UK 17:56 Friday, 23 October 2026
Breaking news and expert analysis on fast-moving AIM and LSE listed shares
For Ms Lingerie on Expenses MBE things go from bad to worse. As the FCA Criminal Investigation into her alleged misuse of client funds cranks up, as demonstrated HERE, at Drive Software, the company she owns and claimed was Tesla meets Fitbit, it looks ever bleaker with a crash landing in tits up alley now only a matter of time.
As I noted the other day, Ms Meyer has been forced out of the shadows by her bust up with former business partner Rene Eichenberger and so now appears at Companies House as a director of a firm which, as I showed here, is clearly insolvent. But it gets worse…
It seems that in order to stay afloat, or perhaps to protect assets for Ms Meyer ahead of an inevitable administration, the company has done a former of sale and leaseback on its own IP. So this is now a software company owning no software which makes it worth pretty much worthless. Moreover the company continues to hemorrhage staff, clients and cash.
A source close to the company says it has just lost its sales director who had worked there for 18 years and headcount, 35 when Meyer took control, is now down to 10-11. Worse still, Drive’s biggest customer by a long chalk, TCH Leasing has recently moved to a rival system which, I guess, will reduce Drive’s annual turnover by more than £100,000. All of the remaining customers are FCA regulated so must surely be considering whether to move system provider given the criminal investigation by the FCA into Ms Lingerie on Expenses.
It does not look good at all.
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