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BREAKING: Police Hunt for Julie Meyer after no show in Malta Court

By Tom Winnifrith | Wednesday 25 April 2018

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.

Oh praise be the Lord, crack out the ouzo, Julie Meyer appears to be on the run.  To have your flagship company - Ariadne Capital - go bust and have the administrator gunning for you over disappearing cash is bad enough but now the Old Bill are after devout Christian Julie Meyer MBE. Over to the newspaper, The Times Of Malta, which reports:

Magistrate Donatella Frendo Dimech has ordered the Commissioner of Police to locate entrepreneur Julie Meyer within 48 hours, after she failed to show up in court on Wednesday.

She was hearing the first in three cases against Ms Meyer for unpaid salaries.

The magistrate ordered the commissioner to dedicate all the police resources required to find her - including fixed point watch at any address she may be in.

The Department of Industrial and Employment Relations representatives in court declared that Ms Meyer had said that she wasgoing to pay. Her lawyer, Jesmond Manicolo, said that he had the money in his possession.

Dr Giglio, appearing parte civile for one of the employees, said that he had corresponded with Ms Meyer via e-mail and declared that she was in Malta.

The prosecution informed the court that the notice of summons was negative, meaning that notification to attend court had been unsuccessful.

Ms Meyers' UK company Ariadne Capital was put into the hands of administrators last December, which she insisted was part of a pre-planned strategy.

However,  administrator Leonard Curtis - one of the largest independent firms in the UK specialising in corporate recovery, insolvency and business restructuring - has now contacted its creditors to ask if they would be willing to fund a possible legal action to challenge allegedly suspicious transactions involving the business, according to London's The Times. She has brushed off the story saying the claims had no merit.

They are seeking legal advice to explore “potential claims” concerning the sale of Ariadne Capital assets - Malta-based Entrepreneur Country - to a related party in 2016 and possible discrepancies in the company’s finances, 

The Times of Malta last year reported that she was being sued by a company in Malta for unpaid bills, as well as being pursued by employees – both in Malta and from her operation in the UK – who had not received their wages.

Ms Meyer's Ariadne Capital Malta also acquired Portcullis Asset Management in 2017, along with its licence as a Category 2 Investment Services Licence Holder to manage professional clients (including collective investment schemes).

The Malta Financial Services Authority confirmed to the Times of Malta that following the resignation of Erik Ferm on January 3, 2018, Ms Meyer is now the only member of ACML's board.

Asked whether any action was taken with regards to this and whether operations had been suspended, the MFSA said: "As part of the supervisory process on licensed entities, the MFSA reviews the conduct as well as the governance structure of Ariadne Capital Malta Limited.

"This process is an on-going process which is governed by the respective laws and if the MFSA identifies any incidents of lack of compliance and eventually decides to take regulatory action against one of its licensed entities, that action will be published on the MFSA’s website following the conclusion of the due process required in terms of the MFSA’s statutory obligations."

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