December has been a month of increasingly wild accusations about the business with threats of further evidence to substantiate Quindell wrong doing due in next few days.
These nuclear grenades that will finish Quindell once and for all never materialise and the nuclear evidence tends to be more of a Christmas cracker joke than the long-awaited exposure we are routinely promised.
Some of the Christmas cracker jokes released recently being:
1. Two employees might or might not have shared the same room in a hotel.
2. Quindell hospitality box at football match empty.
3. Quindell has run out of cash and will cease trading before Christmas.
I sit here trembling waiting for the next revelation, as over the weekend I have been advised yet again that another revelation is due in the next few days.
I was wondering if the Sheriff of Aim* rather than write another Christmas cracker joke would fess up and answer a few simple questions.
1. With Quindell allegedly ceasing to trade after Christmas. What is the point of issuing yet another accusation? By the time we have read the accusation the business will be in administration.
2. Why would Institutional investors loan out their shares to shorters? If the business was a fraud and went into liquidation these investors would receive nothing for their investment.
3. Why would any company overstate its profits and pay tens of million of pounds in Corporation tax? Only legitimate businesses pay Corporation Tax.
4. Forensic analysis of accounts and business has resulted in no professional organisation finding anything wrong. Why is the Sheriff so deluded he believes he knows more than these astute professionals.
5. Quindell are signing major contracts with companies that will have carried out due diligence on Quindell. Why would they do this if the business is a fraud?
6. Companies that generally turnout to be a fraud have longterm debt. Why hasn’t Quindell significant longterm debt?
7. Quindell has over 4000 employees and considerable overheads. How is it possible to pay staff and suppliers if the company doesn’t generate cash, doesn’t have debt and is a fraud?
8. Why has Quindell acquired so many businesses that operated successfully prior to the Quindell purchase but are now operating fraudulently?
Any reasonable person unless the above can be answered would conclude Quindell is a viable business and not a fraud.
Sheriff of Aim* is a self-appointed made up title.
Most people who wear a Father Christmas outfit over the next few days will not be deluded and know they are not the real Father Christmas.