Sefton – the 15 million question for the liar & crook Ellerton.
As each day goes by it gets worse and worse for fraudster Jim Ellerton, who has made at least $10 million from Sefton Resources as shareholders have lost 99.97% of their money. Mr Tom Winnifrith had another scorching revelation out today HERE.
Not to be outdone I today ask Ellerton and bully boy lawyers Pinsent Masons the 15 million question.
Exhibt B Of the Ellerton Deposition states that Ellerton issued on the 14 July 2004 to Mr Dillabaugh 15,000,000 million shares.
In 2008 Jim Ellerton swore under oath in his deposition/interrogatories for the now infamous Dillabaugh vs Ellerton trial that Sefton had issued 15 million shares in July 2004 to mild mannered dentist Gary Dillabaugh to offset a loan Gary made to Jimmyliar personally.
I have looked through Sefton share issues in 2004 and the only issue which might encompass this is on 20th August 2004, I quote:
“The Company announces that it has placed 375,000,000 new common shares at 0.35p per share to raise £1,312,500 before expenses.The proceeds from the placing will be used for working capital, and a portion thereof is to initiate a Coal Bed Methane project in Eastern Kansas. Mineral leases are currently being acquired and negotiations are ongoing to purchase some existing gas production.
Apart from noting that gas and methane production in east Kansas has so far totalled ….0, this issue opens up just three possibilities:
1. Ellerton issued no shares to Dillabaugh and so lied in court in Denver. That is perjury. So he is a liar and a crook.
2. Ellerton issued 15 million of the 375 million shares to Dillabaugh but he paid in full for them. In which case Ellerton lied in court in Denver and so committed perjury and is thus a liar and a crook.
3. Ellerton issued 360 million shares to genuine placees but Dillabaugh got 15 million but did not pay for them. In which case Ellerton told the truth in Denver but lied to his shareholders via an RNS and obtained a personal benefit by handing out Sefton shares. He was able to do that because he ran Sefton so that is a benefit gained from employment so he is a tax evader, as well as a fraudster and a liar. He is a liar and a crook.
There is no other possible explanation. Jim Ellerton is a liar and a crook. It defies belief that Sefton has still not fired him summarily. Once again I call on AIM to suspend these shares until a formal enquiry by an external and unrelated firm, i.e. not Pinsent Masons, is concluded.
Ellerton has weaved his personal debts into the share-holder fabric of Sefton Resources. Issuing shares as and when he sees fit to pay off his personal debts. That is Fraud.