Re: Compass debt company
There were lots of "We don't know" answers at the liquidator's meeting. How many clients are there: "We don't know". Where has all of the clients' £1M+ gone?: "We don't know" Did you read the accounts or just sign them? "I don't know". How was the money allocated to the clients' account?: "We don't know." Interestingly, at this point one of the more apologetic Directors seemed to blame Bob Solloway, who shook his head. Why do the 2013 and 2014 accounts have this large discrepancy?: "We don't know."
Even when they were asked when they knew the game was up Bob Solloway corrected the date given in the report.
You can imagine the response of the audience to this type of answer. But I tend to believe they had very little idea or knowledge of precisely what was going on. They weren't even sure of their 2015 dividend payments when they weren't operating in profit, but perhaps that would be incriminating. Perhaps they were hoping for a Ponzi type money feeding future, but in 2014 they were stopped from taking on any more new clients by the FCA, I believe. (Sorry, my report sheet was removed by somebody at the meeting.) I was taken on (in) in February 2014.
Wingco
There were lots of "We don't know" answers at the liquidator's meeting. How many clients are there: "We don't know". Where has all of the clients' £1M+ gone?: "We don't know" Did you read the accounts or just sign them? "I don't know". How was the money allocated to the clients' account?: "We don't know." Interestingly, at this point one of the more apologetic Directors seemed to blame Bob Solloway, who shook his head. Why do the 2013 and 2014 accounts have this large discrepancy?: "We don't know."
Even when they were asked when they knew the game was up Bob Solloway corrected the date given in the report.
You can imagine the response of the audience to this type of answer. But I tend to believe they had very little idea or knowledge of precisely what was going on. They weren't even sure of their 2015 dividend payments when they weren't operating in profit, but perhaps that would be incriminating. Perhaps they were hoping for a Ponzi type money feeding future, but in 2014 they were stopped from taking on any more new clients by the FCA, I believe. (Sorry, my report sheet was removed by somebody at the meeting.) I was taken on (in) in February 2014.
Wingco
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