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BREAKING: Telit - what an embarrassing coincidence for boss Oozi Cats and his Mrs - meet the Boston fraudsters on the run

By Tom Winnifrith, The Sheriff of AIM | Tuesday 8 August 2017


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.


Yesterday I discussed at length the woes of what was one of the largest companies on AIM, Telit Communications (TCM) where boss Oozi Cats sold £24 million of shares on May 25 - 24 hours ago the stock plunged for a range of reasons. Now here is the most amazing and embarrassing coincidence, meet an Israel couple who fled US justice in 1991. This must be so embarrassing for Oozi and his Mrs - Ruth Veronique Cats, it is just such an amazing coincidence.

For the avoidance of doubt Oozi knows Boston well. He studied there from the mid to late 1980s so maybe he and his Mrs met another young Israeli couple Uzi Katz and Ruth Veronique Katz who were also in town. We do not know an awful lot about what the Katz's are doing now as they both fled the US in 1991 and 1992 respectively and seem to have disappeared off the face of this globe. All we do know is that Ruth Veronique Katz was born on March 17 1966 and guess what Mrs Cats has her birthday on March 17 as well.

 

 

And we also know that Mr Katz was born in the same year as Mr Cats. Jeepers another coincidence.

Anyhow back to Mr and Mrs Katz - how do they come to our attention? According to court documents you can see HERE both were wanted on fraud charges. The two were caught by officers who were wired up in the act and this is how the con went. Mr Katz found a property for sale and arranged for the third defendant Zaphir Shpitzburg to buy it at fair value. He then secured a massively inflated valuation on the site at a multiple of what Zaphir paid and Ruth bought that. She did so with an 80% loan.

She was able to do so by providing an IRS statement of her earnings from an accountant and by claiming to have the remaining cash with an asset manager. All documents were supplied and time and again Ruth secured advances. The only little problem was that the accountant did not exist, she had filed no IRS returns and was not a US citizen anyway as she had claimed in the application. And the asset manager was also fake, just a mai box address the fraudsters had set up.

Mr Katz fled the country in 1991 so never saw the inside of a Courtroom and is described in these papers as a fugitive. Mrs Katz stayed and secured bail, at which point she too fled the country. maybe when back in Israel they changed their names which is why the Katzes seem to have vanished? Well sort of.

The hebrew spelling of Uzi Katz and Oozi Katz is the same it is just that our pal the CEO of Telit has chosen to use a different anglicised version in recent years. But it has not always been that way as you can see HERE.

I am sure that this quite amazing string of coincidences is very embarrassing for Mr CKatz oops I meant Cats. I have tried to get the PR firm Instinctif to help explain why this is just a coincidence but pompous old Adrian Duffield seems reluctant to return my calls. I can't think why.

The stance of sell is unchanged from yesterday the target price is slashed to a slam dunk nailed on ZERO


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