AIM FRAUDS - extracted from Paul Scott comments on Stockopedia31 Jan 2022 11:42
There were dozens of frauds on AIM, particularly from Chinese companies which listed on AIM a few years ago, almost all of which turned out to be frauds - which we spotted here, and put out a blanket avoid opinion on all Chinese AIM stocks, which turned out to be very sensible.
Also we picked up on Globo and Quindell, both of those frauds were blindingly obvious from the balance sheets, and dripping with other red flags. Gullible investors just chose to ignore the warnings, so tough luck if they lost money - hopefully they learned from the experience, and I have zero sympathy for people who shoot the messengers (like me) who explained all the detail about why these were obvious frauds, for a long time before they blew up. I don’t like his personal style, but Tom Winnifrith has done excellent work on many frauds - most of them very obvious things to avoid though, that we wouldn’t even bother to mention at all here because they're so bad - e.g. zero revenues jam tomorrow rubbish.