Keyword results: China fraud

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Financial Reporting Council launches probe into Crowe UK over Akazoo fraud – but what about Deloitte & InternetQ?

My good pals at the FRC have today announced that it will be launching a full enquiry into the clean sign off given by audit firm Crowe UK into the accounts of the fraud Akazoo for the calendar years 2016, 2017 and 2018. You will remember that Gabriel Grego exposed this UK registered but Greek based and US listed company as a complete fraud in April 2020 and the SEC is now running a full probe. But … the FRC needs to go further.

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Gamfook in NEX-China flotation: Red Flag central, keep well away!

I didn’t know whether to laugh or to cry at the flotation of Gamfook (GAMF) on the NEX lobster pot on Christmas Eve. Was it an elaborate April Fool, carried out in December to fool us all? I’ve no idea. But the Red Flags are everywhere to see. For starters, it is a Chinese jewellery play with one of its main outposts to be found in Fujian Province (which, I gather, is called Fooking in another Chinese dialect). And the Broker is that fine house of AIM-China frauds, Daniel Stewart – the former Nomad and former resident of the AIM Casino. What’s not to like?

BNN
BNN

BNN Technology: Where does all that money go?

BNN Technology (BNN) has duly announced its prelims for the year to Dec 2016. First of all: hats off to broker Mirabaud for finding punters willing to throw a further £25 million at the company on top of £51 million stumped up last year.

Bearcast

Tom Winnifrith Bearcast: Happy Birthday Lucian Miers - Negative Feedback for Feedback

Happy birthday Lucian, it looks as if my son is hanging on to avoid joint parties in the future. Theresa May has a new idea on tackling fraud. Suffice to say what she proposes will damage industry and Britain PLC. I have another suggestion - enforce existing rules. Mrs May fails to understand the psyche of most fraudsters but also how useless the fraud busting agencies of the state are. I then move onto bad news for my good friend Jim Mellon at his latest AIM Disaster, Billing Services (BILL), then I cover XCite Energy (XEL) and read throughs at IGAS and Iofina (IOF). 88 Energy (88E), China fraud Zibao (ZBO) and the smelly business at Feedback (FDBK)

RUR
RUR

Rurelec – breathing space following new secured loan

This morning AIM-listed Rurelec (RUR) which is rather fighting for its life announced that it has bought itself a little more time in the form of a new short-term secured (over all the assets of the company) loan of £850,000, which has already been fully drawn down. This will be repayable at the end of June and will repay the last short term secured loan from Radix (of £600,000), associated accrued interest as well as provide working capital.

DAN
DAN

Daniel Stewart - it's thankyou and goodnight: we dance on your grave

Having hinted previously that its AIM days may be numbered, last night at no-one-is-watching o'clock (5.29pm on a Friday) erstwhile AIM-listed Daniel Stewart (DAN) released an "Update on Suspension" RNS which admitted that following the resignation of Beaumont Cornish, the Nomad of last resort, the company had been unable to find a replacement. In other words no other Nomad is prepared to act and we should expect an AIM execution announcement on Friday of next week.

China Flag

Video: Tom Winnifrith Anatomy of a China Fraud On AIM at Gold & Bears - November 28 2015

In this presentation I explained how an AIM Casino China fraud was created and how the fraudsters made their cash. I named the useful Western firms who assist with the frauds and then named three Companies still on AIM on 28 November (although one has since gone onto death row) which are frauds. Enjoy...

DAN
DAN

Struggling for small talk ideas at the Daniel Stewart Christmas Party - a few one-liners to try

Maybe you have no shame and will tonight be attending the Daniel Cesspit (DAN) Christmas Party but are worried that you might struggle to make small talk with its useless boss Peter Shea and his dwindling numbers of staff? Fear not, just for you, here is a cut out and keep 13 handy one liners to use. There is no need to thank me, in the season of goodwill I'm just trying to help.

Is Any Link With China a Red Flag? Ref PCG Entertainment

TW Note: I do not agree with the thesis of this article at all but allowed it to run. I have, however, amended it to reflect the fact that there are no related Party transactions involving Richard Poulden as had been stated on Proactive and which the author referred to. This is a factual error for which I apologise on behalf of the website. The rest of the article - which I still disagree with -  stands and reads: With all the China frauds and the dismal performance of China-focused shares exposed by Shareprophets, one begins to wonder if any link at all with China is a red flag.  Take PCG Entertainment (PCGE), a Gibraltar incorporated holding company, for example.

China Flag

Tom Winnifrith BearCast 22 July - China in recession, China AIM Casino fraud

The sabbatical can be broken for one of three events: the arrest of Rob Terry, suspension of trading in shares in Daniel Stewart and big China fraud news. Sadly Terry has not yet been lead away in cuffs but it will happen. But I sat down with my lefty father pleasing him as I discussed crooked capitalists (the deluded old boy reckons all capitalists are crooks) with reference to China macro-economics and China fraud on AIM in light of today’s news from Geong and Gate Ventures.

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GetAFix

Who is Britain’s best blogger on shares….it is er…..

And there we were thinking that Brokerman Dan was Britain’s share blogger of the year - so says ADVFN. But it seems that he has a rival to the title. No. It is not the smaller companies journalist of the year, the chump from the IC who tipped shares in almost every single China fraud as a buy. Instead..

AFG
AFG

Aquatic Foods Group plc – yet ANOTHER AIM-listed China Norfolk?

On Monday AIM-listed Aquatic Foods Group plc (AFG), a Jersey-based holding company with its main assets in Shandong Province in China, held its AGM. Ahead of that gathering it was announced that Mr John McLean (hitherto the Deputy Chairman and Senior non-Exec) had withdrawn his candidacy for re-election to the board. Red Flag? Read on (especially if your name is Xavier Rolet, CEO of the LSE).

JSI
JSI

Jiasen – Questions for Cairn (Nomad) and Beaufort (Broker)

Shares in Jiasen International Holdings (JSI) are down another 22% to just 4.875p last seen this morning (down from an IPO price of 82p only a year ago) to leave this obviously squeaky clean outfit from Fraud Central (Fujian Province in China) valued at just £5.9 million, down from c. £100 million at IPO.

JSI
JSI

Jiasen – circling the plughole of AIM Casino Death: FD Quits

China fraud Jiasen (JSI) floated at 82p a year and six days ago. The shares are now 4.5-5.25p following news that the Chief Financial Officer Kian Tan is set to walk the plank within weeks. The shares now trade on an historic yield of almost 50% and at an 80% discount to stated net cash and on a PE of 0.3 if you believe the numbers. I do not. They are pure fiction. Jiasen is circling the plughole of AIM casino death as I flagged up again yesterday HERE.

Bearcast

Tom Winnifrith Bearcast 19 July - 10 top shares to short for summer

Okay, the sabbatical really does start this week so maybe not that many bearcasts from now. But for today I explain why the market will be harder for non profit stocks and on that basis I start with a reference to my 21 stock death list of last month (Afren looks to be the first to fall) HERE but also refer to the excellent must read piece by Lucian Miers yesterday HERE. And then I launch into my 10 top shorts for summer. Companies mentioned are:

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China Flag

Reader Post of the day - why AIM's flawed nomad system creates IPO fraud

Just now and again readers on ShareProphets post utter gems which merit a wider audience. Reader its me is a City insider and knows how the system works or rather does not. Commenting on the latest China fraud revelations (Global Lock) he explains a real failing in the Nomad system. It is a very instructive comment and something the LSE should - but won't - take on board. Over to its me:

News from the Norfolk Province of AIM - Sorbic International plc

Hot on the heels of Tom Winnifrith’s prediction that GATE would be the next China fraud to follow Naibu through the AIM exit door followed by Jiasen (JSI), we had news from JQW (JQW) (more to follow on that one later) and the already suspended Sorbic (SORB). The latter will provide stiff competition to Gate Ventures (GATE), as it announced in its interims that since the resignation of Finncap as Nomad on 16 June, no Nomad had been willing to replace Finncap and accordingly Sorbic is likely to depart AIM on 17 July.

ShareProphets telephone bugging service; AIM Regulation asks Fatty for a favour on the fraud Gate

After Beaumont Cornish’s shock resignation as China fraud Gate Ventures’ (GATE) Nomad (this one is so bad even Fatty isn’t prepared to touch it with a bargepole), ShareProphets has obtained an exclusive transcript of the phone call AIM Regulation put in to ask a favour from one of its old favourites.

ACE
ACE

Exclusive: China AIM play Auhua share price 14p - WH Ireland trying to raise cash at 4p

Chinese AIM play Auhua Clean Energy (ACE) shares now trade at 14p. The company promised in December that it would release its annual results for calendar 2014 in April. It is now June and still no results.

Sir Alex Ferguson & Zara Phillips roped into the AIM China Scam Gatewang/Gate Ventures involving sleazy MP Tony Baldry

I have already demonstrated how believers in Johnny Hon’s China pyramid scheme Gatewang are being duped into buying shares in AIM scam Gate Ventures HERE. Sleazy Tory MP Tony Baldry is a non-exec at Gatewang and happily hands out bogus Knighthoods to its execs at House of Commons receptions he arranges (see HERE). But now I show how Hon tries to create the impression that Gatewang is endorsed by the Royal family but by someone even more impressive, Fergie. Not the toe sucker but the football legend.

LSE
LSE

London Stock Exchange plc – FY Results: This is why market regulation is failing

To much fanfare the London Stock Exchange (LSE) announced its full year results for calendar 2014 this week. We had CEO Xavier Rolet all over the news, telling everyone what a marvellous success story the LSE is. Sure, it made plenty of money for its own investors, reporting adjusted profit before tax of £492 million. But what of the users of its products? How have they fared?

Breaking – Mosman is FUCKED – MEO rejects takeover bid

Oh dear, Oh dear, it seems as if the board as ASX listed MEO has been listening to my advice HERE and HERE as it has just now advised its shareholders to reject the all share bid from AIM casino listed Aussie based POS Mosman Oil & Gas (MSMN). The technical term for where that leaves Mosman is “fucked”.

NBU
NBU

Happy New Year At Naibu

What a surprise: on the first trading day of 2015 Naibu (NBU) announced that it has lost its Finance Director.  After two years as a public company it rather looks like Naibu is shutting up shop and disappearing into the night.

Bear

It is almost worth going to New York for this bearfest - brilliant video

This video is superb, In a humourous way it demonstrates why bears & short sellers provide such a valuable service to the stockmarket and it promises another major China fraud expose next week. I am almost tempted to head off to the Big Apple for the party...

Ming Le – another Chinese shoe fraud emerges - a clear warning for Camkids investors

Last week we revealed the story of Ultrasonic, a Chinese shoe company listed in Frankfurt where the CEO and COO appear to have stolen all the money and done a runner. It comes from Fujian like AIM Casino listed shoe companies Naibu (NBU) and Camkids (CAMK). Now let me introduce you to Ming Le and Camkids shareholders please take note.

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