Patisserie Share Discussion Threads

[augustusgloop] 23/6/2019 18:05

Konrad,

They could have done it for payment from the senior guys - the ones that made the money from the IPO and then got twice as many share options as they were entitled to.

Also they could be fired for NOT following instructions.

[phowdo] 23/6/2019 17:46

Hopefully a few of the auditing team have had their collars felt.
But lets face it, those arrested have had well over 6 months to concoct watertight alibis, make sure incriminating evidence was accidentally thrown out and any ill-gotten gains spent at the bookies...

[konradpuss] 23/6/2019 17:34

Augustus, then what was in it for the five guys who have just been arrested? I am sure these fellows did not have share options or big amounts of shares which would lead to a profit if the shares rose dramatically.

I know what you are driving at however, they must have done it for a reasons. Your logic is correct for the finance director or any other senior directors with shares/share options - not the fellows in the H.Q. finance department.

If none of these fellows made anything out of the fraud then why did they risk a prison term etc.? Loyalty to the F.D. I think not.

[diku] 23/6/2019 17:27

So was it all cook up the books to mis lead share holders into buying shares?...

[augustusgloop] 23/6/2019 16:58

There is no reason to believe that money was stolen.

They money was never made in the first place.
the fraud was the pretence that the shops were profitable - when they were not.

So, what did the 5 guys have to gain -- share options and profit in the IPO seem to be the only way that anybody made real money here.

[konradpuss] 23/6/2019 15:41

L.J. if involved and I really doubt it would have had 'buffers'.

It will be the senior people in the head office finance department. They all had to be in on it to stop it coming out earlier. This appears to be a multi year fraud so all the senior finance guys must have known.

There must have been many 'meetings in the pub' after hours to talk through how to keep all the balls in the air.

I wonder how it started and for what reason?

I will venture as I have done before here - a drug habit, a gambling habit or just keeping up with the Jones's.

[bbmsionlypostafter] 23/6/2019 15:17

Was LJ amongst the arrested?

[ntv] 23/6/2019 15:03

Getting interesting just when you think it has blown over but will the SFO ever get them stuffed in gaol? Somehow I doubt it
They will walk like all the others have including all those involved in big bank fraud

[pugugly] 23/6/2019 14:07

See BBC on the issue

[pugugly] 23/6/2019 09:52

Sunday Times today - 5 arrests made on Tuesday - Questioned and released by the SFO - Also some interesting letters in respect of LJ's column last week -

Looks like this will run and run - If no jail time for the active participants then ALL FAITH (if any) remaining in the accountancy profession, the regulatory bodies, or the SFO will be lost for ever and give CORBYN a winning platform to gain No10 by campaigning the he will "clean out the putrid swamp that is the City of London” Totally false - some 95% plus (imo) is more honest than most trade unions, but the whole City is brought into disrepute by the occasional exceptions such as Maxwell, London & Capital, Libor, Carillion, Quindell, BHS, Asset Co etc (some were fraud and some incompetence) but an appealing story all the same that will be bought by too many.

[phowdo] 19/6/2019 08:58

All playing out as predicted half a year ago...


phowdo - 22 Jan 2019 - 18:48:34 - 2689 of 3167
As said before, the CFO will be the patsy.
Any evidence incriminating anyone else will have been in the shredder months ago.

[sandy133] 19/6/2019 08:52

Muckraking is one thing.The key thing here is? Have a firm of liquidators been brought in who are not conflicted and can pursue GT been appointed.

[bbmsionlypostafter] 19/6/2019 08:20

Private Eye #1498

He just had to know what was going on & therefore has to be a scammer IMHO.

[pugugly] 17/6/2019 10:41

Picked up by the Daily Mail today - Incredible to believe that LJ was not aware of the problems - or did he never do store check?s - Retail is detail and detail seems proved to have been missed -

[onjohn] 17/6/2019 07:21

Luke Johnson perpetraterd a scam imho

[sikhthetech] 16/6/2019 22:04

“Things had been going wrong for a considerable time and as soon as we arrived the extent of the under-investment became increasingly apparent. There were ovens that had been broken for several months, and there was a leak in the bakery roof. Suppliers were often left unpaid, while new ones were sought. Overall, it was not a good culture,” Scaife said.



Things had been wrong for months.. I'd expect staff would have reported broken ovens to someone higher up...and I would expect such things in monthly reports...

Just a few months earlier, they announced they had opened 10 new store during the previous period, had several new initiatives, cakes and were planning new store openings and products...

[edmondj] 16/6/2019 20:59

When asked about Scaife’s claims, first made in an interview with the Sunday Telegraph, Johnson declined to comment further on the basis that a criminal investigation remains ongoing.

[spectoacc] 16/6/2019 20:51

As I thought at the time with the likes of that d*ckhead at HBOS - if the buck doesn't stop with you, where on earth does it stop?

That Telegraph article demonstrates just how wrong CAKE had gone under Johnson's stewardship.

[pugugly] 16/6/2019 16:21

LJ back writing for the ST today advising those thinking uf setting up on their own - a lot of pertinent facts about regulations etc BUT not a single word about the need to follow the cash and pay attention to detail -

[edmondj] 16/6/2019 11:58

Patisserie Valerie troubles laid bare: unpaid suppliers, broken ovens and butter removed from pastries - telegraph.co.uk

It was a light bulb moment. Matt Scaife was on a tour of Patisserie Valerie’s main bakery in Birmingham when the full extent of its problems hit him. Scaife, a partner at Causeway Capital, the ...

[konradpuss] 13/6/2019 20:53

topvest "I think Luke Johnson has suffered". Poor old Luke, all that suffering!

You mean he has lost a few million that he potentially got by fraud (not saying who carried out the fraud) and he lost his 'angel' investor halo. Oh and he was so busy with lawyers and accountants he had to pass on his Sunday Times piece for a while.

My violin is out.

[edmondj] 13/6/2019 20:29

Yes you generally have to wait until they appear on the negligible value list or administrators publish a note declaring as much; otherwise HMRC may dig in saying there's still a chance however small, of some recovery in value. Don't look to brokers for confirmation.