By Tom Winnifrith, The Sheriff of AIM | Monday 17 October 2016
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.
Today is a very dark day indeed for AIM as the scale of the white collar crime at New World Oil & Gas under its former management team has become clear. That former directors should be investigated by the SFO and others is clear. But AIM Regulation must act quickly to cut one cancer out of the system, it must stop Roland "Fatty" Cornish individually and his firm Beaumont Cornish from ever acting as a Nomad again. I urge you to email the boss of AIM Regulation Marcus Stuttard demanding this happen and suggest what to write below. You can email Marcus at
I suggests an email should draw his attention to the numerous failings of Mr Cornish with regard to New World Oil & Gas not least:
1. That Mr Cornish assured new directors that there was no issue elating to the Niel Petroleum $4.8 million gifted to New World. At the very least Mr Cornish was negligent in the extreme.
2. His failure to check the $1.75 million paid by New to the Fake Sheikh
3. His failure to check out Bill Kelleher's debt and legal issues at the time of the IPO
4. The disorderly market in New's shares last year following Chris Oil's purchase of 49% and the forward selling of the placement.
These incidents alone show that Beaumont Cornish is not fit to act as a Nomad. Therefore, if the World's Most successful growth market is to show that it is fit for purpose the firm of Beaumont Cornish must be barred from acting as a Nomad and Mr Roland "Fatty" Cornish must be stripped of his status as a QE.
Do your worst...email the bogus Sheriff of AIM today. I have.
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