UK 02:18 Saturday, 17 October 2026
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Last night’s Panorama programme “The £170 million Scam” covered the operations of the high-end jeweller Vashi Dominguez. It’s worth a watch.
My interest stems from the fact that Vashi was the key note speaker at the Follow The Entrpreneur at her Mykonos in 2021 and you can see the Video HERE. Yup Julie Meyer loved Vashi big time and I am fairly sre that she earned cash raising money for him. For one of the prominent victims last night was investor Michael Moszynski, a good Tory activist, and someone who used to be a big fan of Meyer, taking to twitter in 2018 to threaten me for my exposes about Meyer as you can see HERE.
I wonder if Tory boy rather regrets harassing me and batting for Meyer rather than taking my warnings on board?
The Panorama broadcast states what a sophisticated fraud it was but there were some obvious red flags to an experienced fraud spotter. Vashi’s business operated under the name of Diamond Manufactures Limited.
I set out below the reported profit and operating cashflow for the business for the last five year’s accounts.
What stands out is the massive discrepancy between reported profit and the negative cashflows every single year which amounts to a cumulative £100 million difference. Major discrepancies between reported profit and cashflow are always a major red flag for fraud. The discrepancy here is off the charts.
Another major red flag was the auditor, Mr RC Patel of Inger& Co apparently a sole practitioner operating out of shop front at 7 Redbridge Lane East in Ilford. You can see the premises below:
Inger & Company, 7 Redbridge Lane East, Ilford - Accountants near Gants Hill Tube Station
It’s very similar to Bernie Madoff’s use of a tiny two-person firm to audit his records called Friehling & Horowitz revealed in 2008 and Sir Allen Standford use of a tiny North London based firm called CAS Hewlett as revealed in 2009.
Despite these obvious Red Flags Julie Meyer was happy to sing Vashi’s praises and supposedly sophisticated investors who clearly did minimal DD were duped.
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