Member Info for Castaway

I think the shs were pledged to different lenders - no idea how you could do this, Shetty saying he didn't know how many shs he had made me wonder and he was hawking them round the city last year - as rumour had it.

I saw that and I bet he didn't borrow against them on the date stated - bent as hell!

Ironically though AIM is considered a casino, if NMC was AIM listed they would not have got away with it - the nomad would have seen what was going on

KSH - there will be no value in his assets that can be seized - they will all be leased or be borrowed against - he was at the end when NMC collapsed all credit he could get was used up.

Mrd - I doubt that business has any value - he will have borrowed against it

The whole thing is a scam - the fact they didn't alert the market earlier this year they must have known it was going t**ts up - all the BOD are culpable along with EY and they should be brought to book.

I was long on FIN until the RNS in NMC on the 26th - bailed the next day - it was a nailed on short - I wish I had put one on - that is screwed as well IMO, as all Shetty's companies are IMO - he is leveraged up to the nuts on them all

KSH - early days, the law moves slowly

NMC suspended the shs but the FCA would have the next day - all along they have played the game of obfuscating the real position - getting in Freeh, Moerse etc. - no one is innocent at the top either - they must have known - all the independents and allowed the fraud to carry on.

Shetty has done far worse than Green - and as he is an Indian citizen I think it would be impossible for the UK Gov to get at him. He will no doubt live a luxury life in India until he dies - after scamming many in the UAE and the UK

EY need to be heavily fined for this lack of regulation - fraud from IPO possibly.

Totally agree KSH - this is about regulation, or complete lack of it - EY need stringing up.

EY's audit fees (apparently) made up for only 50% of the total - Shetty et al was bribing all and sundry IMO

I believe the hedge funds knew Shetty was after cash - he probably kept it in the UAE until last year but was running out of cash so he went outside and MW picked this up

adzy, I suppose it depends if Shetty and co. had the right to borrow on behalf of the company - as they were the senior directors, I suppose they may have? - big court battle maybe?
The RNS today did give the impression there would be continuity of operations. The wages for Feb have been paid - the company will carry on. I am not sure how much shareholders will get though?

The sort of shorting a PI does will never harm a company, i.e. with CFD/SB, I have mixed views on it, it can be used to destroy the s/p of a good company or like in NMC expose a fraud

Good call tindrum

Hi ripley - Sorry no idea about Petra - I believe BOD is a well run company with an honest CEO and potentially great assets. VAST is different, it's potentially mid cap, but it depends on an African Gov. delivering - it will I think in time.
I personally mistrust TW and think he has ulterior motives much fo the time. As I don't know him personally I cannot be certain however.

They could be good opportunities - you have to DYOR though sometimes the shorters are incorrect

I should think he is still worth a few hundred $mil - enough for many bodyguards and in his home territory he will be pretty safe IMO