> 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 Tom Winnifrith | Thursday 11 October 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.
I cannot remember the last time a Northern Ireland player scored a hat-trick in an international. But tonight I am hopeful that Belfast’s finest, First Derivatives (FDP), will pick up three gongs at the annual AIM Awards crony capitalists bean-feast and do the six counties proud. Heading the charge is CEO Brian Conlon who is short-listed for “entrepreneur of the year” sponsored by Octopus Investments. The Judges will have ruled on that before we pointed out that his whole IPO was based on a fraud. It gets better…
First is also shortlisted for the Global achievement award sponsored by Cenkos Securities, aka Lagos Securities, the company fined and censured for its critical part as an enabler of the UK’s biggest stockmarket fraud for 30 years, Quindell (QPP). And First is also on the short list for Best Technology sponsored by crony capitalists Berenberg. Surely our brave boys from Ulster will pick up at least one gong to recognise how a company floated on the back of bogus numbers and which has done numerous dodgy related party deals is just what the AIM Casino needs as its posterboy?
The AIM awards dinner is revolting. With just 937 companies on AIM now (and falling) and most investors continuing to lose money this is a swamp that needs draining. Fraud after fraud is exposed yet nothing happens (think MySquar as a case study) other than ordinary investors getting financially raped on a daily basis.
But the AIM awards dinner is not for the victims of financial rape but for the rapists and their enablers, the army of Nomads, brokers, PRs, lawyers, paid rampers and accountants who grow fat charging high fees to keep this sordid show on the road. The companies pay those fees and they pay by issuing confetti to mug punters who lose money. So as 1200 crony capitalists pour themselves into DJs and party frocks tonight, order taxis to ferry them around and end up in expensive hotels pissed on expensive champagne just remember who is paying. YOU ARE!
When AIM was flying, the excess of the crony capitalists partying with your cash at Old Billingsgate by in the heart of the City, might have been overlooked. But now after another year of shrinkage and industrial scale investor rape the antics of the 1% just look disgusting. Shame on those who attend. My prayers are that a rapidly imploding First Derivatives ( down from £42 to sub £25 in a week) will sweep the board and with Versarien (VRS) a contender to win most innovative fundraising ( sponsored by Primary Bid) - just as its shares crash through the 145p Primary Bid placing price of just a few weeks ago - tonight might just mark the death knell for this obscenity, this display of vulgar wealth generated from fraud and crony capitalism.
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