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China AIM fraud Naibu – NEDs who failed & took their dosh now take Pinsent Masons & Daniel Stewart to Court

By Tom Winnifrith | Monday 9 July 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.


At the last AGM of Naibu (NBU) before it was booted off the AIM casino I attended its AGM, held at the offices of its Nomad Daniel Stewart, and accused the company of fraud.  Only the NEDs were present - Chinese executive directors failed to show. As I asked about a loan to the CEO’s mum that had not been repaid, the NEDs said they were unaware of this.  I pointed out where the loan was referenced in the annual report and the NEDs said they would go away and investigate. They did not. Only when they stopped getting paid did these useless upper class twits start to ask questions. Wind forward to today and it is time to shift the blame.

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