Breaking news: We have a new speaker at Gold & Bears, Gabriel Grego the author of the report that exposed the Globo fraud is flying in from New York as a new headliner. This guy is good.
The Globo (GBO) scandal brings up the issue once again of what an auditor is there to do. Yesterday’s admission that, essentially, Globo’s accounts could not be relied upon suggests that there has been a massive failure. Auditor there: Grant Thornton. But Globo is by no means the only case of investors being misled as to the true picture in a company’s accounts.
Dan McCrum is a journalist on a very important paper, the FT. And so naturally he of the microscopic cojones is the heroic scribe who brought down the fraud Globo (GBO) all by himself. In between picking his nose and slapping himself on the pack micro cojones yesterday explained how the downfall was 100% down to him. Welcome to the Dan McCrum Globo timeline. His comments are in ordinary font, my own are in bold.
A previous table showed a combination of AIM stocks covered bearishly on this website and disclosable to the FCA short positions had delivered outsized returns. In honour of Globo plc (GBO) - see HERE - the following updates...
You think awards all a load of old cock? You think that being lauded by the London Stock Exchange is a bad sign? Yup lets watch a video of fraudster Konstantinos Papadimitrakopoulos, until today CEO of the fraud Globo (GBO) in action. Well done you old crook. But at least as you rot in jail know that the LSE once loved you.
So which top City broker helped fraudster Konstantinos Papadimitrakopoulos of the fraud Globo (GBO) dump most of his shares last week? Given that the size of the dumping could have meant only one sellers surely its compliance officer was alerted and did something. Or maybe not. So which broker was it. The table below shouts out just one name.
Tom has written on the shocking developments from Globo plc (GBO) today HERE and HERE. Having first been commented on HERE on this site, the following from the subsequent coverage shows some of the significant red flag warnings we highlighted and to look out for in appraising future investments…
What a staggering set of RNS releases this morning from AIM fraud Globo (GBO). First we have the near admission that the fraud allegations are substantially true. Then we have the resignation with immediate effect of joint Broker to Globo, Cannacord – just as Cannacord resigned the Quindell (QPP) account when the heat was really on. And to cap it all - the cherry on the icing on the cake - news that Globo’s erstwhile CEO, Mr Konstantinos Papadimitrakopoulos, had been covertly selling down his holding of shares before the arrival of the bear report from Quintessential Capital Management. But when was he selling?
Hat-tip to Alcira, straight from the organ that advised buying shares in the China Frauds, we find that the dear old Investor's Chronicle has hit on yet another winner. For on 30 September of this year - just four weeks ago - it reiterated its advice that readers buy Globo at 38.3 pence. Whoops!
You can read the sage advice HERE
Is this the worst research note in history. Buy a fraud at 30p target 90p with suspension happening within days. How Canaccord must be wishing they could bring back Kevin Ashton as their tech analyst now? This dreadful note is below. Enjoy.
The scandal at FRAUD Globo (GBO) is still getting worse: we have now had news that Globo CEO Mr Konstantinos Papadimitrakopoulos has been selling shares - 42 million of them, and a further 10 million have been "pledged" in a now defaulting "loan" deal with Lantau Holdings in a deal which has echos of the Equities First which was used by fraudster Rob Terry and his henchmen. The shocking statement reads:
The entire spineless mainstream press were too cowardly to publish the Globo (GBO) bear report by Quintessential Capital Management last week or even to link into it. We were not and we published it in full on Thursday HERE and today the company has admitted that it is indeed a fraud, the CEO and CFO have quit and the shares stay suspended.
The much anticipated short report on Globo (GBO) arrived last night - see HERE - and predictably the shares have been suspended pending the company’s rebuttal. I have written about Globo quite a lot in the past and for what it’s worth, I offer my opinion on the subject.
I have long criticised Roger Lawson of ShareScoc He wrote supportively on blinkx (BLNX) without declaring a position and attacked folks like myself and Ben Edelman who disagreed, declaring that he was a “software expert”. It now appears that the software expert was also long of Monitise (MONI) and Globo (GBO)
Globo (GBO) has responded to the report published last night by the wicked and evil global shorting conspiracy by saying that its shares will remain suspended until it can issue, what it terms, a full rebuttal of a report it says is false.
If this report by New York based Quintessential Capital Management is even half true, Globo (GBO) is in very deep merde. I note that QCM's last big report prompted an aalmost immediate 80% share price collapse. This report is ...startling. I have spoken to the author tonight and this is just an abridged version of what he could have published. The shares should crater on this.
A source well aquainted with the author of the Globo (GBO) bear report says that it will be published from New York tonight (UK Time). Furthermore..
Shares in Globo plc (GBO) are continuing to fall following another group of investors saying ‘oh no’ to its investment proposition. With the shares already well down from an approaching 90p a couple of years ago, they are now back below 30p with the company having now announced “that it has postponed the proposed issue of Senior Secured High Yield Notes due to market conditions”…
