By Tom Winnifrith, The Sheriff of AIM | Saturday 27 June 2020
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.
Wind back to 2016. Redcentric (RCN) overstated its cash position and understated its debts as a result of a series of accounting high jinks including a great payroll con straight out of the Rob Terry playbook which we exposed HERE. This pumped the shares up allowing CEO Frazer Fisher to make a killing as I exposed HERE. Finally, the FCA has acted but it has surely got it all wrong and its actions expose the current board to charges of gross negligence
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