I accuse that well known financial Journalist Tom Winnifrith, shareProphets of wholesale fraud, blackmail, tax evasion and market abuse the hypocrisy charge being incidental but never the less indicative of the deceits and charges Winnifrith now has to answer in full.
The list of charges are endless the evidence is compelling.
This is a man who has ‘Self-Styled’ himself as the ‘Sheriff of Aim’ a man that is up to his neck in market abuse, fraud and ‘dodgy’ deals par excellence. Using the cover of ‘financial journalism’ for personal financial gain. The sheer bloody hypocrisy is jaw-dropping. He was informed yesterday that this was coming. As per form Winnifrith has been running scared, emailing and contacting my close city friends attempting to put pressure on me not to publish. You were told and warned many times by myself that you keep attacking me and my friends and I will unleash the dogs of war. The truth of what every retail investor reads here is horrific. This is a 14 month investigation. What is written here is just the tip of a large corrupt financial scandal. There’s much more to come. Particularly rumours of a USA London listed Company seeking to bring racketeering charges in America.
Rivington St Holdings
Winnifrith, as most already know, ran the ill-fated Rivington St Holdings, a company that went bust losing thousands of share-holders millions of pounds. He was ‘booted’ by Jim Mellon for major compliance failures. Documents seen by this website paint a sorry tale on the back of a report from a KPMG investigation into the transference of £100,000 of share-holder money that was rinsed out of the company to Tyre Solutions Ltd, just before the administrators came knocking. Tyre Solutions very quickly went bust. The report found that: There were three potential areas for a fraudulent transaction. – that the initial investment proposal was a fraud on the EIS fund – that the proceed of the investment were fraudulently expended by Commercial Tyre Solutions Limited or its officers or employees – that residual assets were fraudulently disposed of before the appointment of the administrators”. Winnifriths recollection is rather sketchy….
TW had also been actively buying stock in Athol Gold to ‘hold up’ the share-price. He was the AG Investment Advisor! This is absolutely incredible! The document has 18, yes 18 major compliance breaches. On compliance Note/breach 13 (Unlucky for Tom) ; Athol Gold c30% held on an aggregated basis —TW inv advisor to AG. Funds keep buying AG to hold up price. Tips 1M get perf fee from AG and from funds. The full list of Compliance breach’s can be read at the bottom of this Blog.
It gets worse, a Suspicious Activity Report (SAR) filed by the compliance officer, Michelle Lees, on yet another dodgy deal orchestrated by TW, (see document at bottom of blog) with a chap called Mr Zamavi Sithole, who was on the then ‘FSA radar’, accuses him of acting ‘Ultra Vires’ which basically means illegally. Among the many allegations levelled, Winnifrith had been trying to force accelerated opening of JPJ share trading accounts for Mr Sithole without ‘appropriate KYC,’ know your client. It further states that ‘Compliance’ was warning that any association with this client (Sithole) would be ‘very damaging’. The fact that RSCP stated the FSA had given a ‘steer’ in favour of the deal was admitted by the compliance officer to be nothing short of a lie. Complyport summed it up thus; “The potential person (Sithole) is on the FSA radar and any sale to this individual would, without putting too much colour, be regarded as laughable in the extreme unless you want to commit regulatory suicide”.
The problem was, Sithole was also a crook and someone at RSH found out when he tried to take out a massive life insurance policy on the back of the proposed deal with RSH.
However on the formation of shareProphets he paid £25,000 to TW for a major stake in SP. Winnifrith failed to declare the full cash transaction with not only UK tax authorities but with Company’s House. He also kept ‘Pottsy’s involvement with SP ‘quiet’. He pocketed the cash. That is fraud and tax evasion. It gets worse, much worse… Most of the companies that Pottsy invests in are given ‘glowing’ ramps by SP.
Companies such as Optibiotix, dotDigital, Ascent Resources, BlueBird Merchant Ventures, Frontier Resources (Now Called Concepta) the list goes on and on and on.. And guess what? At no time did shareProphets declare that their business partner and MAJOR share-holder in shareProphets was holding stock in these companies, not only holding but trading and making millions of pounds! That is market abuse on a gargantuan scale! shareProphets and Winnifrth were ramping their business partner and MAJOR shareholders stock! A man censured and fined for market abuse. So come on Tom speak up explain how many stocks and shares you’ve ramped that Pottsy held and lets have a look at your share-trading account/s. I’m sure YOU never traded on any of the information or companies that Pottsy was in…. Just how many brown envelopes were there?
And just where was Mr Christopher Atur Potts on Wednesday of this week? Why he was (with some difficulty to great guffaws of laughter ) cracking open bottles of champagne with Thomas Z Winnifrith at the UK Investor Cabaret night (Pre Show). You’ll all recall just how much TW hates and castigates the corporate coke sniffing, champagne ‘PR bimbos!’ and brokers. Well that party was full of them! The Hypocrisy of this fooker knows no bounds…. Retail investors are being rinsed and laughed at by these corporate hyenas and the biggest joke of all is that everyone at that party, whether it be CEO’s, Brokers Public/Investor Relations, know full well that this has been going on for years. The joke here is that TW will be hosting a seminar tomorrow at that show on Fraud. Yes on April fools day. You couldn’t make it up could you?
The ‘Lenigas’ payments
David Lenigas (DL) needs no introduction. He is a corporate shyster, most people with half a brain know it. 2/3 years ago DL confided in me that he had paid upwards of £70,000 to shareProphets/UK Investor show/s. At the time SP were actively backing this man and the stable of AIM listed companies he ran, they were promoting/ramping his stock. Some where along the line there was a falling out. Winnifrith stopped receiving the ‘Lenigas shilling’. He then stopped singing the ‘Lenigas tune’.
Dozens if not hundreds of Articles/Blogs started to appear on SP ripping to pieces DL and all his companies, twitter was awash with TW accusations. He was labelled among many things a ‘market abuser, a crook.’ (My favourite ) ‘The fat Aussie Share Ramper, Horse Shit Hill, a Conman, the epithets and abuse carried on and on and on. Videos and seminars were used to attack DL. Eventually a truce was called. The upshot of that truce/agreement is that Winnifrith is once again receiving the ‘Lenigas Shilling’ and it is no coincidence that all Articles/Blogs attacking DL companies have ceased on shareProphets. Indeed David Lenigas is being promoted at the UK Investor Show. His picture is all over it. So here we have Winnifrith taking payments from a man who he has labelled a market abuser and a crook. Since Winnifrith started receiving Lenigas cash, not one single article has appeared on shareProphets attacking those companies. That my friends is blackmail.
There are many CEO’s and PR companies who pay to go to the UK Investor Show. Some pay in cash some pay in stock. The majority who pay in stock were never declared by TW. It was only recently over the last year or so that TW started intimating some of the company stock held. This started about the time I started corresponding/talking to him about such matters… What a coincidence! They pay for one reason and one reason only. They do not want their micro-cap companies attacked. It is racketeering. If this was in the USA Tom Winnifrith would be locked up. That is a fact. CEO’s and brokers should hang their heads in shame appearing at this show and paying the ‘Greenmail’. Winnifrith is making a fortune…. How many companies have paid you in stock since the inception of this show?
The Eden Moore Trust
So just where does all the cash generated go. You’ll all recall that TW has stated many times that he doesn’t receive a single penny or benefit from any of it!!! Yes he works for free….. It’s a big fat whopping lie.
Winnifrith set up a Gibraltarian trust fund named The Eden Moore Trust. The beneficiaries of that trust are his immediate family. One is his wife! His cut of the cash and share dealing goes directly into this Trust, circumventing UK Tax laws. The executor of that fund is, wait for it wait for it… Darren Attwater. Tom Winnifriths gopher his business partner. Darren authorises ALL the payments back to the UK, who instructs Darren to make payments? Would you ‘Adam & Eve it’ Tom Winnifrith! Presumably some, if not most of it goes to TW’s wife. You know the woman he lives with. But he doesn’t receive any financial benefit from it.. Honestly guv… Tax avoidance on a grand scale. It is sheer crookery designed to confuse and obfuscate. An orchestrated pretence that Winnifrith who works 60 hours a week doesn’t receive a single penny for his labours… Who do you think you are kidding Mr Winnifrith?
THE FCA & AIM Regulation
So just where the fuck is The FCA & AIM Regulation in all of this? This man is involved in ‘factory farm’ criminality, market abuse, fraud, stock manipulation, racketeering, tax evasion and breach’s of virtually every financial regulation. There’s no doubt that there’s been complaints, there’s no doubt that he’s on their radar. The modus Operandi is well known. Winnifrith corrupts CEO’s, Brokers and such. He uses inside information to promote himself and his cash generating operations and to destroy companies that don’t pay the ‘Greenmail.’ If I as one lone researcher can garner such damning information then where and what are the regulators doing? Does it take a reformed Bank Robber to uncover this, are my skills so special? I think not! Or is it quietly being monitored and investigated. I urge everyone who reads this article to cut and paste it and send it to The FCA and AIM Regulation team. Any investigation will result in Winnifrith going to jail. Of that I am whole heartedly convinced.
Indeed do!!! I had a telephone conversation with him on one such brokerage/nomad where he explicitly stated three (3) times that he was receiving inside information from them on a whole host of their clients. (He’d corrupted a nominated advisor) and if he was called into the High Court that he would deny every thing. He was prepared to commit perjury! A man who is prepared to commit Perjury in the Royal Courts of Justice is a crook. If he’d like to deny that conversation then please do. I have that conversation taped and forensically transcripted.
|Sent:||13 June 2011 09:15|
- Compliance “holiday/’ , no CMP done for 14 months in either jurisdiction, includes no ICAAP done for RSCF. If FSA came in for an inspection we’d be in serious trouble. Compliance just firefight and perform an operational role rather than compliance oversight
- Conflicts of interest — same names appear in funds, BG, RSCF, GE&CR, also hold same names as prop positions. No conflicts of interest register maintained.
- TW over dominant — overrides compliance (blacklist) on a regular basis, e.g. GE&CR writing a research note therefore name out on the blacklist. TW is sub editor and so signs off on all research notes before they are released. TW will get compliance approval to trade the stocks in the funds before research note published because “he hasn’t read the note”. This would never bear up to scrutiny
- Substantial shareholders — c12 AIM announcements required. Fundamental lack of understanding how DTR 5/
AIM rule 17 works — from fund manager to compliance. Reflects very badly on the organisation
- Fund management no segregation of duties
- Fund management no portfolio management system, no data provider (Bloomberg), no deal log therefore virtually impossible to do any historical analysis or meaningful CMP
- No deal log no automated trade file
- No due diligence over the administrator
- Appears to be a poor relationship with both the administrator and depositary
- For a several months no performance fee accrued (RSH MUST have an ops administrator who deals with NAV reviews, compliance with risk lilmits etc)
- Funds always running very close to 10% holdings limit and 40% which they have breached — RM policy states we ahve an internal soft limit of 7.5% and 37.5% (but we never use these)
- Funds hold large illiquid positions (c50% ) of portfolios in illiquid assets — all positions marked to mid, IAS 39 fair value accounting?
- Athol Gold c30% field on an aggregated basis —TW inv advisor to AG. Funds keep buying AG to hold up price. Tips 1M get perf fee from AG and from funds
- FSC returns incorrect — local finance staff very poor. Have no faith at all they can prepare any meaningful returns
- No signatory lists
- Intra co holdings/ related party transactions — these need properly analysing — need to be able to prove that the related party trades don’t hold uo the share price. Eg Athol gold TW IA paid perf fee in specie (convertible loan notes) converted to stock paid to TIPS 1M then sold to the gold fund
- RSH transactions — funds bought RSH stock the day after the interim trading announcement. These need to be flagged and checked against the market
- Athol Pahram Jane Grey removed from board because she was viewed as undermining the board in the meeting
(i.e didn’t agree with Amit Pau, who incidentally isn’t even on the board) replaced with 22 year old trainee Ross
Jones — who I really don’t see as independent very much under the influence of TW
|Reasons for Suspicion
RSH Compliance Officer (Michelle Lees) received an enquiry from Liverpool Victoria (LV) on 6th March 2012 regarding an application for life, critical illness and income protection. Due to the size of the benefit applied for they requested the applicant (Zamayi Sithole (ZS)) to provide additional information to support his application. Part of the information provided was a Share Purchase Agreement (SPA) between Rivington Street Media Limited (100% shareholder of TIPS Investment Management (TIM)) and Eissen Limited — regarding the sale of TIM to Eissen Limited this was dated 8th August 201 1. A second document produced was a Companies House form appointing Dru Edmonstone as a Director of TIM dated 12th October 201 1 (please note Dru Edmonstone was a Director of Rivington Street Corporate Finance (RSCF) until 31 st December 201 1 from 7th February 201 1, he had been a permanent employee previously from the period January 2009 to April 2010). LV wanted RSH to confirm the authenticity of the documents. I sent an e-mail to the Board of RSH on 6th March requesting that they review the documents and confirm whether or not they were genuine. I also noted in that e-mail that the Company/ individual were already known to the firm. On 29th September 201 1 Tom Winnifrith (TW) had notified the board of a potential purchaser of 10% 2 year RSH loan notes — this was Zamayi Sithole. According to TW the individual was known to Peter Greensmith (PG) and had approached TVV to buy the Ambrian stake in RSH and also to buy E600k of RSH loan notes. also noted that “A ML check is bein done on him but he is well
|known to Peter (Peter Greensmith) and Russell (Russell Darvill)”. It is not clear who carried out the ML check on him although Russell Darvill (RD) is the MLRO for the FSA entities.
JPJ Share.com also received account opening requests from two companies associated with Zamayi Sithole one of them being Eissen Limited. Tom Winnifrith had been trying to force accelerated opening of the accounts without appropriate KYC in place and JPJ referred the case to Compliance. Compliance then in conjunction with Complyport (RSH external compliance consultants) reviewed the evidence available and came to the conclusion that from a regulatory perspective any association with this client would be very damaging. It also transpired that 1M/ was negotiating selling TIM to ZS. TIN informed me that RSCF had been in contact with the FSA and that the FSA encouraged an application to be submitted. He further commented that following that steer from the FSA we should surely submit on the basis of “you said go ahead what do you think” . I forwarded onto Complyport in complete disbelief that the FSA would ever give such a steer and Complyport confirmed my opinion. The evidence gathered was clear and Complyport summed it up with their comment “The potential person is on the FSA radar and any sale to this individual would, without putting too much colour, be regarded as laughable in the extreme unless you want to commit regulatory suicide”. Then I then instructed TVV at 13:57pm on the 12th October that the transaction must not go ahead. I had a reply back from -m “have instructed thus” at 14:50pm on the same day.
Background checks were run on ZS on Accuity which came back with no matches.
I queried with Complyport whether to file a SAR and they advised that at this stage they didn’t think it was necessary.
confirmed on the evening of the 6th March after my e-mail to the board regarding the documents that “This did not go ahead. It was aborted. This was the gent from Zimbabwe”. I followed that up immediately as to whether an SPA had been signed as TW had not answered the question. After many repeated requests from myself and David Gibson (RSH Non Executive Director) TW finally responded to the Board of RSH on 12th March with the following response
“A SPA agreement was signed by RD on behalf of RSM. I was aware of this.. TIM (UK) is a dormant shell with permissions. It was valued then at E20,000 — hardly meaningful. As you know we now have marginally higher offers. There were conditions precedent on the sale they key one of which was change of control being granted by the FSA. Before any application was submitted there were subsequent discussions about Sitole buying a line of RSH in the market and subscribing to an issue of RSH loan notes. The board was aware of this & DE (Denham Eke) rightly flagged some concerns. However Sitole then failed a JPJShare ML check and on the advice of Complyport all discussions were then terminated. As such what stands below is correct.”
TW and RD have both acted ultra vires and attempted to sell an FSA regulated entity without the approval of the RSH Board. The Board should now proceed with an internal investigation to ascertain exactly what has taken place and the roles of the various individuals involved.
This SAR covers both IOM FSC/ FCU and FSA jurisdictions.
ß /. zo.12-