> 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
By Nigel Somerville | Friday 12 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.
Our good friend and occasional correspondent in these parts, Graham Chester, has also been looking at Standard Listed (as of Tuesday) AIQ (AIQ), which rose from 8p to 125p to have a value of £62.5 million for its £3.6 million of cash and nothing else. Like me, he has become a bit of an anorak on China Frauds so when a familiar name crops up….
This morning, his article on Motley Fool (see HERE) turns up the name of Marty Lau at reporting accountant and auditor Moore Stephens – which was responsible for AIQ’s listing prospectus. Writing for us in a fantastic series of articles related to the Filthy Forty, Graham Chester noted an “interesting” CV for Mr Lau, which includes Filthy Forty company Jiasen (JSI) - and Grand Group (GIPO) which only avoided entry into that fine index by listing too late.
Jiasen listed at 82p and disappeared from AIM after an EGM last year – at just 0.25p. Grand Group was booted off the Casino at 10p also last year, having listed just in 2015 at 80p, after its Nomad (ZAI) lost its license. But in any case the company faced execution a few days later for failing to meet its investment policy. It had boat-loads of apparent cash, and an enthusiastic Chairman (who resigned a few days later!) yet no Nomad would step up to the plate. Odd that, isn’t it?
I note also that Ivy Wang – now of Hong Kong-based L&S Group limited, which was the Listing Coordinator for AIQ’s debut, also featured for Nomad ZAI when Grand Group listed. Small world, innit.
But obviously there are no Red Flags here at all.
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.
Comments are turned off for this article.
Search ShareProphets |
Stock market news |
Recent Comments |
Site by Everywhen