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GOTCHA!: First Class Metals, bent chairman goes, funding crisis as ponzi 79th cannot back phase 2 placing

By Tom Winnifrith | Monday 31 March 2025


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.


The amazing thing is that David Webster, the founder of ponzi fraud the 79th Group had been arrested as part of Operation Mold BEFORE he was appointed as chairman of First Class Metals (FCM), First’s board knew this as did scumbag advisor Novum but they went ahead anyway knowing that without the 79th taking its stake to 50% via a placing at 1.7p, First was bust. Today, after the weekend revelations on this website, Webster has resigned with immediate effect.
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