A Call to Arms

We published last month a report from KPMG, who were drafted in to examine financial irregularities at Tom Winnifrith's company Rivington Street Holdings plc and the T1ps Fund it managed.

We have independently verified that the document we reproduced is genuine.

The report suggests that Winnifrith might have misled investors.

Another blogger on the subject of Winnifrith

"It is truly astonishing to have consistently failed at every opportunity, we believe it is unparalleled in the UK and welcome challenges from people who may know someone with a worse record. Yes there are individual cases at single companies but not consistently from one company to the next without even one success. Is Tom Winnifrith the biggest loser ever?"
https://sheriffsofgurus.wordpress.com/2014/09/09/is-tom-winnifrith-the-biggest-loser-ever/

Some points for consideration about Tom Winnifrith

1. Winnifrith managed a regulated small cap fund as well as operating a PR business, stock brokerage and tip sheets

2. His fund management performance was bad

3. The authorities, it is widely known, were already concerned about the conflicts of interest between his businesses

The KPMG report on Winnifrith and Rivington Street Holdings

(We have consulted our own sources and are satisfied that this document is authentic)

Introduction and executive summary

Background

Until October 2010, T1ps Investment Management Limited managed the Tips Small Companies EIS Fund (“the EIS Fund”). In March 2012 an investor in the EIS Fund complained to the UK Financial Ombudsman Service in respect of T1ps Investment Management Limited for failing to deliver a necessary EIS certificate that was essential to claim the eligible tax benefits in relation to his investment in the Fund. Subsequently, in October 2010 the business and clients of T1ps Investment Management Limited were novated to T1ps Investment Management (IOM) Limited. Satisfactory responses have not been forthcoming to resolve the complaint of the investor, nor the enquiries of the regulators; the Financial Supervision Commission in the Isle of Man and the Financial Services Authority in the United Kingdom.

Tom's tips may have been tom-tit, but that never slowed him down

Tom Winnifrith has had a number of incarnations. His first was as a financial journalist on Investors’ Chronicle and then the Evening Standard, which lead to him becoming a professional tipster.

His record as a tipster, however, is not something he can be proud of.

Dan and Tom: the story of the armed robber and the "sheriff"

Daniel ‘Brokermandan’ Levi’s exposure as a former armed robber who spent 16 years in maximum security prisons, raises inevitable and pressing doubts about his business associates - primarily the apparent ringleaders of their short-selling game, self-proclaimed "Sheriff of AIM" Tom Winnifrith and infamous short-seller Simon Cawkwell.

The Times on the money yet again with startling expose of Winnifrith's long-time associate BrokermanDaniel

This extraordinary story contains information which appears to contradict our own investigation (see above tab) of the background of  'Daniel Levi'. One explanation is that our investigators simply got it wrong when they found that his real name is James Moloney. The alternative is that, in his attempts to hide his background, he has over the years changed his name more than once. 

The armed robber who rode into the Wild West

The Times explains how short sellers abuse markets

The Times describes how the Financial Conduct Authority is starting to intervene to prevent share values and the companies behind them being destroyed by market manipulation for short term profit.

Markets are caught short by traders’ wrong information

Alex Ralph

July 13 2015

Traders who deal in shares they do not own are running the risk of creating false markets at a time when indices are already unusually volatile.

Short-sellers are issuing incorrect information about their holdings to the City regulator and those positions are making their way into rival dealers’ trading terminals unchecked.

IoM regulator asked for formal investigation into T1ps investment

This letter was sent to Denham Eke and David Gibson, then non-executive directors of Rivington Street Holdings, from Suzanne Collins, in her capacity (at that time) as a regulator at the Isle of Man Insurance and Pensions Authority.

Pathway One Plc

Background

On 19March 2012 I was emailed a copy of a complaint received at the T1ps Investment Management Limited (‘TIM UK’) office from the Financial Ombudsman Service (‘FOS’).  This complaint was on behalf of Mr R Forster, an investor in the T1ps Smaller Companies EIS Fund.

The basis of his complaint was that he had requested an EIS 3 tax certificate for one investment – Commercial Tyre Solutions/Pathway One – which had been outstanding since October 2010.

Rivington Street's Response to the Mauleverer/McInerney Letter

Rivington Street Holdings PLC

4th Floor, 39 Athol Street, Douglas, Isle of Man, IM1 1LA

Telephone: +44 (0) 1624 676 848 Fax: +44 (0) 1624 676 838

By Email
Re: Request for Information

Dear Mr Mauleverer,

Many thanks for your letter of 26th July with regard to your investments in, and relationship with, various companies and funds associated with Tom Winnifrith and Rivington Street Holdings PLC (“RSH”).

Firstly, let me say that I have recently stepped into the role of CEO of RSH, and have only a very limited experience of the past events here at RSH.

The Alarm Bells Ringing Loudly Back in 2012

A letter from Bruce Mauleverer and Michael McInerney, both clients of Rivington Street Holdings and Tom Winnifrith

Mr Mark Robertson, CEO

Rivington Street Holdings Plc

Third Floor

3 London Wall Buildings

London EC2 1Y

26 July 2012

Dear Mr Robertson,                                                                                        By Email

Request for Information

Introduction

This letter is written as a formal request for the disclosure of information about the many events leading up to the sale by Rivington Street Holdings Plc (RSH) of 50.1% of the share capital in Rivington Street Corporate Finance Plc (RSCF) – in a recent  management buy-out. This letter is written on behalf of Michael McInerney and myself, both of us writing in our capacity as shareholders in RSH.

The Mysterious Case of Quindell

Following the announcement (in March 2015) that Quindell plc was selling its professional services division to Slater & Gordon for £637m, the trolls who had claimed Quindell was worth zero were left scrabbling wildly to restore credibility. “We are puzzled…but stranger things have happened,” said one. “S&G is committing corporate hari kiri,” said another.