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I had to laugh at yesterday’s mid-afternoon “Market Update” from Etaireia Investments (NEX: ETIP) as now that Baron Bloom has left the company, the board has decided to look into a few strange looking transactions of his – transactions that I started flagging over two years ago!
Hat tip to The Times for running part of this story on Monday but considering I’ve been warning about the Baron Bloom / Oli Fattal property venture, Etaireia Investments (NEX:ETIP) for two years (HERE), I thought I’d join in the fun as Baron Bloom has fallen foul of one of Sam Antar’s ‘three exes”, namely his, soon-to-be, ex-wife who has been spilling the unseemly beans in their divorce case. Bloom has been called out as a total fraudster and has stepped down from Etaireia as a result.
No great surprise that after hours on the last possible day, Etaireia Investments (NEX:ETIP) put out its year-end results. It’s also no great surprise that they were shockingly poor but it is worth highlighting one particularly disappointing aspect as it looks very similar to the 2014/2015 fraud and I wonder if history is repeating itself.
Another property deal from Etaireia Investments (NEX: ETIP) announced yesterday and guess what, it’s yet another related party transaction. As one can see from the various pieces I’ve written on the company HERE, one shouldn’t have expected anything less.
Last night at no-one-is-watching o’clock ISDX-listed Etaireia Investments released its annual numbers to 31 March 2016. The balance sheet held a few horrors, such as net current liabilities of £130,586 which in interesting in the wake of the RNS released on 17 August 2016 which told us that the company had ponied up £50,000 (deferred for a year) in addition to 203,076,923 new shares at 0.065p (although it took two goes for the company to get that bit right) in order to acquire a commercial property.
Following on from my earlier piece HERE celebrating the fact that Oli Fattal was back in the property game, putting his torrid time at Teathers Financial behind him, Etaireia Investments (ETIP), has announced yet another cosy connected deal between Etaireia, Baron Bloom and Oli Fattal……although clearly not everyone’s happy about it!
Cynical Bear’s piece last week, covering strange events at Carduus Housing, whose bonds were trading on ISDX (ticker: CHPB) had my ears pricking up at the mention of ISDX-listed Etaireia Investments (ETIP) – covered last July (see Who’s been telling Porkies?). At the same time it is hat-tip to a reader for spotting that Miami-based publication OffshoreAlert had called Etaireia as an out-and-out fraud well before I got my grubby mitts on the story.
A couple of recent announcements from ISDX-listed Etaireia Investments (ETIP) got me fuming about the age-old topic of management greed but they also tell a tale of persistence and patience paying off for Oli Fattal.
At the very death of Friday trading (4.29pm to be precise) ISDX-listed Etaireia Investments plc (ETIP) made the following announcement:
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