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Cantor Fitzgerald, Stewart Dickson, the fraud African Potash and the exact timeline as AIM delisting confirmed.

By Tom Winnifrith | Saturday 7 January 2017


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.


For what it is worth there was an announcement yesterday from FTSE stating that African Potash (AFPO) shares will be delisted from the start of trading on 11 January (next Wednesday). Potash has not confirmed this but it looks like it is game over. It cannot refinance while listed on NEX (ISDX) so it will go bust soon. Legal redress can follow but we can now start to piece together a few fascinating dates from three months ago.

It was in the second half of August that I really went on a "Winnileaks" attack against Potash publishing internal documents that showed without any doubt that releases signed off by Cantor Fitzgerald as Nomad and specifically Mr Stuart Dickson as the senior bankster on the account, the QE, were just not true. Given that Potash did placings soon afterwards it had committed fraud and I used the F word explicitly.

The first "Winnileaks" document was published 23 August revealing an undisclosed £600,000 bung paid to Beryl.

On 26 August Potash announced a new "order". Natch it has not resulted in any revenues to date so I guess it was a lie like all the others.

On 29 August ( a bank holiday) another "Winnileaks" bombshell showed clear fraud with regard to a LOC which was announced on jan 6 2016 but had not in fact been signed by any bank. I published the draft LOC which was all that Cantors saw when signing off the RNS. I used the fraud word freely on a daily basis.

By 30 August Potash was assuring morons that it would sue me for libel.

On 1 September (Thursday) a bailout placing was announced. How on earth did Cantor's sign off on that given the clear evidence that Potash had committed fraud. Perhaps it was because Potash told the Nomad that it was issuing legal proceedings against me. And thus that day fascist lawyers Memery Crystal sent me a lawyers letter demanding I pay Potash £2,000 + damages to be agreed + pull all past articles and promise not to write again.

On 2 September (Friday) I told Memery Crystal where to stick it and made it clear that my requests under the disclosure process would be specific and this would clearly rope in Cantor Fitzgerald. That seems to have rattled Cantors as it realised that it really was in trouble here for signing off on statements that it had not verified properly and which were untrue.

I continued to make this point in an almost daily barrage throughout September.

On 7 September (Wednesday) Canot gave Potash three months notice as per contract that it was quitting as Nomad. We only discovered this in late November but the resignation letter landed on the 7th.

Given that Cantors had signed off on a placing on the 1st you may well ask what happened between then and the 7th to cause a volte face?

On 12 September as you can see on his FCA record, the QE who had signed off on all those scandalous RNS releases, Mr Stuart Dickson was let go by Cantor. He insists that this was part of a general redundancy programme. Whatever.

The dates are really very interesting indeed.

Potash is now marooned, almost out of cash and administration seems inevitable. But that will not be the end of it. Those who are culpable for this fraud are the board and - through, at best, negligence, Cantor Fitzgerald. My discussions with lawyers continue.
If you have lost money on this fraud please email me the details at tomat49@gmail.com


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