By Tom Winnifrith | Monday 8 January 2018
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.
In part one of the review of Julie Meyer's career as an an investor we finished our round-up with Taggstar, a company where Julie "doing the will of God" Meyer MBE was the sole director until 12 April 2017 and which went tits up in June 2017 leaving unpaid bills of £924,340. The report of the liquidator is damning and accuses Julie and Ariadne Capital of fraud and theft.
This report was published on 30 August 2017 and if you turn to page 7 the liquidator, FRP Advisory, states:
" As advised in the director's report provided to the meeting of creditors, it is alleged that during Julie Meyer's tenure as Taggstar's sole director, company funds and advances provided by Digital Media Technologies Limited (DMT) were misappropriated and used to fund Ariadne Capital Limited (Ariadne).
Demand was made by DMT to Ariadne to repay the money apparently misappropriated and the shareholder subsequently issued a Lien Enforcement Notice in an attempt to recover the misappropriated DMT shareholder funds.
It was further alleged that Julie Meyer as a director of DMT, instructed potential DMT investors to pay subscription monies into the Taggstar bank account in contravention of the DMT subscription agreement resulting in potential investors not receiving the DMT shares they were expecting. It would appear that once funds were received by Taggstar they were immediately transferred to Ariadne.
As a result of these allegations DMT issued legal proceedings in Gibraltar with a view to recovering the shares held by Ariadne which would in turn be sold pursuant to the shareholder agreement with the funds received becoming due to Taggstar. The Liquidators have not been party to those proceedings and the value of any potential recoveries remains uncertain at this time.
That is pretty black and white. Julie Meyer stands accused of theft and fraud. This needs to be investigated and if she is guilty she must be barred from being a company director, lose her MBE and should be prosecuted with a view to jail time. No-one can be above the law, not even devout Christians who are doing God's will such as Julie.
You can see the full report HERE