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BREAKING: As OneTrue View's sister fraud Appbox goes bust, a £5.4m lie is told under oath

By Tom Winnifrith | Tuesday 5 April 2022


 


Appbox Media is the sister company of One True View and has stolen around £15 million of investors money with the FCA standing idly by ignoring this massive boiler room scam in the heart of the City.  But while One True View is reinventing itself to steal more cash as revealed yesterday HERE, Appbox has filed for insolvency. But patsy director Amanda Hussey, the rather simple “fall guy” for the mastermind of this £50 million bezzle Polat Hassan, has now told a £5.4 million lie under oath. She urgently needs to get legal advice before Polat lands her in even more trouble than she is already in.


As you can see below, Ms Hussey swears under oath that the business has zero liabilities and that its assets,being largely goodwill of £5.4million, can be realised and distributed within 12months. Neither statement, I suggest,is anywhere near true.


We do not know the exact levelof liabilities as Appbox has not filed any accounts since those for the period to 31 July 2018. Since then the Auditiors have resigned slating the company for all sorts of reasons but the 2018 accounts showed that the only revenues generated were invoices issues to the sister fraud One True View and that sales of the game sAppbox was meant to sell were trivial. And at that point the company had outstanding liabilities of £1.7 million.  Of course Appbox carried on raising cash by issuing shares to new “marks” right up until September 2020 so it is possible that the cash raised went to clear liabilities and was not stolen but I doubt it. Why would Hassan be so generous as to payfolks like HMRC in full and not take all the cash as had been his wont?


As to the “goodwill” being realisable this is a reference to the company’s intangible assets which were supposedly the capitalised costs of developing its handfulof games which never sold. One suspects that, in fact all sorts of costs, not just those of paying a couple of low grade IT geeks were capitalised. The idea that someone is going to part with £5.4million for very old games which were never commercial is just fantasy.


But by claiming that the sums can be realised within 12 months,Ms Hussey – or rather Polat Hassan – will delay administrator Begbies from making real enquiries into what is clearly an almighty fraud for another year.  But, when nothing is realised and real liabilities emerge, I suggest that Ms Hussey’s statement made under oath will land her in some serious trouble.


Hat tip to reader PL for spotting this.


 


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