Nmc Health Share Discussion Threads

[silverstone1] 17/4/2020 16:05

JUST SHORT IT WITH A CFD!😂

[karateboy] 17/4/2020 16:00

Remit of auditors is to confirm the account is true reflection of company finances. Simple. how much time they spend to independently check that is the issue. However I am not blaming the auditors...but I am also not expecting them to miss $5b debts which are not declared.

[silverstone1] 17/4/2020 15:57

MAKING MONEY FROM NMC IS LIKE TAKING CANDY FROM A BABY!😂

[damp seaweed] 17/4/2020 15:34

Auditors will find errors and omissions. They may get involved in judgement calls. But they are not employed or skilled in finding sophisticated fraud.
As I understand it these loans where ‘off book’ and possibly only a couple of the BOD knew what was going on. As to the shareholding of the BOD, that is not something that the auditors would look at or check. These deceptions are almost certainly outside the remit of the auditors.
However I’m not an accountant or auditor. So best of luck, but I wouldn’t go spending your own money expecting to recover your losses.

[silverstone1] 17/4/2020 15:29

ADR HAVE CRASHED TO $1.50 ON HEAVY VOLUME AND STILL WORTHLESS IN MY OPINION!😂

[dudishes] 17/4/2020 14:49

Moons ago, was Pres of a rugby club, did a stock take with a friend, found stock/v product about £1K down, plus found we owed Vat of £800, sacked Manager & Accountant, problem resolved.

Club is prospering under new management, 28yrs hence.

Mum keeps her purse tight, you should do also.

[dudishes] 17/4/2020 14:41

DS: Different issue here. How can you lose £6.6BN and not notice?

[damp seaweed] 17/4/2020 14:31

Auditors just count the beans. They are not policemen and are not hired to check for theft or sophisticated fraud.
They are more slippery than lawyers.
The only chances will come from the authorities in Dubai or the UK SFO. The latter is neither swift or has a particularly successful track record.
The FCA seem incapable of handling the big corporations/ issues. They seem to prefer the small stuff, like trying to monitor the small brokers and encourage them to learn to count without moving their lips.

[dudishes] 17/4/2020 10:55

karateboy,

Once bleating of "Warned you" etc, enough (Silverstone1 made your point, desist).

I'm guessing no point chasing the 6.6BN, if action was appropriate, or even viable, I would go for Ernst & Young, they approved the accounts!

Many make the mistake of targeting (and almost always losing), at chasing Mg't (all gone), go for the Accountants! More successful route for shareholders.

E & Y should be your target!

Good luck

[silverstone1] 16/4/2020 17:47

ADR HAVE CRASHED TO $1.90 ON HEAVY VOLUME AND STILL WORTHLESS IN MY OPINION!😂

[karateboy] 16/4/2020 16:02

If UAE wants to show itself as a business hub, they have to go hard on these people who committed these thefts on a daylight. Waiting for court to order asset freeze which runs into billions.

[ham74] 16/4/2020 15:46

Asset freeze also applies to 3 degrees of family members I read. Would that be possible under Uk law?

[silverstone1] 16/4/2020 14:10

QUESTION: WHAT DO YOU CALL THE NMC ACTION GROUP IN A FOREST?
ANSWER: A THICKET!😂

[silverstone1] 16/4/2020 13:13

KEEP DREAMING DIMWITS!😂

[karateboy] 16/4/2020 10:18

Important point in the criminal proceeding is that court was asked to freeze all assets belonging to these 6 people. That will be very big news if court agrees to it.

[sr2day] 16/4/2020 07:06

they never will...........they are all in it together.

[edmondj] 16/4/2020 06:56

One wonders how long it will take UK regulators to catch up!

[nael2020] 16/4/2020 05:52

hxxps://m.khaleejtimes.com/business/corporate/nmcs-br-shetty-5-others-face-fraud-forgery-charges

[karateboy] 15/4/2020 22:41

Let's filter dudish....another self declared important person.

[silverstone1] 15/4/2020 21:49

ADR CLOSED AT $5.45 AND STILL WORTHLESS IN MY OPINION!😂

[silverstone1] 15/4/2020 19:28

I'M A RETIRED STOCKBROKER AND ADR ARE NOW $5.75!😂

[damp seaweed] 15/4/2020 17:12

Back at the end of Nov 2019, before it all kicked off. NMC on the LSE was ~£2500 and the NMC ADR was ~$US32.24. Fx £/$US rate was ~1.29. That would give the NMC ADR GDP price at ~£25.00.
Rather amazingly the Whelk seller is probably correct.....on this occasion.
So the theoretically with a current NMC ADR of $US 7. The UK price would be ~560p.
Curious, but as per previous post, I wouldn’t get up any hopes that this has any relevance to the suspended (and probably worthless) NMC LSE quoted shares.