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Administrators will give what they intend to do april 20th.
Whats happened?
So we find out our fate next monday then
Facebook shareholders group
https://www.facebook.com/groups/2994256800634010/?ref=share
Please join ??
https://m.khaleejtimes.com/business/corporate/nmcs-br-shetty-5-others-face-fraud-forgery-charges
Deos - I agree all faith and trust would be lost it would scare people from ever investing again it’s certainly made me more wary
Danny
I think Freeh worked it out and passed to these finance experts to pursue monies.
They cant rob shareholders then list again as a new company as know one will touch it.
They could go private but lose out on equity funding.
Obviously going after people personally now
Fck. Knows what will happen
80% recovered, with 64% fully paid back, that's quite incredible, even though it took a decade to get it back.
I suspect Freeh figured it out.
I hope they do restructure. Id love to get something back here! If no money then a hospital at the very least
If... deos... they could very easily pull the plug and start again...!
If restructured £13-£15
I hope they were ****y enough to not move any if their assets. Thinking theyl be ok. I hope the bank moves quick. Its obvious none of these banks ever talk because if they did theyd realise oh ok the debt isnt $2.2 billion! Shetty realised they all never talk to each other. So burrow from em all as much as you can then leg it.
Don't forget to report the IR guy to the CFA Institute, being a charterholder, for those minor ethics lapses.......(unless he was a whistle blower). I know it sounds harsh, but anyone who had the faintest knowledge of the fraud and was in a position to call it out should not have a career elsewhere in finance!
Faisal belhoul was brought in by the buttis to help get them off. Im so surprised shetty still defending his actions and probably pleading with prasanth saying please take the fall il take care of your family.
Exactly who I said. The shetty and prasanaths and buttis. They taken months for these lot to sell... adcb gone gung ho at them about time. Why were they allowed to leave in the first place. The buttis aint going no where though... they dont have a India to run away to.
They would just sell his shares off-market, like the buttis did with their 9%
Possible problem with re-listing and debt for equity swap idea is: Shetty still owns 5%, so why would they want to give any to him? Or could they find a way to confiscate shareholdings from him (and any others found to have been "bad actors") while still giving some value to the other shareholders?
Just goes to show how incompetent the old board was. The administrators have only been in place for about 5 days and they've already identified those responsible and are going after them. It's no wonder why ADCB lost faith in the old board and brought in administrators. I suspect the old board was sitting on this information for weeks and not acting on it.
Even Madoff who had siphoned and lost billions in one of the biggest ponzi schemes of all time has had close to $14 billion recovered from his web and returned to victims. https://www.google.co.uk/amp/s/nypost.com/2020/02/28/madoff-payout-to-victims-nears-14-billion/amp/
Irving Picard untangled his complex web and recovered that much. So the $4 billion might be recoverable or at least half of them. That much money doesn't go up in smoke.
https://m.khaleejtimes.com/business/corporate/nmcs-br-shetty-5-others-face-fraud-forgery-charges
I think at least $2 billion might be recoverable in hard assets (not cash but other businesses). Pretty much everything shetty owns is the property of NMC and maybe the same goes to the buttis. They might have both taken out huge loans and invested them into their other businesses, real estate and whatnot
Anyone want to get my suspended in space digital shares at £4? Holla at me.
Ha ha
The bank state owned are on our side i bet some of the Directors are personally invested
That must be good for us?