Yet another boardmember at Quindell has bought shares in the law, insurance and technology conglomerate, the company announced on Friday.Bickleigh Ridge, a company controlled by non-executive director Steve Scott and his family, has bought 175,000 shares at a price of 120.88p a share, equal to £211,540.Scott and his family now own over 5.81m shares in the company, equal to a 1.33% stake.Quindell announced on Wednesday that three directors including founder and chairman Robert Terry had collectively bought almost £2m-worth of stock, snapping up nearly 1.6m shares.The boardmembers made the purchases because they "believe the current market valuation of the company is materially below its true value" and that they are confident of Quindell's long-term prospects, Terry said.The directors secured funding for the purchases via a loan facility from Equities First Holdings, a securities-based capital provider for institutional and individual clients, that may result in the transfer of up to 51.96m shares as security. They agreed to redeem the transferred shares at maturity when the loan is repaid at the end of the two-year term "and it is their full intention to do so".Scott also used that loan facility, the firm said on Friday.Top Director BuysQuindell (QPP) Director name: Mr Stephen ScottAmount purchased: 175,000 @ 120.88p Value: £211,540Aberforth Smaller Companies Trust (ASL) Director name: Mr David J JeffcoatAmount purchased: 2,230 @ 1,115.00p Value: £24,864Old Mutual (OML) Director name: Mr Patrick O'SullivanAmount purchased: 8,681 @ 191.80p Value: £16,650Menzies(John) (MNZS) Director name: Mr Iain NapierAmount purchased: 3,102 @ 322.40p Value: £10,001