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BREAKING: FRC says extended enquiry into Quindell thanks to Tom Winnifrith, thanks him and says disciplinary action on way

By Tom Winnifrith, The Sheriff of AIM | Monday 12 October 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.

A letter received today from the Financial Reporting Council confirms that it extended its enquiries into the fraud at Quindell (QPP) to take in a wider remit as a direct result of my action. I am thanked for this and it gets better still.

The accountancy watchdog confirms that the charges I levelled were accurate and fair. And it has also confirmed that on the matters raised it has now “opened a disciplinary investigation.” The FRC has the power to levy huge fines and bar folks who have transgressed from working as bean counters. Rob Terry and Laurence Moore I hope you are shitting bracks as the FRC does not mess around.

And to all those Bulletin Board Morons who claimed that I do not understand accounts, did not know what I was talking about and that no-one listens to me I just say:

fuck you…its time to apologise to the Sheriff of AIM as this is a massive vindication of my efforts.”

I am rather proud of getting this letter and it will certainly be framed and will go on my wall.

You can read the letter in full HERE

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  1. Well deserved pat on the back

  2. Well done and congrats on getting a real acknowledgement of your efforts to unearth the wrongdoing in this case . I know from my management accounts background the 100’s if not 1000’s of hours diligent and painstaking work this must have taken you .
    We readers are very grateful for the protection afforded by your efforts to uncover all UK share market fraud . Your knighthood awaits in due course …….. or it would if I had any hand in selecting the candidates .

  3. drunken sailor

    It is heartening to know FRC were already on the case – a watchdog that actually watches – FCA and AIM Regulation take note, if FRC can do it why can’t you?

    Complete vindication for you and very good of them to provide such feedback, most regulators keep the whole thing behind barred doors citing all sorts of spurious excuses for telling you nothing about your complaint – again FCA and AIM Regulation take note, it can be done.

    KPMG and individuals therein will also have some very sore bottoms and hopefully red faces too if FRC names and shames on completion of the disciplinary investigation. I hope they do. Auditors across the country need reminding that they work on behalf of shareholders, not the company. Shareholders have to approve their appointment and their remuneration for that reason.


  5. Well done!Letter of thanks certainly fully deserved but I suspect it is rare for FRC to acknowledge “outside” help.

  6. Great news, and well deserved.

    Tell them to tell the AIM regulation and the FCA to give you a job, like running it would be a start

    I would have lost in Quindell, so thank you very much. You and SP give tangible credibility to balance sheet analysis and investing in balance sheet values, if shareholders use it more they will make more, and it will make it more difficult for other fraudsters and shysters like Terry to survive

  7. Echoing the comments above.
    Well done to TW and the FRC, the latter being on the case of Quindell since even before Gotham.
    FRC appear to have acted here like a proper regulator. To pull up a company like Quindell pro-actively is re-assuring enough, but to then act on some very sharp analysis from TW shows great effectiveness by FRC.
    Oh how the BBM’s must squirm to hear TW being lauded for ‘greatly value(d) well informed complaints about coroporate reporting’.
    Well done indeed.

  8. Congratulations, Tom. Well deserved.


    Very gratifying. I look forward to reading here the grisly details of the disciplinary developments.

  10. turbograndad

    I join with the others with well deserved congrats, and confirming with extra informed research that you exposed, that also Gotham City exposed.
    Originally I thought it may have been a shorting spoof, but because of your further investigation, and being relentless like a true pro, and also in the face of intimidation from shyster lawyers letters, you did not let go, and all with laughable, and expletive good humour, well done TOM you are the Sheriff.

  11. Juicin Drumroll


    The BBMs on LSE & ADVFN are having a bit of a bad afty & evening after hearing about this “alleged” letter.

  12. Much deserved and long overdue acknowledgement.

  13. I’ve said it before and I’ll say it again, you got no thanks from the #qpp investors and their hate campaign against you was vile. But you have saved many 1000’s more investors from the pain #qpp’s victims have had to endure. Enjoy your vindications Tom as they keep rolling into dodge. Congratulations.

  14. Bobby Chariot

    Congratulations Sheriff, reinforcements are a comin’. Now to put the bad guy behind bars yeeehaaa.



    *Financially ruined would do :)

  15. Well done Tom, well deserved credit there! Keep up the good work Sheriff!

  16. Thank you all for kind comments


  17. Sergio Leone

    Hey Tom, You could be in the next film score with Clint making a come back, set in Mexico, fancy it ?…

    Good, bad or ugly, you choose.


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