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Private release:
Begbies estimated that Doyle had personally taken around US$30 million off the NQ table and Scott Levy personally benefited with around $20 million, but what the hell, report this to the SCO or the LSE, no way, lets sweep this under the carpet collect a large fee (US$500,000 per month) cover it all up, rig the sales process, give serious bidders 10 days to review hundreds of documents and then only when you know no one is going to bid, extend the evaluation perod. Then “after all the boxes had been ticked”, here you are “Doylie Boys”, screw the bidders who I hear offered hard cash, you can have the project for nothing, just payme some money and off Paul went as fast as he could trot to Nassau in the Bahama’s with family in tow of course, patting himself on the back for a job well done.
So the scum from down-under not only get away Scott free (no pun intended) with screwing everyone, we find out at the last moment that the Administrator had close connections with NQ prior to joining Begbies. Good one Paul, all this for US$3 million, my god, all I see from here is a $3million *****.
So guys, now that we know that Begbies are above the law and that the U.K. authorities are more impotent than an 80 year old eunuch, how about we do the same???? After all, copying is the ultimate form of flattery!
Let’s bring in some guys from overseas maybe the U.S. instead of Australia, and we all work together to do another Doyle??? Of course, we will have to do a deal beforehand with Paul Cooper so we can have the ‘final fix’ in place before we act. After all we now know that crime does pay as in the NQ debacle we have the perfect example.
I suggest we each list a project on AQUIS, work out a sweetheart deal with Scott Levy for some bonds, sell them to unsophisticated investors, arrange 40% revolving commissions to ‘smooooth’ the process with all concerned, pay a few guys with NQ money to ‘fix’ the bond holder meetings (even Lenigas confirmed the fix), line up a friendly Administrator and then offer a Banker a deal he can’t refuse to approve a large loan after which he can leave the bank and join the company. After that, and only when you can’t squeeze or steal any more money from the company, you put the company into Administration and pay your friendly Administrator to ‘give’ you the project back.
Wow, it’s so easy, why isn’t everyone doing it, I mean the authorities don’t care a flying cook, the stock exchange doesn’t care, the entire system is unregulated, so why not take advantage of the system and milk those suckers dry? No-one is going to do anything about it!
On that note, where is the FCA and the SCO right now?? Sipping tea enjoying a life of comfort whilst getting paid to fool the public that they actually do something??
When you know the system, you can get away with anything.
Talk about preferential treatment, ask yourself this why would Paul Cooper give White and Moroz two Doyle appointed nobodies permission to use an inter-company loan of £15M owed by NQ to Hellyer Gold Mines to bid for the project with only one condition, Cooper gets paid US$3million? Have they paid Cooper yet, I hear not yet as between White and Moroz, they don’t have ten cents to pay their best buddie. Never mind, they are running around offering equity in Keen Pacific to anyone who will give them the money to pay Mr. Cooper.
Good one Paul, free money to freeloaders who are now running around to raise money to pay you! Maybe it’s time the SCO investigated Begbies, and the Cooper NQ connection as there is something rotten in the State of Denmark. Even as far away as Wembley, the stench of yet another corrupt deal linked to NQ Minerals is today wafting through my office.
I guess we should have seen this coming because right from the getgo, Begbies had set the Hellyer Sale Process up to fail. No-one gets a fair chance with a compromised administrator and that point has certainly been made by NQ’s pet, Paul Cooper. Take a look at Hilco, a company chosen by Begbies to provide the mine valuation; guess what, they have ZERO experience in valuing mining project. So, rather than use an experienced, qualified mine valuer, Begbies chose Hilco a virgin in the game who rolled over when told, and not surprisingly the so called “independent valuation” came in exactly as the Administrator had requested.
Shoddy business?? You bet and who loses, everyone except the Doyle appointees who just keep winning time and time again.
Last night I heard that the Doyle Cabal are busy in London trying to strike a deal with Begbies to take back the NQ assets. Will Doyle, Dean and Levy win again via a sweetheart,’ Pre-Pack’ deal with the Administrator, one that gives them a second chance to “milk the cow dry” at the expense of everyone else??? Don’t be surprised as it seems the Administrator is being led down the garden path by Levy and yet again, Walter Doyles right hand man, James Dean to give them Hellyer so that they can start the game all over again. So beware, the scum in the Doyle Cabal don’t disappear, they pop up time and time again, always with a new angle, and as the regulatory authorities have no interest in doing their job and the police would rather do nothing that involves anything like hard work, we the bondholders will again be sacrificed on the Doyle alter of pure greed so that Levy, Doyle and Dean can keep on doing the same, time and time again. Levy is on the ropes and intense pressure should be put on the police to investigate yet another mini-bond scam! There should be a Parliamentary investigation on these mini bonds and how crooks like Levy, Doyle and Dean continue to get away with their activities. The Bond Issuers are unregulated and it’s not the first time, both sophisticated and unsophisticated investors have been tossed under a bus in what now appears to be yet another well-oiled mining scam by some dross from down-under.
Two Family Offices that bought heavily discounted Audley Bonds were Kiwoz and Maui Capital out of New Zealand. Walter Doyles lifelong friend, Mr. James Dean brokered the deal with both these Family Offices to not only provide the original debt-funding required by Doyle/NQ to purchase Hellyer, but to also buy into the Audley Bond at the ‘special’ discounted price. For this, Mr. James Dean was generously rewarded by being granted a disproportionate production royalty over Hellyer which netted him about $8 million a year.
Today, James Dean remains a very active member of the Doyle Cabal, and is the current Doyle ‘mouthpiece’ in London. No one admits to knowing where Doyle is and Scott Levy is hiding from us bond holders, only coming out to communicate with Doyle, Dean and the Administrator.
Many bond holders are wondering how the senior security was subordinated to 3rd place. Well, the method was cooked up by Scott Levy, Walter Doyle and James Dean. James Dean was the key person in this as he was tasked with, and again, amply rewarded, getting proxies from the two New Zealand funds, Kiwoz and Maui, to vote at a rigged meeting. No-one outside a very small group was made aware by Bedford Row Capital/Audley of the Bond holders meeting. This was deliberate so that the outcome of the vote of the few bond holders who were ‘invited’ could be easily controlled (rigged). In effect 25% of the bondholders needed to be represented at the meeting of which 75% needed to vote “YES” to the subordination. Mr. James Dean with his proxies in hand was THE key person in ensuring that the vote was passed. That’s how Levy, Doyle and Dean cooked the bond holders meeting with only insiders even being aware of the meeting.
Ordinary bond holders like us were never informed of this meeting, why??? because there was no intent to let the majority of bond holders know anything as it may have delayed USD55 million in debt financing that was being secured and it could have stopped the Doyle gravy train! So we ended up being screwed by Bedford Row/Scott Levy/James Dean and the Doyle Cabal!
Now we hear that these very same guys are working up a New Deal to lessen the ‘heat’ on both Levy and Doyle. Begbies have no interest in investigating criminal intent and like all Administrators all they want is money money money with total disregard for any of the creditors.
You need to be aware that not all bond holders bought in at the same price. Up to 40cents out of every dollar was either paid in commissions to the middle men or bonds were sold at a steep discount, but only to Levy-Doyle insiders. Given the quality of the AAA ranked security underpinning the Bonds, everyone believed that they were in on a secure deal so they bought into it. In London, the middle men were mainly East-enders cold-selling mostly to unsophisticated investors.
The mini bond scam was a well-thought out operation that was allowed to run for as long as both hard cash could be taken from the company as well as circular commissions that came back to the Doyle gang. Whenever there wasn’t enough money to pay the Bond interest, up stepped Scott Levy/Bedford Row Capital with yet another “NQ bond” and at the end of the day, Bedford Row had issued three bonds to perpetuate the scam, Audley Bond, Invenio and CP Funding, essentially creating a Ponzi scheme. Doyle, resigned when he realized that he couldn’t benefit any further from the NQ situation.