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Share Name Share Symbol Market Type Share ISIN Share Description
Octagonal Plc LSE:OCT London Ordinary Share GB00BWWCHQ23 ORD 0.05P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.0% 1.00 - 0.00 01:00:00
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Electronic & Electrical Equipment 5.8 0.6 0.1 16.7 6

Octagonal Share Discussion Threads

Showing 6926 to 6945 of 7100 messages
Chat Pages: 284  283  282  281  280  279  278  277  276  275  274  273  Older
DateSubjectAuthorDiscuss
27/12/2020
18:04
SEC Charges UK Financial Firm with Acting as Unregistered Broker-Dealer in Clearing Billions of Dollars in U.S. Securities TransactionsLitigation Release No. 24996 / December 23, 2020Securities and Exchange Commission v. Global Investment Strategy UK Ltd. and John William Gunn, No. 1:20-cv-10838 (S.D.N.Y. filed December 22, 2020)The Securities and Exchange Commission today charged Global Investment Strategy UK Ltd. (GIS), a London, UK-based financial services firm, for clearing and settling billions of dollars of U.S. securities transactions without registering as a broker-dealer in violation of the federal securities laws. The SEC also charged John William Gunn, its founder and principal, with aiding and abetting those violations.According to the complaint, from at least 2015 through 2019, GIS-a financial firm located in the United Kingdom that has never been registered as a broker or dealer in the United States-provided clearance and settlement services to hundreds of U.S. customers for trades primarily between U.S. buyers and sellers and involving billions of dollars' worth of securities. The complaint alleges that GIS was acting as an unregistered broker by providing the clearance and settlement services for its U.S. customers, receiving transaction-based compensation for the trades, extending margin to its customers, holding customer funds and securities, and soliciting customers for its brokerage services. As alleged, by failing to register with the SEC, GIS avoided having to comply with the financial responsibility rules that apply to firms that provide clearance and settlement services to U.S. customers, including rules limiting the amount a customer can initially borrow from a broker-dealer to purchase an equity security. As set forth in the complaint, by clearing through GIS, a customer could purchase securities valued at 20 or 30 times the equity in the account. U.S. customers allegedly chose to clear their trades through GIS because of the increased leverage available, even though GIS purportedly charged higher per-trade fees than U.S. firms.The SEC's complaint, filed in the Southern District of New York, charges GIS with violating the broker-dealer registration provisions of Section 15(a) of the Securities Exchange Act of 1934 and Gunn with aiding and abetting GIS's violations, and seeks injunctive relief and civil penalties.The SEC's investigation, which is ongoing, is being conducted by James Burt, Peter Lamore, and Sheldon Pollock of the New York Regional Office, and supervised by Lara Shalov Mehraban, with assistance from Kathleen Dolan, Thomas McGowan, Joanne Rutkowski, Randall Roy, Sheila Swartz, and Shauna Sappington in the Division of Trading and Markets, Stephen Ng and Nicholas Brady in the Office of General Counsel, Marianne Olson and Sharmila Matugama in the Office of International Affairs, and Carina Chambarry and Michael Barnes in the Division of Economic and Risk Analysis. The litigation will be led by David Stoelting and James Burt.The staff would like to acknowledge the assistance of the Financial Conduct Authority of the UK.SEC Complaint
darrindusty
27/12/2020
18:00
Have a read https://www.sec.gov/litigation/litreleases/2020/lr24996.htm
darrindusty
26/12/2020
17:14
Found this Interesting on chat site looks like Nilesh is up to his neck in it! same old names like justin drummond Purple Lounge – The scandal that will not go away MAY 14TH, 2014 ARTICLE RELATED COMMENTS With an estimated GBP 650,000 still owed to players of the now collapsed online poker site Purple Lounge (see previous reports) the issue continues to escalate following recent actions by directors of parent and former public company Media Corporation – since delisted for not submitting accounts. Our readers will recall that former directors Jason Kingsley Drummond, Justin Piers Drummond, Nilesh Jagatia and Christopher Simon Gorman handed Media Corp and the crippled Purple Lounge asset to Philip Jackson, who claimed that he had placed the Purple Lounge company in Malta (which had allegedly held all player funds) in liquidation. It has since been alleged that this is not true, and the Maltese company continues to languish with neither funds, licence or activity. The Player Claim Group pursuing Media Corp for payment of the Purple Lounge monies they had entrusted to the care of management says that initially Jackson appeared amenable to some sort of arrangement that would satisfy the aggrieved parties, but after one meeting a London lawyer named John Botros was called in and rejected all player claims to be creditors of Media Corp. It is reported that Jackson subsequently moved on to another gambling company, Boxhill, leaving Botros effectively running the ailing Media Corp. Although effectively broke, Media Corp reportedly does have some “assets”, including a GBP 11.5 million tax loss and two cases of litigation against London solicitor firms. Media Corp’s woes mounted when Her Majesty’s Revenue and Customs commenced winding down proceedings on a tax issue last month, and to save the company from liquidation Botros recently proposed a Company Voluntary Arrangement, the process to be managed by Antony Batty and Co LLP as nominee and proposer. Such arrangements are conditional on the support of 75 percent of creditors, and Botros allegedly accepted the Players Claim Group as bona fide creditors of Media Corp and asked them to support the CVA. In return, subject to conditions, Botros offered to pay the players 1 percent of their losses, increasing to 8 percent of losses if the company was allowed to continue operating and managed to secure funds from its pending litigation or tax losses. The players felt there was a better chance of getting their money – or at least part of it – if the company was allowed to go into liquidation, although they did not say as much to Botros. Liquidation would also facilitate a full and independent investigation into how Media Corp was run by former and present directors, the players believed. After two adjournments the issue went to court on May 8, but it seems that more creditors had appeared, diluting the players’ influence, and in any case the players were not allowed to vote for reasons that are not at present clear. The CVA proposal was narrowly voted in, leaving the players to seek legal relief on the issue, a process that is now underway. Dissatisfied players are questioning the surprise GBP 2 million in creditor claims that appeared in the proposals submitted by Botros mid-April prior to the CVA hearing; these are alleged to be considerably more than the late 2013 admissions by the company. The Player Claim Group is still encouraging players who lost money in the Purple Lounge debacle to come forward, because it believes the sums owed to players may be substantially larger than is presently thought. On Tuesday, the Player Claim Group also confirmed that it has laid a criminal complaint with the Serious Frauds Office regarding the actions of past directors and the manner in which the company stock was allegedly manipulated. The group’s legal counsel has assembled a detailed and comprehensive picture of the issue over the past eight years, supported by documentary and other evidence and details of former directors. A Players Claim Group spokesman said Tuesday: “We are awaiting a response from the SFO to let us know whether or not they are launching an investigation. “During the course of events The Players Claim Group and others have uncovered facts around Media Corporation, Purple Lounge and former directors….which are believed to indicate a much wider and deeper fraud. It could take a number of weeks before they decide whether or not to launch a formal and full investigation.”;
thordon
26/12/2020
12:34
Beaufort do not get me started on them. I could not sell a share online so I rang up and they refused to deal because I had not done security but nobody was answering the phones to do security then after a argument when I asked him to do the security he was up for meeting up for a fight. Hoodless Brennan conmen is all they were with a new fancy name.
dave4545
26/12/2020
12:13
Wonder if Chris Heminway is actually working for the FCA. Ha ha.
grahamwales
26/12/2020
12:10
GIS Have loaned money to Insp so you have to wonder if there were any dodgy dealings with the loan notes.
grahamwales
26/12/2020
08:51
https://www.willistowerswatson.com/en-GB/Insights/2018/12/what-can-be-learned-from-the-beaufort-securities-limited-collapseThis looks a lot like the Beaufort scandal. There were over 600 complaints about BF before the FCA acted and it looks like they only did that because of the SEC involvement. This will take years and millions to resolve. GIS will have to stop trading and all the cash will be drained away IMO. Sadly shareholders are likely to see nothing. Will all the other companies Gunn is involved in be suspended too?
terminator101
25/12/2020
23:51
hTTps://youtu.be/nO9bX0BqNqk
xmas dread
25/12/2020
23:10
Assuming Fest's million + shareholding is genuine (he's been caught out exaggerating several times) how much money has he lost if this has gone/is going t*ts up ?
xmas dread
25/12/2020
16:48
dont forget Nilesh though...another one was justin drummond...what happened to him?
johncasey
25/12/2020
15:30
At 8 AM on Christmas Eve shares in Octagonal (OCT) were suspended on the AIM Casino. At 1.04 PM, with the market closed, and everybody switching off their screens came the bombshell. Assisted by the FCA the SEC has charged Octagonal's main subsidiary, Global Investment Strategy UK Ltd. (GIS), for clearing and settling billions of dollars of U.S. securities transactions without registering as a broker-dealer in violation of the federal securities laws. The SEC also charged John William Gunn, its founder and principal, with aiding and abetting those violations. Kerboom. You cannot say that I have not warned you for years that Gunn – who also runs uber dog Inspirit (INSP) – was a prize rotter.
investographer
25/12/2020
01:40
lenigas has been promoting OCT for years..yet he keeps saying that AIM is crooked..
johncasey
24/12/2020
23:35
John William Gunn IMO nothing more than a Modern Day Outlaw just as I assuaged after OCT RNS of 7.00am on 17th December I would also suggest that anyone who has any OCT stock can wave it goodbye.
29palms
24/12/2020
19:39
SEC Charges UK Financial Firm with Acting as Unregistered Broker-Dealer in Clearing Billions of Dollars in U.S. Securities Transactions Litigation Release No. 24996 / December 23, 2020 Securities and Exchange Commission v. Global Investment Strategy UK Ltd. and John William Gunn, No. 1:20-cv-10838 (S.D.N.Y. filed December 22, 2020) The Securities and Exchange Commission today charged Global Investment Strategy UK Ltd. (GIS), a London, UK-based financial services firm, for clearing and settling billions of dollars of U.S. securities transactions without registering as a broker-dealer in violation of the federal securities laws. The SEC also charged John William Gunn, its founder and principal, with aiding and abetting those violations. According to the complaint, from at least 2015 through 2019, GIS-a financial firm located in the United Kingdom that has never been registered as a broker or dealer in the United States-provided clearance and settlement services to hundreds of U.S. customers for trades primarily between U.S. buyers and sellers and involving billions of dollars' worth of securities. The complaint alleges that GIS was acting as an unregistered broker by providing the clearance and settlement services for its U.S. customers, receiving transaction-based compensation for the trades, extending margin to its customers, holding customer funds and securities, and soliciting customers for its brokerage services. As alleged, by failing to register with the SEC, GIS avoided having to comply with the financial responsibility rules that apply to firms that provide clearance and settlement services to U.S. customers, including rules limiting the amount a customer can initially borrow from a broker-dealer to purchase an equity security. As set forth in the complaint, by clearing through GIS, a customer could purchase securities valued at 20 or 30 times the equity in the account. U.S. customers allegedly chose to clear their trades through GIS because of the increased leverage available, even though GIS purportedly charged higher per-trade fees than U.S. firms. The SEC's complaint, filed in the Southern District of New York, charges GIS with violating the broker-dealer registration provisions of Section 15(a) of the Securities Exchange Act of 1934 and Gunn with aiding and abetting GIS's violations, and seeks injunctive relief and civil penalties. The SEC's investigation, which is ongoing, is being conducted by James Burt, Peter Lamore, and Sheldon Pollock of the New York Regional Office, and supervised by Lara Shalov Mehraban, with assistance from Kathleen Dolan, Thomas McGowan, Joanne Rutkowski, Randall Roy, Sheila Swartz, and Shauna Sappington in the Division of Trading and Markets, Stephen Ng and Nicholas Brady in the Office of General Counsel, Marianne Olson and Sharmila Matugama in the Office of International Affairs, and Carina Chambarry and Michael Barnes in the Division of Economic and Risk Analysis. The litigation will be led by David Stoelting and James Burt. The staff would like to acknowledge the assistance of the Financial Conduct Authority of the UK.
dave4545
24/12/2020
17:39
Just checked the Group accounts. £501,000 this year, £530,000 last year, £540,000 in 2018 and £294,000 in 2017. So, actually took out just over £2m
graham1ty
24/12/2020
17:35
Gunn took Directors Fees in GIS of £430,000 in each of last two years, £425,000 in 2016, £270 the year before. That is over £1.5m in the last four years. Money shareholders will never see again......
graham1ty
24/12/2020
16:08
Merry Christmas Dean Haigh, convicted stalker... there is indeed NO money in it for me. Filtered
festario
24/12/2020
16:05
'Of course .. there ISN'T any money in it for YOU'
xmas dread
24/12/2020
15:51
They only take a tiny % settlement charge.
topvest
24/12/2020
15:46
Looks like an open and shut case! With much of the money in the pocket of Gunn! 250000 transactions $50B and peanuts for profit, even charging higher rates than normal? What is the matter with people? This explains why the massive suspicion in the market for the last years and why Gunn could only recruit idiot directors like Binnie, while he continues his search for the last two years for more directors. That they have taken a very minuscule % settlement charge is also bullshi!t According to the Group accounts, Gunn took directors wages of £501,000 this year, £530,000 last year, £540,000 in 2018 and £294,000 in 2017. So, actually took out just over £2m over the years. We can see some of the money now! Bloody daylight robber, but unlikely that we will see Gunn again or any of the dividend!
a1samu
Chat Pages: 284  283  282  281  280  279  278  277  276  275  274  273  Older
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