We would love to hear your thoughts about our site and services, please take our survey here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
Whispering "$50 million sat in an escrow" if that is what you believe and it's been in their ready to be paid out for well over a year now but Amit has so far refused to then surely that in it self is fraud?
Just goes to show how stupid Amit really is, he's now been caught out twice for lying firstly about Hugh Risenbrow and now CIBC bank, he doesn't seem to realise how easy it is for pi's to fact check his lies. The next bs update should be very interesting, could this be the beginning of the end?
As has been commented God knows how many times, it is impossible to prove a negative.
And that is something that both Amit and the optimists rely upon.
"$50 million sat in an escrow account"
Only as told by Amit, and nothing is verified, and no one paid, over one year later.
"Deeply misleading? I very much doubt it"
Yes, deeply misleading! Where is your evidence to the contrary?
$50 million sat in an escrow account Spike… so says the CEO of Cloudtag … also UK FCA registered director of SB Corporate Finance - used for raising funds… for guess where?
Hard to untick these boxes one thinks …
Deeply misleading? I very much doubt it
Nevertheless you can - and no doubt- will continue to try
(i used to deal with maxwell. he was genuinely very clever, experienced and v expert about FX derivatives including related legislation … but i always had to count my fingers after I shook hands with him!)
Re whisperer’s 09:43 …. if a pi finds if reassures them in some way that a CEO is “legitimate” by taking at face value something that CEO chooses to say about themself, then of course that’s the pis choice (and also their risk.)
maxwell claimed to be honest, meticulous, reliable, expert about financing, law & regulation. so too did bernie madoff, & so too did charles ponzi. but it would have been a very serious mistake indeed for a punter to look at madoff’s CV, prominent positions he had occupied, expertise he claimed etc, and then for that punter to assume that those things demonstrated that madoff was “legit”.
amit claims on his cloudtag website that he has “expertise in risk and regulatory compliance.”
well, big whoop; amit has also claimed all manner of things through various updates on that same website which have turned out to be utterly untrue.
but it’s not “expertise” that needs to be primarily in question, imv — it’s more about *honesty, integrity, reliability*, and delivering on promises ethically and efficiently. someone could genuinely have a lot of “expertise” in a certain areas, but then still choose to ignore or even misuse that expertise for their own ends.
madoff did genuinely have lots of high level experience and expertise in relation to investments, bonds, stocks, regulatory structures etc etc… but he actually used that expertise to confuse and mislead others in criminal fraud for which he was convicted. similar history re nick leeson, who was actually v knowledgeable re regulations and expert re compliance frameworks re derivatives, and used that to conceal his mis-deeds for as long as possible.
cloudtag itself is *not* a UK company. it is not regulated from the UK, and does not have to obey UK legislation or governance requirements.
whisperer specifically tried to argue at 16:36 on 9/4 that amit would have deleted the CIBC bank details from that march cloudtag update because it was “More likely a breech of regulations”, rather than CIBC telling amit to remove their name, as Antha had suggested.
— but that’s absolutely nonsense; cloudtag only needs to obey st vincent regs (if it is still registered there!), not UK ones.
and there is nothing at all in st vincent regs which would prevent a private company registered there from choosing to say which bank(s) it was/wasn’t using for deposits, escrow etc. … or indeed saying which ‘agent’ it was using to distribute monies to shareholders.
amit’s past or present involvement in SB corporate partners, and any previous dealings with the UK FCA has no bearing at all on what regulatory requirements the private, unlisted, *overseas* registered company called *cloudtag* needs to obey. — it is deeply misleading to suggest otherwise.
"my question is this. Which is more deluded,"
It's definitely more deluded to still believe Amit when he's lied to every genuine shareholder for years and especially the last 12 months.
The ones who probably need the most help are those are have yet to mentally accept Amit has likely been conning them all along.
I am invested and take no offence to others questioning Amit's behaviour here – I see it as both sides of an argument. Currently, those who doubt Amit are winning because nothing released in an update has been backed up by solid evidence or actions, i.e. contacting and paying any shareholders. Amit is doing nothing to dissuade anyone here this is legitimate.
I think it's just people realising ad different points. I'm sure you will be soon Jdentist. Unless you get anymore imaginary updates you claimed from your broker.
For all those calling us deluded for wanting this to be a postive conclusion, my question is this. Which is more deluded, hoping to be paid from an investement or posting endlessly saying it's all a scam and not having a penny invested in here. I suggest a lot of you seek some help.
To be fair, the banks name has been removed from the 'update'. Proves everything. Over and out.
I'm not sure there's enough people left who want to defend Amit.
I have reported this so called entity to NCA and FCA . My post will get deleted by midday.
Spike
‘there is not much point talking about UK regulatory requirements, FCA etc, as cloudtag is *not* a UK company.’
I’m going to repeat what’s been previously discussed for the benefit of other shareholders reading this.
If I Joe Bloggs were to decide I wanted to purchase shares in a company called ‘Cloudtag’, fully understanding the risk v reward scenario, should I require some kind of assurance that the CEO was legit, then knowing this for a fact would perhaps give me some peace of mind.
By his own recently adjusted bio, he is claiming expertise in risk and regulatory compliance.
Amit as a UK citizen, also recently FCA regulated (until August 2023) as a senior director and money laundering reporting officer, and still a FCA registered a director of a UK finance company - SB Corporate Finance Ltd.
It matters to me not what you think in respect… you’re entitled to your opinions.
If he's been scared off using CIBC's name he might call it a day on this charade now and just ghost
Jackanory
The moment the reference to CIBC bank was removed it became clear to me that there was no money and that this payout was not going to happen. Whatever happened to the concept of under promise and over deliver? I can see so many reasons for having no confidence in Amit making payments and at the same time I can see no reason at all to believe that a payment will be forthcoming. The evidence and fact based scales are very heavily weighted in one direction I am afraid. I have no idea what games are being played or what the motivation is but I am now utterly convinced that this is a dead duck.
I can see no point in engaging with this chat board for the foreseeable future because no one on this board knows any more that I do. Lots of opinions and speculation but the only fact that we have is that a lot of statements and promises regarding timescales have been made by Amit and none of them gave been met. When all is said and done that is it as far as hard facts are concerned.
I will now put any thought that I may have had regarding the retrieval of funds from CTAG back in the draw there they were until this whole licensing/sale fiasco kicked off. I had forgotten that i owned any CTAG shares and I intend to forget about them again.
I’m sure there will be a some surprises… can’t wait …
Toodle pips
Looks like somethings about to catch up with him finally. Hopefully it brings complete closure to this ordeal.
I'm half expecting the next update to be 'Amit Ben-Haim and the future of wearables' with all mentions of the sale to be deleted at the same time without explanation.
Surely something has to be released about the elephant in the room or lack of! Now over a week since we were going to contacted by the agents…. Come on Amit spin us a tale.
I am indeed playing the subject —- but it’s pretty limited, frankly, since there is no evident substance at all to cloudtag (and never has been, imv).
so subject (1) is a easy one — i.e. to what extent would st vincent regulatory requirements prevent amit from saying which bank (if any) cloudtag as a private unlisted company is using as its piggy-bank?
& subject (2) is simply about the various updates, messages and games that amit appears to be using to try to keep pis believing that there is any genuine substance to cloudtag.
[subject (3) *should* be about cloudtag’s genuine corporate assets, activities and prospects, but not much point in discussing such, since there has never been any independently verifiable public domain evidence that there is any commercially significant and viable substance to cloudtag at all. — so in the absence of such, we can just chat about (1) and (2). …. there is not much point talking about UK regulatory requirements, FCA etc, as cloudtag is *not* a UK company.]
Spike…
Cage rattled once again?
Play the subject not the person… no?
Edit , soz, meant of course, “… zero reason whatsoever in terms of st vincent regulation why a company could not choose to say whatever they liked …”