UK 13:58 Monday, 26 October 2026
Breaking news and expert analysis on fast-moving AIM and LSE listed shares
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.
Following the shock Rob Fielding revelations of yesterday, conversations with three current and former Quindell employees and some early morning reading of the Quenron (QPP) 2013 accounts, notably page 57, I have more shock disclosures about Quindell and its acquisitions and rather tough questions both for the fraudsters and for the bumbling incompetents at KPMG who signed off on such utter gibberish and obvious lies.
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Comments
Daniel Victor
Even Nigerian fraudsters have to get paid – otherwise the supply might dry up ….
boggle
The house of cards will collapse soon but the way Quindell have avoided individual goodwill writedowns is to absorb all new acquisitions into existing business units. There is then only an overall test against the total goodwill for the business unit not each individual acquisition. There clearly was a plan from the very beginning to learn from the Innovation Group mistakes and I think you are completely underestimating the amount the RT and his associates have extracted. I think the SFO will eventually have to investigate this.
Invetigate
Adam Tulk and Peter Laithwaite finished up at Quindell earlier this month with Dr David Pearce in September 2014. They were the founders/key executives of iSaaS Technology Ltd that Quindell purchased. iSaaS developed ePlsource software.
I wonder how many QPP shares they have? Would there been any lock up? Adam Tulk seems key to ePlsource.
“iSaaS Technology Ltd provides cloud computing solutions for the professional services, medical and legal sectors. Its product lines include ePIsource Medical (formerly known as Corex Reports), the leading independent medico-legal report writing tool and ePIsource Legal, a progressive, highly integrated case management system for medico legal agency operations. iSaaS is also behind several pioneering products in the rehabilitation sphere, including ePIsource Physio (d2physio), the UK’s first voucher-driven rehabilitation intermediary with access to over 950 UK based treatment providers.
iSaaS Technology is wholly owned by Quindell Portfolio PLC.”
You would of thought this would of been told to market that they had left the business even if planned at acquisition time.
Peter Laithwaite and Dr David Pearce have set up Panda Capital Partners!
Dr David Pearce
And why shouldn’t I set up Panda Capital partners? It’s a free country. I sold a damn good business to quindell and after 18 months I am moving on. Why don’t you set up giraffe capital partners. I wish you well
Invetigate
Dr David Pearce – this is nothing against you at all. I believe it is loss for Quindell.
You certainly have lost money on the shares with this transacton
boggle
Tom
Unfortunately nowadays people forget about basic double entry bookkeeping in identifying that there are only two ways of accounting for the money Quindell will have received from selling the clawed back shares. The debit is bank and the credit is either reduce an asset (which they should do ie reduce the purchase price and hence goodwill) or show as income ( which is presumably what they have done)
Why it would take PWC any longer than 5 minutes to check is beyond me.