Naming the Rose

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In a `follow the money` mood today. – The money: LBG …

Comment on Naming the Rose by twopanda.

In a `follow the money` mood today. – The money:

LBG debt: 18,000,962.29p [@ 6 May] + unpaid interest + a consideration + asset finance / + hedging letters. For ease of sums assuming 100k p/m interest – add up all the bits and pieces– and a number about 20m was about and guessing here, the real overall take-over figure at the end of the day. Of that assuming 18m is `assigned` as stable and carried forward as debt. On to money tracking;

In February the admins revealed there was a lack of visibility as to where monies where or had gone. In April within the first creditors report it was revealed that 20.3m had been placed with a client account “around that time” of the takeover. Trouble was the report didn`t reveal where the 20.3m went after that. We must then assume the lack of transparency / visibility as to where the money ended up has now attained almost official status. To be fair – the admins may have had good reasons for this reticence so we`ll give them the benefit of the doubt on that. Still – the 28 points on `events leading up to the administration` are a bit thin especially as 15 of those relate to the admins and most of the rest we knew.

It would appear that 20.3m didn`t pass directly through RFC from day one hence the immediate non-visibility. It would appear the 18m debt was paid off at some point. But the 18m debt was `assigned` we`re told. CW had a separate fund say of 25m available to draw down on – but expensive if he did – say 20-25%. That 20.3m start draw down was too expensive to sustain CL monies or not – plus no working capital from the outset. Looks like a definite train crash – seems the brake pads were removed just to make sure.

Old fashioned me was fretting how 20.3m can go walkabout for over 9 months without anyone even raising a quizzical/ dupeical eyebrow. Gross Spivery is suspected. The CO launches a criminal investigation. After 16 weeks now, how could the boys in blue be getting on? They`ll need justification, but have allegations – they just need the tools. Let’s looksee on the 20.3m bit;

Brass Tacks; Somebody put 20.3m in a bank account and it stayed there until somebody took it out and put it in another bank account. That is a minimum of two somebodies and two banks. If the someone who took it out was different from the end beneficiary – then 3 somebodies minimum are 3 banks were involved and at least 2 somebodies knew what was going on at the end and why so.

This is all dreadfully complicated isn`t it? But simple enough analysis to deduce CW was not alone.

If criminal charges have been lodged, investigators can access the start and end UK Bank details fairly easily enough. Even if there`s one or two offshore banks in any middle intervening transactions that shouldn`t be a problem as they just can join the dots between the end parties, identify the players, and build a matrix of responsibility. But to start – you need to follow the money visibility through the banks. Who authorised the 20.3m transfer should be easy peezy to find out. Where the money went – and when – should be easy to find out. Establish if any motives, formulate proof if required – job done. If there`s something there – fine. If not – in the clear. But are our boys in blue facing hurdles after 16 weeks to clear this all up?

True it may take time to access all the details and for sure they`ll face push back and artificial delays. I suspect like HMRC they`re observing one of the most atrocious acts of gross spiv-land in Scotland and are waiting to catch all the miscreants in a giant trawl. Patience is the watchword I`d venture. There`s an amazing amount we don`t actually know. TU investors who made this all possible are just one example. My view is there`s much more to come out on this. 😉

twopanda Also Commented

Naming the Rose
john clarke says: at 22:43
midcalderan says: at 22:46

Going to agree and respectfully not agree

CG was not convincing under interrogation. Interesting that hinterland exposed sparse and shallow [s/bites]

Yep I know it’s me, but the youngster pressed home consistent and true – watched carefully

Naming the Rose

Chris McL had a wee chequered history on this one – but sterling achievement today nonetheless

LBG needs to make a statement
SDM needs to make a statement
CW needs to explain what compensation he received – and from who

Holding on stv at the mo – they`ve surprised me by consistent detail accuracy and stepping up many times over the past few months when others hid. To me a real test now when the chips are down. I`ll watch the stv treatment with interest. If something goes awry here at this juncture then it’s on higher instruction – to me. I`m hoping many months good reference work not shipwrecked. We`ll see.

How jabber and the rest plays this going forward is a wee litmus test. Content that lot are exposed as a side show tho really. They should stick to nova nachos 2 day agonising tattoos.

CW stuff will be proved or disproved over time. D+P have work to do – afraid I`ll be hard to convince.

Naming the Rose
Would be interested – if – CW gave real news on LBG or SDM or GW or Betts or Ellis or GS or WS or CB or Merchant Turnaround or Jerome Pensions or the famous securities or Octopus or HMRC or guarantees to TU or how much money did he really have or have not or [fill in as required]

Just as examples you understand to be expected in a “wide ranging interview” 😉

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