ShareProphets

The one stop source for breaking news, expert analysis, and podcasts on fast-moving AIM and LSE listed shares


Join ShareProphets at less than 2p per article

> All the big AIM fraud exposés

> 300 articles and podcasts a month

> Hot share tips

> Original investigations by our experienced team

> No ads, no click-bait, no auto-play videos

Find out more

What should I call the Quindell book? And a few words on Daniel Stewart – the best short in London

By Tom Winnifrith | Thursday 6 August 2015


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.


When are you going to publish the Quindell book?  I was asked this numerous times yesterday and having chatted to the pizza hardman Darren Atwater, we think that the answer is October. But what to call it?

The aim is to put together all of the investigations on this website and to add in new material arising from yesterday’s admissions by Quindell plus some previously unpublished material of my own to tell the complete story of the fraud from the months leading up to its IPO in April 2011 to the unravel following Rob Terry’s departure. I will name the guilty men. I will point out how the frauds were all too apparent and who in the City ignored them.

From this sorry tale few emerge with any credit. The FRC has shown itself to be a proactive regulator and offers a start contrast to the clowns at the FCA and AIM Regulation who were given hard evidence of proven frauds and did nothing. I shall reveal my correspondence with those regulators demonstrating how they were asleep at the wheel. And then there are the advisers Cenkos, Cannacord and Daniel Stewart. All the guilty men will be named. 

But what title should I use: “Quindell the stockmarket fraud of the Century: the truth revealed” is an early runner.

It is the biggest London stockmarket fraud of this century but maybe you have a better title. Suggestions in the comments section below. A winning title gets an autographed copy as we will publish in paperback and kindle for sale by – I hope – late October. With this project at hand, flip flop really has to manage on this web site alone. I need to be 100% offline as of now to get this done and deal with all thr other challenges of life.

A final word on Daniel Stewart (DAN). Its shares would have collapsed by even more yesterday had Rob Terry’s Quob Park not been buying the stocks. But Quob is almost at 10% so cannot buy more under FCA rules. It is inconceivable that the FCA would permit Terry to go over 10% even if he resubmitted an application.

Fair value for these shares is c0.25p based on its paltry free cash and lack of cash generation. Rob Terry may try to ramp the shares by publishing new price targets of 4.2p or 10p or whatever 2+2 can equal today but after yesterday’s revelations only the truly insane will believe a word he says. Gravity will out and the shares will continue to slide.

But it gets worse. The statements yesterday make it clear that the IPO document for Quindell was wholly misleading and that serious frauds took place in 2011. Who was Quindell’s Nomad in 2011 and which Nomad prepared that IPO document? Step forward Daniel Stewart. At the very least its extreme negligence back in 2011 is likely to see it being pulled into all sorts of investigations. But it could get worse.

One City adviser put it to me last night that the SFO will may see Rob Terry's investment into Daniel Stewart in 2015 as no coincidence – one good turn deserves another. Might the SFO thus look at a conspiracy to defraud charge that would also involve Daniel Stewart? I do not know the answer to that but this could well get very messy indeed for all concerned. If I was Daniel Stewart CEO Peter Shea I would not be sleeping comfortably tonight.

Daniel Stewart raised money for itself at 3.35p on 25 June. Here we are five weeks later and the shares are 1.65p to sell. Those who took up that placing must surely by now be asking a few questions. As the shares continue to tumble as they surely will Mr Shea may be suffering ever more nights of insomnia. The shares are a stonking sell – target price 0.25p (for starters)


Filed under:


Never miss a story.




This area of the ShareProphets.com site is for independent financial commentary. These blogs are provided by independent authors via a common carrier platform and do not represent the opinions of ShareProphets.com. ShareProphets.com does not monitor, approve, endorse or exert editorial control over these articles and does not therefore accept responsibility for or make any warranties in connection with or recommend that you or any third party rely on such information. The information available at ShareProphets.com is for your general information and use and is not intended to address your particular requirements. In particular, the information does not constitute any form of advice or recommendation by ShareProphets.com and is not intended to be relied upon by users in making (or refraining from making) any investment decisions.


More on QPP


Comments

28 comments

  1. Give us a pizza of the action….dedicated to all the bbmorons


  2. MrContrarian

    2 + 2 = 5
    How Rob Terry Made the City Believe the Impossible


  3. RobTerry'sSphincter

    Pump Fiction.


  4. RobTerry'sSphincter

    Pump Fiction

  5. The Quindell Swindle? or maybe Swindell


  6. Bobby Chariot

    The 15 Pound Party: The Inside Story of Quindell, Pumps and Pizzas.

  7. My submission would be:

    “The Quindell Swindle: the story of the £1bn stock market fraud by the journalist who exposed it”

    I think Quindell and swindle probably work together quite well, plus you want to make clear you are a journalist at the outset (avoid the “blogger” label you dislike).

    For the blurb I would suggest the opening two paragraphs go as follows:

    Para 1: Four / five sentences on The Innovation Group.

    Para 2: The SAME four / five sentences with the name / years replaced with the Quindell equivalent. Personally I think one of the most incredible things about this scam is that it all happened before!


  8. turbograndad

    Withering Shites

  9. ‘A Material Transfer of Wealth’

    ‘From The Many To The Few’

    ‘Hoodwinked’

    ‘Vindicated’

    (^words extracted from the BearCasts)


  10. turbograndad

    Lord of the Lies.
    Catcher in the Lie.
    The Big Sleep, FCA, Aim Reg
    The Riddle of the Scams.
    Rob’s Adventure in Wonderland.
    The Cunt of Monte Cristo.

  11. Good call on DAN, down 3% today. Can you please say the same about IMTK, as that is up 3%

  12. An empire built on quicksand

    or

    Once bitten, twice a lie

  13. Quindiddled

  14. I think Quenron is a classic name, anything containing that


  15. Pauly Walnuts

    The Great Rock and Roll Quindell

  16. AIM HIGH: The truth about the Quindell fraud

  17. Title – ‘Daylight Rob-bery’
    Or simply ‘Quicksand’

  18. Quindell: It scammed; I saw; I conquered


  19. DUCK AND DIVE

    Quindell: The Shaming of the City
    The shocking truth behind stock market fraud of the century

  20. With a hat tip to the suggestion of Aimless, I would rework my submission to “Swindell: The story of Quindell, by the journalist who exposed the billion pound fraud”

  21. tall tale is a good half rhyme for quindell

    The Tall Tale of Quindell, the Stockmarket Fraud of the Century

    or

    How I Exposed the Tall Tale of Quindell
    Book 1 of Tom Winnifrith’s You’ve Been Rumbled series on fraud on the AIM Market


  22. Drunken Sailor

    Bex, Lies and Red Tape (in honour of Foxy Bex)

  23. how about some quotes for the back cover

    ‘‘A gripping yarn, and the book was good too’‘- Vice Admiral Cooling
    ‘‘We welcome and support this book and will continue to work actively’‘ – Marcus Stuttard head of AIM

  24. LIGHTNING DOES STRIKE TWICE ……… The story of the Rob Terry enigma ……. You could not make it up , so we haven’t . The story in detail by the only man to fully understand it : Tom Winnifrith .


  25. Terry's All Sold

    A Tale Of Too Shitty.


  26. Terry's All Sold

    ‘Downfall’?

    Snappy, descriptive, appropriate. Like it! Or has that one been taken?

    By the way, and not that more congrats are needed, but superbly well done, Tom, vis a vis QPP. You’ve been bang on target. It’s been a war for you, and you’ve pretty much effectively won. Well done, too, on Slater + Gordon, the upcoming Aussie wannabe contender. That one still has legs.

    With the benefit of a little personal insight into the business models of these type of enterprises, I would however caution you not to set too much store by YLF, or Your Legal Friend, or Camps Solicitors, or whatever other guise they trade under, as ‘White Knights’ in this affair. It’s a bit like having to prefer jackals over hyenas or tapeworm over fleas. They have just this week had a truly fearsome kicking in another class action, the ‘Sonae’ matter which has set the legal world a-flutter. Worth googling, it’s riveting, with a brilliant (long and intricate but well worth reading) judgment (against them). 16,000 scousers have just been shown to be, shall we charitably say, opportunistic ‘embellishers of the truth’. Amazing! More importantly, firms like Camps have been shown up as the reprehensible Pied Pipers in the whole sorry saga, and there will be consequences.

    Doesn’t mean they can’t be an expensive irritant to QPP, but always good to have a long spoon…

    All the very best to you.


  27. Terry's All Sold

    Right, if you didn’t like that, how about?

    ‘Fear And Loathing In Fareham Hampshire Englandshire.’

    In which a reckless gonzo journalist embarks on a wacky but engaging psychedelic journey of self-discovery from a pizza joint in quirky Clerkenwell in old London Town all the way down the A3 to an office block in Hampshire Englandshire (PO15 5UA) (1 hour 43 minutes with benign traffic conditions) and offends quite a lot of people along the way. Gets completely spaced out on the concept of ‘aggressive’ accrual accounting. Starts swearing uncontrollably. Turns out the bloke he wanted to confront has decided that the climate in Canada is more conducive. Bollocks.

    ‘A jolly good read and a ripping yarn’…Anonymous Invented Reader.

    ‘I’d buy it if I had any money’…Imaginary Escaped Loonie.

    ‘I’d like to buy some more QPP shares’…Dismal Real Life Loonie.

  28. The Quindell Files – The truth WAS out there.
    The story of those who were not prepared to listen.


Enter your comment below. Fields marked * are required. You must preview your comment first before finally posting.


Site by Everywhen