i did hear he went back to his roots...shame he could not do more to help his original old dog of a company.....hmmmmm i wonder if joe case will still get 2k a month and if so where will the funds come from to cover that
To be honest mate, in the traditional sense of the word, I don't think it would be outrageous of me to venture that we haven't debated. In actual fact, I've provided a long list of pro's while all you've done is misappropriated the arbitrary findings of barchart.com. That said, I'm no fighter - though I am partial to a bit of wordplay - so I thank you for your best wishes at DQE. The inference that I am in cahoots with Riddler though is a little juvenile, no? In any case, ATB and GL with all your future forays into the unknown.
If you wish to associate with riddler who has posted bout gige, tonight, when the fella has dyslexia carry on mate. I will not debate with you or him anymore, not cause I am not capable but I choose not to good luck and hope dqe works out for you.
in the end no charges made against darren ridge but the damage had been done.....an even bigger dark cloud came over tricor when he came back on the scene earlier this year with issue rights etc...but i guess tric had no choice
Found this from 2002. Nick Mathiason The Observer, Sunday 30 June 2002 Mobile phone distributor PNC Telecom has issued a writ against its former chief executive Darren Ridge alleging 'he may have committed acts of misconduct' that those close to the company say could blow open a multi-million pound fraud investigation.
PNC is demanding the return of hundreds of thousands of pounds from Ridge, a millionaire living in Hampshire, but it is believed this could be the tip of the iceberg.
Investigations by the company, chaired by Lord Stevens of Ludgate, the former owner of Express Newspapers, have led it to accuse Ridge of misappropriating company funds by paying £74,000 to two employees who PNC claims never actually did any work. Ridge is accused of buying his wife's jewellery business using £12,000 of company funds after it closed down and failing to seek the board's authority for a further £168,000 worth of transactions involving other family members and associates.
It is understood that Customs & Excise and the police have been alerted to the possibility of deeper fraud involving VAT avoidance and further practices running into millions of pounds.
Ridge, who resigned from the company this month, denies any fraud or wrongdoing. He is to contest the writ and is counter-suing for breach of contract and wrongful dismissal.
Ridge sold KJC Mobile, the company he formed with partner Joseph Case, to PNC in June 2000 for £15m in cash, plus £15m in new PNC shares. PNC shares have crashed from a high of 410p just before the deal to 9.5p on Friday.
PNC alleges profits were overstated and that obsolescent stock, which should have been written off, was used to inflate earnings.
Last month the company said trading would be 'substantially below market expectations'.
There is no suggestion that Lord Stevens was aware of any of the allegations prior to a new management team headed by Ian Gray, the former Marchpole chairman, coming into the firm.
Barry Mordsley of Salans, the law firm representing Ridge, said: 'Darren Ridge resigned because he wasn't paid his salary. As a result we have issued proceedings for this and for breach of contract against PNC. It's true they've made allegations against him [Ridge] ... These allegations are vehemently denied. Any suggestions of fraud will be denied.'
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