Thread by @FITaylor3

Truth vs the lie.

U just lost 6million quid in a month and were cutting liabilities including IPD. Yet you lied and told us you had never been so financially strong & cut IPD to help expand globally! You're finances were a bloody mess that's why you did it! #footballindex

30% increase was received poorly because your imbecile CEO told us all to expect rockets then gave us goalkeepers, adding no value to our bets! Someone show the solicitors the video of the dubbed guys wetting themselves! #footballindex

Truth vs the lie we were fed again. We were made to believe this was a change of roles. Exciting changes blah blah. Not that he stepped/was pushed aside because they were hemorrhaging money! #footballindex

As seen in the last post, after losing £6m in a month, even LP001 was selling up in December and January and they were paying Fame ventures, ACs 1 man company 9million a year. Yet they told us to be excited for 2021 and they were financially stronger than ever #footballindex

I hope the judge sees this as clear as what it is. They knew this was coming a long time ago! FI admit that it is the reason they never reintroduced IS and they lied to us for a year while siphoning money off to Fame Ventures and probably Indexlabs too.

They also admit to cutting it as it became unsustainable and that this caused the market to fall. Yet they sold the matching engine as the start of something amazing, not a necessity. Part 1 of nasdaq order books apparently. No it was a way to mask ur company falling to pieces!

Anyone who had any doubts about the MB video... They were already engaged with the Begbies before that Q&A video!!!!

They were issuing shares WHILE IN DISCUSSION ABOUT POTENTIAL ADMINISTRATION! We all knew he was lying!

Many deposited money while this went on.. #footballindex

"setting expectations"? Watch that video and tell me he was anything but positive in his demeanour! Lying bastards. He was in a meeting with Begbies 3 days earlier. This was a last desperate ploy to draw in 1 last flow of cash before they pulled the plug. Criminal #footballindex

Just to be clear here, BetIndex was left with less money in it's account than the annual fee it paid Fame Ventures... lock up AC. @GamRegGB what the hell were u investigating? U have let everyone down!! @OliverDowden do the right thing, this is a national disgrace #footballindex

Just a reminder for you. They were in discussion with administrators while he filmed this, a Q and A suggesting discussing key improvements was criminal.

If it was to update us then a simple:

"Nasdaq got binned months ago but we are stringing you along, liquidity is never going to happen because no one wants to touch us and the media monitor was ready months ago but we shelved that too" would have sufficed.

No disguising this. Absolute con men. Then...

To delay it another week to bleed more under the guise of having too many Q's, only to later claim it was because finances suddenly became clear. 2 bloody lies. Finances had been shocking for nearly a year & u had Begbies in 10days earlier.

Ur going to jail #footballindex

Gets worse. They lied to their shareholders too.

Oakvale in the process of raising £60m you tell them a few months after accepting that their efforts were unsuccessful in getting £35m?

If they claim circumstances changed etc by September, why isn't that documented? #liars

Even Indexlabs want rid of FI now. The money has all been moved to project Hadron, they have tried to kill the product at our expense so that they can use the money to start a new venture.

@OliverDowden lock these criminals up and get us our money back

He literally paid himself 9million quid with our money, then told us the money had run out and that they had nothing left. This man is a criminal and needs locking up. This is illegal #footballindex @OliverDowden @GamRegGB @BBCPanorama @BBCNews @itvnews

A reminder that he recorded this 4 days after consulting with administrators... That smirk is burned into our minds until we get justice, our money back and for some that might not fix the damage it's done to people on a personal level. #footballindex

This is a criminal case, in the words of their own administrators!

1) issuing IPO
2) minting shares in all players at any price
3) buy rebate to encourage buying/depositing
4) q & a on key improvements
5) delay q & a to allow for pay day

1/2

All happened AFTER the consultation with Begbies began!

U deliberately attempted to suck every penny from customers, then reset the market to 0! How about providing evidence of the LP001 activity in the last few months!?

#LockThemUp #RefundOurMoney #footballindex @LeighDay_Law

The value of open bets based on prices paid, £124million, yet FI only had £7m to their name...

That doesn't happen by accident!

Look at the sell value. That is a 95% loss in value of players bets! How were they not shut down earlier @GamRegGB

#criminals #footballindex #fraud

So they issued new shares & allowed people to deposit not only knowing that they were about to slash dividends & in their own words, value is based on dividends. But they had already decided to go into administration.

Cutting liabilities - our bet value!

Knowing they were going into administration & still accepting/encouraging deposits & the placing of 3yr bets is just another example of the fraudulent activities.

Along with all the false representation of finances & improvements that never happened..

#criminals #footballindex

With everything now becoming clear, how on earth have @Begbies not followed their own advice here? All assets should have been frozen and they should be chasing the money trail to get it all back. Get those crooks (AC&MB) as far away from our money as possible #footballindex

From my recollection, ABSOLUTELY NOBODY was asking IPO, the replies to the announcement says it all! We all smelt it, but you kept lying to us to keep us hooked in, false promise after another!

Another clear example of FI scraping for more of customers cash to save themselves!

FI blamed traders reaction for their decision to up Divs in August 20 (in thread). They have DELETED THE ANNOUNCEMENT TO HIDE THE EVIDENCE...

But here it is! U claimed to have weathered the covid economic storm &be in a stronger financial position than expected! #footballindex

This hurts. This was 1 of 2 deposits made AFTER they began talks to go into administration.

All because of MB's video promising updates on key improvements after months of "key improvements are coming" & "I will focus on delivery, not promise"

4th pic says it all
#footballindex

@FootballIndex still deleting evidence while in administration and in the middle of court proceedings.

Another 12 tweets deleted in the last 2 weeks, what are you trying to hide if you have done nothing wrong?

LD & Begbies have been notified #footballindex

trade.footballindex.co.uk/announcement-2…

Interesting timeline of events for this update/announcement.

Notice the length of this update & how T&C's changes get a tiny mention right at the end. Sandwiched between IPD replacement (focus for most who wer eagerly awaiting this) #footballindex 1/6

& the last part IN BOLD to distract focus away from T&C, towards them stressing "regular incremental improvements". Same as the IPD removal post, finishing with expansion talk to distract from reality. Also notice the tweet with this made no mention of T&C's #footballindex 2/6

Lots of things included to distract us. What was that change was the first thing that came to mind...

1st photo was Sept 20, 2nd photo is the version as of March (possibly the update they spoke of). Notice the change they made! Bloody big one! #footballindex 3/6

They deliberately tried to hide it amongst other big news, as they were legally required to inform us, but didn't want us to know! A change this big should have been made perfectly clear & been worthy of at least highlighting in the tweet, not removing shares! #footballindex 4/6

This shows they knew the end was near back in January and removing IPD, issuing new shares, cashing in on LP001 while putting on 2 separate rebate offers spanning 4weeks in the space of 3months & the Q&A crap was an attempt to boost their finances as much as possible.. 5/6

Selling us bets they knew they couldn't honour & would be either slashing the value of or going into administration (they did both).

This was part of a bigger plan going back months imo & we all know it was to let FI die, while siphoning as much as possible to IL #footballindex

They want to expire bets for the first time, when customers have no chance to do anything about it. If this takes years, then most people's bets at the end would be worthless.

Not happening!

AC always promised notice of shares expiring #footballindex

Not to mention the tax bill they will leave themselves with, that they cannot afford to pay!

Clear history of telling us they will not expire any shares without significant notice. We will not tolerate the expiring of shares (doesn't apply to me), it is not fair to effected traders

This shows the shares issued by @FootballIndex after their changes to their T&C's. Some serious money taken from customers!

Pieces put together shows all these shares were issued AFTER the 22nd when they contacted Begbies on the 15th! #footballindex

To follow this up. I've spent a a few hours plugging numbers. Based only on the top 50 issued players between the 2 given dates from FI, 18th Feb & 3rd March:

FI issued 133, 630 shares. Having looked at each players price range for these dates to estimate value, these equate to

Approximately £304,244

That is customers money that they took after contacting Begbies, knowing administration was pending and BEST CASE scenario that money would have been spent on shares about to be decimated in value.

This is just the top 50 players too! Issuing continued..

For at least another 24hrs too, so the real figure is likely to be much higher. But as a starting figure it makes my blood boil that this along with IPO money came from them conning people out of their money! This was as malicious as it gets! 🤮😡 #footballindex

leaprate.com/forex/platform…

Old interview with AC himself. Nothing fancy. But this response to a Q'n on his business model. How basic can you get. Doesn't mention minting of shares revenue and how they need to ensure the commission + minting must cover divs. 1/2 #footballindex

He didn't even understand his own business model. Yet the @GamRegGB gave them a licence, despite them not understanding it either - in the words of AC himself! What a tremendous cock up. Not fit for purpose #footballindex

casinoguardian.co.uk/2021/03/22/ukg…

I've not targeted the GC much in my thread as we don't have as much information about their involvement/investigation. But there is no doubt they let us down massively - see thread. Their priority is to protect customers. They failed! 1/7 #footballindex

From the GC website. #1 priority is to protect customers from harm. Yet they licenced a product that they admit, had elements that didn't fall under their remit? So that was effectively unlicensed then???

Yet their review saw no reason to intervene?

2/7 #footballindex

So they examined the business model, that not AC or anyone seemed to understand. That AC said the GC didn't understand. Yet, they thought it was ok to continue providing a licence for them to keep taking money?

This happened before the 100% dividends increase. 3/7 #footballindex

So it possible that finances weren't a massive concern, but they weren't great. Combine that with a weak business model and surely the advice should have been "to monitor the coming months" especially after covid. 4/7 #footballindex

Summed up nicely by the fact the GC statement claimed bets expired after 3 years. THIS NEVER HAPPENED! They had no clue what was going on and were likely deceived just as we were. They didn't dig deep enough! The investigation was a token gesture! #footballindex 5/7

If they did a proper job, it would have been clear there was a flakey business model, iffy finances & no direction. They should have concluded to monitor the platform closely, then they wud have intervened when they heard of a 100% increase in dividends?! #footballindex 6/7

This would have saved the community 100's of thousands, possibly millions over the following 7months ish. You let us down. You failed in your role. Do the right thing! @GamRegGB @OliverDowden @DCMS #footballindex

Can't believe GC flagged concerns 2yrs before the collapse, it took them an entire year to launch an investigation!! During which they contacted the FCA as they knew the licence wasn't suitable. Like many I signed up after this date and lost £1000's! 1/4

This response to the concerns is absolutely nowhere near good enough and has contributed to the massive harm caused to 1000's of people! We have been failed at every turn! 2/4

#footballindex

How on earth they didn't suspend the platform completely until the investigation was complete to prevent further harm.

If resolved it could have relaunched safely and if not, major damage limitation and return as much funds as possible to customers. 3/4

#footballindex

I would not have lost a penny if the @GamRegGB did their job properly & lived up to their responsibility and #1 priority... To protect people from harm!

This has hit me for 6. I knew they were investigating in '20 but had no idea they had concerns in early '19! #footballindex

Look no further than this for motive. 7mins in Head of Engineering at Indexlabs says "FI only needs to survive for a year or 2" (lasted 2 weeks), "don't want FI using up all their time", basically they would rather it on Hadron. 1/6 #footballindex

They "don't have another name for FI AS IT CURRENTLY IS", "Hadron can be deployed in any territory" etc.

Seems pretty clear the MO for IL was to build Hadron to replace FI. This is what everyone suspects to be the motive, kill off FI, filter all assets to IL 2/6

Maybe it happened faster than they intended and had no choice to pull the plug early but they used our money to build a new product, as he says at 7mins & 1:03hrs, he probably didn't realise FI users would be shafted but he knew the goal was to build a new platform for AC &co 3/6

I watched this when it first went up, never twigged the date... AFTER Begbies were called and the day before the MB Q&A video! Talking about taking the company global, little did we know that it would be without us, but paid by us! This is fraud! 4/6

They took all of our "bets" & used it to build a new platform as they knew they cocked up FI so bad it was unsustainable. No intention of honouring those bets. 5/6

But they kept telling us the opposite to keep us funding Hadron. As RJ says at 58mins, 3days after directors called Begbies "covid hasn't impacted us". Because corrupt & incompetent management killed FI, not covid! #footballindex #footballindexfraud 6/6

4 more tweets deleted yesterday! Same day the judge gave his verdict on the protected funds! I informed @Begbies that this is going on 2 weeks ago, nothing is changing.

Also the link from this tweet - now "private". FI know they are guilty! #footballindex

@FootballIndex are on -153 tweets since March, which included 34 new tweets in that time.

So that makes it approximately 187 deleted tweets since collapse... Clear effort to hide masses of evidence, wouldn't you say so @OliverDowden @Begbies @LeighDay_Law #footballindex

Hindsight's a wonderful thing, especially when u have evidence.

Some snippets of the update that told us of the dividends cut. Still trying to sell it as part of the Q&A & the necessary next step etc...

Even that the financial advisors &board approved the cut #footballindex 1/8

Funny that as we have evidence from your court documents that show 5 hours prior to this announcement your board agreed to enter administration...

This proves the div cut was not about restructure and next step etc... It also wasn't our reaction that forced u! #footballindex 2/8

Even tells us the ultimate goal of the announcement is to "provide a platform that rewards our football knowledge"... Get to 😡😡😡😡

Even suggested some enhancements, knowing they had entered administration. All bull💩
#footballindex 3/8

Then the next day we had the follow up... Again full of 💩

Apparently the recovery plan included IPO and Issuance. So they thought diluting the market further with more players and more shares to be sold in an already struggling market would save it? Rubbish! #footballindex 4/8

Was all 1 last cash cow to get books as strong as possible when they pulled the plug & to cover up their mess.

Next bit is a stone cold lie.

Engaged Begbies on 15th of Feb, shares were issued into March! Restructure was announced after entering administration #footballindex 5/8

You took all our money to Index labs and fed us this crap.

They had the cheek to tell us this, knowing they were already in administration but waiting to let the market crash so that they could blame us for going into administration! #footballindex 6/8

Part 2 of the cover up, 6 days after they entered administration, they decided to blame our reaction to what was effectively, a pretend dividend restructure for their decision.

Despite the fact they made the decision before we even knew about the restructure.

#footballindex 7/8

It was not a deeply regrettable decision that you were hoping to avoid...

You made it 6 days ago before we even knew about the dividends restructure!

You stole all our money, then blamed us for it! There are no words for people like you and the harm uve caused! #footballindex

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