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An open letter to Anna Marks, global chair of Deloitte about the $7 billion fraud Tingo and those enabling it

By Tom Winnifrith | Sunday 11 June 2023

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.

Anna Marks, the Global Chair of Deloitte lives in Oxford, the City of Lost Causes. I have written to her about one such lost cause, the seven billion dollar Nasdaq fraud Tingo and specifically about those who are enabling it. Yes… you have guessed.

Ref The billion plus dollar fraud Tingo and Deloitte’s role in enabling it.

Dear Ms. Marks.

Tingo (US:TIO) is a company listed on Nasdaq which enjoyed a peak valuation of $7 billion. As a journalist I exposed two of its principals, CEO Mr. Darren Mercer and founder Mr. Chris Cleverly when they ran companies on AIM back in the UK. Cleverley clearly committed outright fraud at African Potash, which despite legal threats I exposed in full. Potash and Mercer’s BNN were both slung off AIM when their respective Nomad’s quit. Investors lost everything.

Last week the short sellers Hindenburg Research published a devastation dossier on Tingo which you can read HERE and which shows without doubt that its purported operations are bogus shams. As such the revues boasted of, the profits boasted of and the cash boasted off are pure fiction.

Yet 2022 accounts were signed off by Brightman Almagor Zohar & Co., certified public accountants in Israel, a firm in the Deloitte global network.

I suggest to you that Brightman has, at best, been duped and should resign as auditors at once. If they do not, you should boot Brightman out of the Deloitte global network. The reputational damage to your firm of standing idly by as fraud is committed must be self evident.

According to Deloitte you have “significant experience across audit, due diligence and stock exchange, and other regulatory reporting both in the UK and US.” As such you must be aware of the implications for your firm of doing nothing and, as of today, you personally cannot claim that you were unaware of this monstrous and gigantic fraud.

Yours sincerely

Tom Winnifrith 

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