Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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Wait let shetty do another investigation here in FIN and again blame the rest of the world.
So basically the plan was to list all his companies in the UK burrow way more than they ever put in! Ffs. Thanks Uk for letting them list here and screwing us up
Funny old thing they have found 1.3 billion debt that the BOD were unaware of!
110k. Which was upto 130odd K the day it got suspended.
Out of interest what sort of sums did everyone have invested in NMC which is now gone? Around £4000 for me, sad face
We know what adr is. What we dont know is how to move our useles stock there. Too late for me gone to some charity of Halifaxs choosing
American depositary receipt
An American depositary receipt (ADR) is a negotiable certificate issued by a U.S. depository bank representing a specified number of shares—or as little as one share—investment in a foreign company's stock. The ADR trades on markets in the U.S. as any stock would trade.27 Feb 2020
Guess time will tell... do you have any idea when they'll be removed or changed at all? I'm with HSBC
I'm treating them as worthless and quite frustrating to see 10% of my portfolio essential vanish
Andrew, I think it is reasonable to assume the shares are worthless. They are showing as being 10p on my HARGREAVES account but think even this is optimistic. Just hope you were not taken in by some of the ridiculous posts on this site talking of massive recovery.
Ok.
Hi guys, first time poster here.
I purchased NMC shares earlier this year for around £22 per share.... £4000 worth. In essence are my shares basically worthless? On my brokerage account I can still view them and it says they're £9.38 but of course unable to trade them.
Cheers
Really it comes down to whether Shetty can be believed. Why issue a statement like this? He is either arse covering or he has done his research. His comments previously about legal basis for his shares being sold do fit this new statement. I would be happier if he is telling the truth as he will move heaven and earth to recover funds, save his company which might go beyond administrators willingness. Still it still comes down to how much they can recover.
I messaged mr davis to ask on IG, he read my message but (ofcourse) didn’t respond.
His forensic team forgot to tell him that
“ This fraud also appears to have been undertaken by a
small group of current and former executives at these companies”
Who is the “current” executive(s)??? There’s only mr. Davis left??
My guess is they would of continued this forever same as Bernie madoff did until something comes along and stops them.... they got caught out a little too early as muddy waters targeted them. So they quickly sold out all the shares. And blamed margin calls! Ffs we got nothing from 938p! I hope the banks take all their companies!
Shetty dont know how my shares were sold. Dont know where $4 billion went. Dont know who I am. Will need to do forensic investigation to find out if I am the real Mr shetty. Il let you know in a few months if im him or not. For now I will neither deny or admit I done nothing wrong. I mean when I wanted $1 billion to start new ventures prasanth did arrange it but the fool did it without my permission and without my knowledge. Erm ok yes shetty.
We always figured he would say it wasn't me. And prasanths would be lined up for the fall. Erm no shetty you and the buttis took the money enjoyed life set up various other companies with NMC loans. You paid $1 billion for travelex which is effectively now insolvent!
This is the explanation everyone expected Shetty to make; deny all knowledge and blame his executives. It's a little bit more difficult for him to explain the rational for selling 2.4 million shares 2 weeks before suspension and not informing the market.
The only words that matter, are those written in the courts and legal proceedings.
What do we think to this then
https://gulfnews.com/business/banking/small-group-of-employees-behind-fraud-at-nmc-health-1.1588149107175
Mrd, it comes to the same thing. If i lose £20k on nmc , doesn't matter what platform i lose it on, spreadbetting or actual stocks. You still lose 20k. I know how much you lost, and you're on my thoughts most days when i lapse a little and think should i try again. In fact i did lapse , and did £400 a point on lloyds when it was 55p, guarantee stop loss at 40p, cost me another 6k. Who would have thought it would go to 27p! I make nothing from that book, just saying it helped me.
We weren't spread betting. We were investing. In healthcare company ffs. Not a $4.5 billion fraud company..
Thanks Dannyspaniel. Just fed up of having loads of winning trades and then getting wiped out in a blink of an eye. I spread bet alot, but get stop lossed out on 20/30 % drops , that just kills me off. This one was even more painful !
Rastuss, the teacher was spread betting, the book is surprisingly good, and he donates all proceeds to GamblingAware, so worth a read to help others.
Kingrav. I feel your pain!! I always stuck to ftse100 to avoid this type of situation i.e. fraud.
This stock has made me quit the market for good.
Read a good book above, that highlights how we're all caught in an endless trap, where whichever way we play it , we lose. It helped me quit, thought it might interest someone here. The author himself lost £135k, and he was a primary school teacher!