
Anyway, it kind of makes sense. One must be pretty deluded to still hold QPP given all the information out there about QPP dodgy practices.
ADVFNPrep
I didnt know there was a rule that target prices required to be reached within weeks.
Listen buddy, why dont you just comment on topic? This piece is about the 2011 cash flow and profits, part of which appears to have come from selling QPP shares.
R
But KPMG, Cannacord & Steamy say its OK, so why all the drama?
Dominic Cooper
@kb
We know that there are results coming out. And of course they are going to be good. RT’s hardly going to say “it’s a fair cop guv” is he?
The point – staring you in the face – is that QPP / RT have now been demonstrated to have used illegitimate techniques to shuffle non-existant money around in circles, for the sole purpose of inflating QPP’s balance sheet, for the sole purpose of increasing QPP’s share price (at your expense).
The only money of note it has ever made is now demonstrated to have come from selling its own shares into the rising market it made by telling lies.
And come the 21st August, it will surely tell more lies in an attempt to keep the show on the road.
Of course the real RT plan to keep the show on the road was to get the full listing, and get off AIM, hope that tracker funds buy in and maintain the share price (remembering again that RT’s business model consists not of selling anything, or doing anything, but of selling his own shares ).
Sooner, or later, people and institions are going to realise that they have bought into thin air. The QPP is only worth something because other people think it is worth something. And when that realisation hits, like the Emporer’s New Clothes, Tom’s target price of 1p is going to look like a ridiculous over-estimate.
Kind knievil
Tom, nice one, back at 8 qpp topics on front page, lol! Qpp sp pretty flat so far today, well done to you, see what the next couple of days bring. Really need the qpp topics to cover the whole front page now!
lostindenmark
KB, your blind faith in regulators and auditors demonstrates a lack of realism. TW has identified many transactions which require investigating but to date there has been no comment or action from anyone. if just one of these transactions is illegal Mr. Terry would be deemed unfit to be an officer in a publicly listed company. TW has made allegations against many of the players even calling them fraudsters, if they were snowy white would they not seek legal redress by demanding a retraction and seeking an injunction to prevent further attacks.
Whilst I am not a particular fan of TWs journalistic style I admire his tenacity in digging into this company and publishing his findings. When he ran an expose on SER he was attacked by many BB posters but he was proved right even though Sefton/Ellerton tried to silence him through the courts. Beware of believing in the system, where there is money there is often skullduggery its human nature unfortunately.
Duff
Good work again Tom,
As Kebab keeps pointing out, we really do need an authority to start investigating this. Have you heard back from any so far?
Quite shocking if not.
Duff
lostindenmark – Yes funny that QPP’s legal team has not sent untold letters to Tom yet. If my company was being accused of fraud I would be doing my utmost to dispute it.
Duck and Dive
So what percentage of Quindell’s cash revenues has been generated by third-party selling of Quindell’s own shares acquired via some dubious equity or t/o transaction?
Improper as this covert merry-go-round would be, I suppose it’s at least better than if the proceeds of the share sale ended up in some Quindell director’s back pocket…or did that happen too?
lostindenmark
Duff, seems even more strange that one of the allegations is against a lawyer. I would have thought that he would at least have had a threatening letter from them.
NewJ
I get the impression RT thinks he is that much cleverer than everyone else that they could not figure out what he up to. It’s all going to go horribly wrong pretty soon.
wildrides
Oh my word, …………Kebab has no brain what so ever . Just an absolute vacuum . Infact like deep space but without any of the miniscule ingredients of the primordial soup that are the initial building blocks of life .
As for synapses …..I wish .
DiscoStu
Kebab: You say: “if you think wannabee is unearthing all this on his own then you lot are more deluded than i thought.”
You usually deny anything’s been ‘unearthed’.
What has been “unearthed”? That QPP isn’t all that it seems and you are suffering massive paper losses?
While you and your QPPSAG mates are busy “unearthing” who doesn’t ascribe to the QPPSAG/IS mantra, others who have an interest in QPP are taking a look at how the company works and how it has come to be one of the most talked about AIM shares.
Does it irritate you that there are others who, given your plugging of all things good about Terry, QPP and Liam Jones aka Steamy, take a different view of how the QPP empire has been assembled?
GG79
Squeaky bum time TW? Looks like QPP are playing the ball and the man…