The Financial Trolls: Do investors in new Mellon venture SalvaRX know of RSH row?

Monday 21 March 2016

Do investors in new Mellon venture SalvaRX know of RSH row?

A fascinating story in the Financial Times tells how Jim Mellon is bringing a cancer drug biotech company to the Alternative Investment Market this week Jim Mellon-backed biotech to join AIM. As it is operating in a market potentially worth billions of dollars, SalvaRX may well attract enthusiastic interest from investors.
However, the article does not mention anything about Rivington Street Holdings, Tom Winnifrith or the investigation into allegations of fraud. Nor, therefore, does it question whether Mellon knew about the allegations or indeed about the investigation by KPMG, which the RSH board - of which he was chairman - had commissioned at great expense (Mellon has tested credulity by indicating on Twitter that he knew nothing about it). Nor does it ask if Mellon responded to KPMG's findings by dismissing Winnifrith.
Are these not questions which potential investors in other Mellon ventures would want asking - not to mention answering?

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Simon Cawkwell is a well known and apparently successful bear trader, who has allegedly made £millions by going short on selected PLCs. As such, his opinions count and can affect share values.Over a number of years,Tom Winnifrith and Zak Mir have earned themselves reputations as share tipsters and again their opinions have had an affect on the value of shares in companies upon which they have commented. Mathew Earl was also  alleged to be behind public comment that had damaged share prices. Since around 2010, Ennismore Fund Managementhas consistently set a low target price for particular shares. Gotham City is a more recent player on the scene which has attacked several US companies as well as

· Spanish wireless internet company, Gowex, causing its CEO to admit accounting irregularities and the company to collapse.

· Quindell PLC which has successfully sued Gotham City for defamation.

There is concern that Gotham City is actually a front for one or more of the individuals cited here and/or EFM. Gotham did not attend Court or defend the action brought by Quindell and it is not clear whether they were even properly identified to the Court.

· In 2003, following a series of regulatory breaches, Simon Cawkwell was struck off by the Institute of Chartered Accountants for England and Wales

· In 2000, Anne Cawkwell, (Simon’s wife) was appointed Company Secretary of T1ps.com Ltd on the same day that Winnifrith became a director

· Anne Cawkwell, was Company Secretary of Active IT Ltd simultaneous to Winnifrith being a director, i.e. from 26 May 2006 to 19 May 2010

· Zak Mir and Anne Cawkwell were each shareholders in Winnifrith’s Rivington Street Holdings

· Winnifrith was ousted from Rivington Street Holdings (T1ps.com) following compliance concerns

· There is a strong possibility that Winnifrith has purchased the property at 49 Rivington Street via an Isle of Man company.

· There are extensive links between Cawkwell, Winnifrith, Mir and Miers

· There is a complex network of current and historic domain registrations and ownerships which ultimately identifies Burnbrae Media Ltd, of 4th Floor, 101 Finsbury Pavement, London EC2A 1RS, as the ultimate owner / management point.