read the details11 Aug 2017 13:03
If its him, which it looks like it is, then it was outright fraud. not NOT paying a mortgage, this was creating fake agents and securing loans on fake info way in excess of property value and then using the difference as deposits on a new house etc etc, lots of people in property used to do this, but it is still fraud, just back then the banks never did any checks so if you never got caught, you could build and empire and pay it back before anyone noticed.
the biggest risk here remains two fold. 1) Very poor cashflow and some fancy accounting, but this can be normal for a tech stock. 2) if Mr Katz is a fraud still, what lurks under the surface with Telit. BUT, if your like me and thinks this has huge potential and that the fraud has nothing to do with telit, then I think the upside here is good even in the near term. Mr katz mentioned a huge tie up being announced 2nd OCT with one of the worlds largest mobile operators, he also mentioned delayed intel cat modules to be sorted in august, then you have tesla all model 3 cars, next year production targets are huge, you have the acquisitions, more static costs against increased revenues and so on. I would say the risk factor here is bang on 50/50, then is a 50% chance you will lose your shirt and the shorter are right, in which case 50p target or less, the upside according to RBS is 70% or so, I think if they have a good H" and deliver on all their targets towards the upper range, were back over 300. DYOR
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