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VINDICATION: Telit – FCA enquiry widened, implication is of wholesale securities fraud re 2017 placing

By Tom Winnifrith, The Sheriff of AIM | Tuesday 18 December 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.


The fraud that is Telit (TCM) continues to unravel. We already knew that ex FD and CEO Yosi fait was being investigated for selling all his shares in early July 2017 while he was aware of damaging price sensitive information ( a profits warning) – that would be insider dealing. We know that founder, former CEO and the man who is still running Telit via puppet directors, Uzi Katz, is being investigated for not admitting that he was a fraudster and fugitive from justice.  Now it gets bigger.

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