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1 Feb, 4 tweets, 4 min read
@ArmitageJim @premnsikka 1/ Leeds finance firm boss Liam Wainwright banned from being a director for adding >£12m in false entries to company records. businessleader.co.uk/lender-who-add… . “Under the hood”, the case becomes rather more interesting. The administrators proposals tell ... Image
2/ the all too familiar gruesome tale in the “Wild West” that is U.K. Financial Services. The debenture holders & company’s directors included rather fascinatingly the now deceased Lord (Prof.) Barrie Pettman & colleague Dr Richard Dobbins, amongst other things academics & ... ImageImageImageImage
3/ prolific finance/accountancy writers/publishers en.wikipedia.org/wiki/Barrie_Pe…. The administrators proposals outline a quite astonishing “bitch fight” in the “mysterious world of corporate insolvency” between debenture holders mounted on their chosen Insolvency Practitioners. ImageImage
4/4 Worthy of a case study all to itself on #CorporateGovernance, Insolvency, alleged #fraud etc ...

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More from @ianbeckett

Ian Beckett Profile picture
2 Feb
@ArmitageJim @premnsikka 1/ As TheTimes/Guardian peddle the “play the man” spin-byte(in contrast to the Standard for eg), perhaps we should think about what Dame Gloster “DG” said about the FCA’s (FSA) impenetrable apparatchik fatcattery & it’s hundreds of thousands of victims. ImageImage
2/ DG told MPs that the @TheFCA was broken with a culture of (paraphrasing) turning a blind eye to fraud + other behaviour endemic in UK Financial Services hurting so badly the public, she went on to tell MP’s that networks operated both inside + outside of the FCA’s pitifully ..
3/ small regulatory perimeter + that the FCA refused to look outside their pitifully small regulatory perimeter. DG didn’t talk about the porous nature(A.R.’s) of the FCA’s regulatory perimeter eg its “regulatory + hedge fund hotels” which means fraudsters + ex-cons are ...
Read 15 tweets
Ian Beckett Profile picture
31 Jan
@ArmitageJim @premnsikka 1/ The Times’s @AlihussainST opens the lid again on the secretive networks that operate both inside + outside of @TheFCA’s pitifully small “porous” (A.R.’s) regulatory perimeter unfettered + without fear in ‘What happened to the £160m we put in ... ImageImageImageImage
2/ “secure” investments?. Bonds promising high returns were used to fund bizarre schemes around the world’. What isn’t in the piece (but still queued up for the “curious case” treatment) is that the #LCF crew played host to Bradley Lincoln’s activities, #LCF bondholder ...
3/ victims will also recognise Mr Zhang alongside the doyen of Sussex & Kent Tory MP’s, former MP’s + former council leaders #LCF crew-mate Simon Hume-Kendall, talking turkey over the LCF crews notorious Lakeview multi recycled/rebranded “scheme”. The #LCF scandal ... Image
Read 10 tweets
Ian Beckett Profile picture
23 Sep 20
@retheauditors @premnsikka @alexralph 1/ The curious case of Grandmaster Flash + The Liverpool Motley Crew. In 2019 TheTimes wrote of the notorious “SKW Investments/Imperium Enterprises” pensions liberation “scheme”, chess grandmaster Simon Williams + chess club chum the …
2/ infamous FSA/FCA IFA Gary Quillan & associates pulling the strings. The SIPPChoice vs HMRC (The tax aspects of the “scheme”) case fleshes out the basics + leads in to yet another case study in FSA/FCA gross regulatory failure, with hundreds of victims both SIPPshitted + …
3/ + facing tax whilst vast amounts were snaffled in “fees” bailii.org/uk/cases/UKFTT… . The court case points to a secretive web that operated both inside & outside of the FSA/FCA’s pitifully small porous regulatory perimeter. Key figures highlighted in the case included ..
Read 23 tweets
Ian Beckett Profile picture
15 Sep 20
@retheauditors @premnsikka 1/ The Notorious Stephen Ward dailymail.co.uk/news/article-7…, yet another “government advisor” that devastated the pensions/life savings of hundreds of victims, plugged in to the secretive networks that operate unfettered both inside & outside of the FCA’s..
2/ pitifully small regulatory perimeter it’s no surprise that one of his japes “London Quantum Occupational Pension Scheme” included so many “familiar faces” from the “curious cases”. The rest are in the queue with the exception of “Mallets Loan Note” - a despicable tale of a .. Image
3/ a pair of UK solicitors gov.uk/government/new…, enough for them to be banned as directors but seemingly just like #LCF’s Sedgwick not enough for prompt action from the @sra_solicitors. If we look at the biggest scheme “investment” - Quantum PYX Managed FX Fund, it’s no .. Image
Read 7 tweets
Ian Beckett Profile picture
11 Sep 20
@retheauditors @premnsikka 1/ while the #ICO brought to book with a £135k fine pensions cold calling cowboys CPS Advisory Ltd decisionmarketing.co.uk/news/welsh-fir…, turns out CPS Advisory’s Messrs Cullen, Payne & Standish also controlled another Swansea based alleged cold calling op ...
2/ JMR Financial Ltd. Messrs Cullen, Payne & Standish also control FCA IFA’s (auth by the regulatory cat flap - A.R.’s) “Secure For Life Limited” secureforlife.co.uk and “SFL Wealth Management Ltd” sflwealth.co.uk. James Michael Cullen is a FCA IFA assisted by ... Image
3/ “regulatory capflap”(A.R.) veterans & FCA IFA ranch hands veteran Ms Anna Marie Payne & Nigel John Ogden. Mr Standish however had bigger fish to fry as allegedly a director of notorious “We Claim U Gain Ltd” part of infamous Neville Wiltshire’s “Save Britain Money Ltd” ... Image
Read 4 tweets
Ian Beckett Profile picture
29 Aug 20
@retheauditors @premnsikka @alexralph 1/ The High Court case (CR-2019-001949) at the centre of the curious case of “Game On” in the mysterious world of corporate insolvency that saw tens of £millions allegedly end up transferred to the LCF crew … ImageImage
2/ (a large part allegedly directly from LCF’s payment institution account) is over. Judge Mullen found FOR the LOG administrators(Applicants)/AGAINST the #LCF crew(Respondents)+ concluded he was satisfied that the novation agreements were void (entered into without authority).
3/ Alternatively, the Judge would set them aside (transactions at undervalue). The case gives further insight in to unanswered questions: 1. [s3] LOG administrators allege most of £32.6m (LPC pref shares SPA aka “Mazars Step Plan”/“Technology assets” plan) was transferred to ImageImageImageImage
Read 32 tweets

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