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https://www.ft.com/content/1f971ea0-89bc-4072-b078-77c1332f7776
"The opaque nature of some of the Gupta-linked investments had made some Credit Suisse executives nervous, said people briefed on the discussions."
Take out all extrader monologue and look at the crux of why Greenhill failed (deliberate to get you frothy exbraider)
I explained all this the other day
Two connected reasons : over-exposure to Gupta by Greensill Bank and withdrawal of first loss insurance for Greensill Capital by Tokio Marine, for non compliance with ins policy terms.
Greensill notified of intention to cease cover in August of last year, according to FT [on a roll at the moment, with Wirecard]
Add in Credit Suisse failures in due diligence and Greensill shareholder SoftBank 'roundtripping' loans to/borrowings from though subsidiaries...
Apollo Global reportedly offering $ 100 million for the carcase.
https://wolfstreet.com/2021/03/04/softbank-fintech-unicorn-greensill-on-verge-of-collapse/; and
https://www.bloombergquint.com/business/credit-suisse-missed-many-warnings-before-greensill-s-collapse
It's a bit more complicated than you make out.
HTH
All explained (with some extra detail) in this article :
https://uk.finance.yahoo.com/news/credit-suisse-missed-many-warnings-114423299.html
HTH
extrader , where is the Rivington.Street 100K?
I found this article in the public domain online and as you are allways on here asking Questions, perhaps you can answer this one.
What did you spend it on?
'In the staid world of accountancy and auditing use of language has to be tempered. The words fraud or allegations of are rarely used for risk to reputation or litigation. So for KPMG to come out with the below report is quite staggering. They make the point that Tom Winnifrith effectively lied to them and that the missing £100,000 is suspicious.
A reasonable interpretation of the below report would suggest that Tom Winnifrith has in fact stolen £100,000 of fund holders money and then lied to KPMG to try to cover his tracks'
Is the above true? Perhaps he can let us know what happened to the missing money. He should at.the very least have got his teeth fixed!!
'It's a mystery'
HTH
Why some one would pay £5.99 subscription for his rubbish I never know.
29 failed Directorships and who would take advice off him?
Called Johnny Hon a conman in 2015 and then in 2017 after Mr Hon as he was called paid a 6 figure fee to sponsor his share show a great man. Which is it Tom he's a conman or he's a great man. Funny how money can change someone's perception.
Probably he approached Az to sponsor his show and he said no??? Someone said he attacks this share because he doesn't like the name. Who knows?
I hope he patched up his tiff with Paul Scott. The guy who wrote( I think Tom wrote it reference Mug punters) that article about Syme. Paul was very vocal on Twitter about Tom pushing his **** companies at his roadshow. Must have been financially lucrative with his mate Johnny Hon.
So hes a man who uses a magazine to extort money or push his mates lifestyle companies so that they can get their death spiral finance out. Make your own minds up.
Well Tom the irony is the longer Syme is suspended the bigger the bang when it comes back. Egg on face doesn't quite cover it....
HTH
https://www.guerillainvesting.co.uk/2021/03/07/*************-covid-stocks-suspension-call-click-bait/
https://twitter.com/BrokermanDaniel/status/1368354433407606786?s=19
@extrader
I think everyone knows that, sometimes 'stating the obvious' deserves no answer.
'It's a bit more complicated than you make out.'
Good response in that link Gotham! Utterly ridiculous assertion by TW about the £8bn causing a disorderly market, he must have ulterior motives.
‘In September 2017, Winnifrith authored an article which claimed that the FCA would not be shutting down Beaufort Securities. In March 2018, Beaufort Securities was shut down, declared insolvent, and charged with fraud, following a joint FCA, FBI, SEC and DOJ investigation.’
No wonder TW doesn’t trust the company’s statement that no FCA investigation is underway. He assumes his level of deceit is standard. Perhaps an element of self-vindication too. SYME could still go either way but another little insight into who is behind the ongoing attack.
@Hellohihi
Well, TW has a 'vested interest' in stating that there is a FCA Investigation, he and his band of 'merry men' have shorted SYME. What else do you expect him to say? Beaufort Securities is different in many, many ways, totally out of 'left field'.
Adam, check yourself a minute.
As despicable as he is and as deserving as it may seem, please refrain from that sort of stuff. Just post the stuff that he hates reading, or mores the point hates the public reading. I mean who would sign up to the subscription blog of a tyrant?. There is plenty of it out there. His failings are far far greater than any achievements.
As Rudyard Kipling said 'Keep your head'.
.