Senior Reporter at Global Trade Review @gtreview Cover trade and commodity finance - especially fraud, money laundering, sanctions DM for Telegram/Signal
London, England
Joined December 2010
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Exclusive, just published: QBE Malaysia faces winding-up order over US$9mn disputed claim
Follows a default judgement against QBE after failing to attend court
QBE says that was an administrative error and is seeking to set aside the order
Story here:
gtreview.com/news/asia/exclu…
John Basquill retweeted
Singapore’s High Court has this year scuppered the plans of both Standard Chartered and the Overseas Chinese Banking Corporation to quickly recoup trade finance losses arising from the Hin Leong fraud scandal.
ow.ly/5kma50LsS1X
Just published:
Westford Trade Services is suing Dubai Insurance Co over losses involving collapsed commodities trader Phoenix
The insurer argues there is no evidence the parties involved ever had title to the goods, which Westford denies
Full story: gtreview.com/news/mena/westf…
John Basquill retweeted
I commented on #NordStream leaks to @JohnBasquill last week
“The question is how high the price will have to rise before Europe recognises that #gas is fundamentally unreliable, & needs to be phased out altogether rather than replaced with more imports.”
gtreview.com/news/global/eur…
John Basquill retweeted
King & King’s reasoning for resigning as auditor for a number of Liberty Steel businesses.
John Basquill retweeted
Citibank has been granted permission to pursue a winding-up order against three GFG Alliance companies, including trading arm Liberty Commodities, after a UK judge ruled that pandemic-related insolvency protection measures do not apply.
Story here: gtreview.com/news/europe/cit…
Barclays AGM is descending into chaos over the bank's approach to climate change (see thread)
For context, between 2019 and 2021, Barclays lent more than $16bn to coal companies: gtreview.com/news/sustainabi…
...and billions more to other fossil fuels: gtreview.com/news/sustainabi…
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John Basquill retweeted
BREAKING:
@IEA
just published its 10 point plan to reduce the EU's reliance on Russian gas.
iea.org/reports/a-10-point-p…
John Basquill retweeted
In March, the @IMFnews board will meet to revisit its views on capital flows and trade policy, providing a crucial opportunity to shore up financial stability.
@kevinpgallagher + @Thrasher_Rachel explain, in @OMFIF: omfif.org/2022/02/imf-must-r…
Another development - Triterras’ has again failed in its attempts to avoid being delisted by Nasdaq
Its appeal against delisting was denied by Nasdaq’s hearings panel yesterday, though $TRIT says it’s now appealing the panel’s decision
A significant development in the Triterras saga
According to a regulatory filing, Triterras' auditor raised concerns over the "validity of certain sales transactions and thereon the existence and valuation of trade receivables"
Our story here:
gtreview.com/news/fintech/tr…
Another great scoop from the FT on the Greensill/CBILS scandal
If Zahawi is telling the truth - that he simply referred Gupta to BEIS officials - why did both Gupta & David Cameron personally thank him for his help? And why was he communicating with Gupta on his personal phone?
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A significant development in the Triterras saga
According to a regulatory filing, Triterras' auditor raised concerns over the "validity of certain sales transactions and thereon the existence and valuation of trade receivables"
Our story here:
gtreview.com/news/fintech/tr…
Triterras announced tonight that its auditor, Nexia TS, has resigned
Decision taken after Triterras lawyers sent the firm letters of demand over missed deadlines (background here: gtreview.com/news/fintech/tr…)
WWC PC appointed as new auditors ahead of appeal hearing on Jan 20
Triterras announced tonight that its auditor, Nexia TS, has resigned
Decision taken after Triterras lawyers sent the firm letters of demand over missed deadlines (background here: gtreview.com/news/fintech/tr…)
WWC PC appointed as new auditors ahead of appeal hearing on Jan 20
An update on this - Nasdaq has informed Triterras it will suspend trading from Dec 21 and the company will be de-listed
However, Triterras has submitted a request for an appeal hearing and an extension of that Dec 21 cut off. Nasdaq due to respond by early Jan
$TRIT
Not much readily available info about WWC PC. Site doesn't give much away - only case under 'success stories' is the US listing of a Chinese chestnut company in 2007
There are some PCAOB inspection reports from 2017 and 2019 though: rasr.pcaobus.org/Firms/FirmS…
Speaking of Moorwand, and its previous chief executive Robert Courtneidge...
Here is a 2019 investigation by @jatkinz into claims Moorwand processed payments linked to online trading scams: clippingsme-assets-1.s3.amaz…
1/ THREAD: Fintechs are booming in the U.K., with more than 200 electronic money institutions licensed here.
But there's a shady side to London's money hub, including executives and shareholders tied to alleged financial wrongdoing.
Read more ⬇️
bloom.bg/3HpHWZk
There has not been a significant increase in the number of suspicious activity reports related to wildlife trafficking filed by US banks, despite greater attention to the subject from financial crime authorities
Details here: fincen.gov/news/news-release…
For background, G7 nations are paying closer attention to wildlife trafficking - it has shifted from a conservation issue to an organised crime issue, generating as much as $23 billion a year for criminal groups
More info & case studies here (from June): gtreview.com/news/global/wil…
