Now Mellon says he didn't read the fraud report he commissioned from KPMG

Another astonishing development in the Twitter campaign by mystery tweeter @Decmax1 and Jim Mellon, the self-styled Warren Buffett of the UK.

With his (her?) teeth firmly attached to Mellon’s trouser-leg, @Decmax1 asked again if there had been a fraud and cover-up at Rivington Street Holdings, where he was chairman. In response, Mellon has tweeted: “I know nothing about what you are talking. Perhaps you should ask KPMG” (see tweets, below).

KPMG was commissioned by Mellon’s board

to carry out an investigation into potential fraud at RSH. It produced its findings (see earlier post http://financialtrolls.blogspot.co.uk/2015/11/the-kpmg-report-on-winnifrith-and-t1ps.html#more) in May 2012 – half way through Mellon’s chairmanship.

How can he possibly not know about the report? Is it remotely believable that a small company’s board – one, moreover, where Mellon had a significantly hands-on presence – could commission and receive an expensive investigation into fraud from KPMG, and the chairman know nothing about it?

decmax‏@Decmax1

@jimmhk you did not read the (verified real) KPMG report you commissioned as Chairman of RSH in 2012? A copy here: http://www.financialtrolls.blogspot.ca/2015/11/the-kpmg-report-on-winnifrith-and-t1ps

8:10 PM - 8 Mar 2016

jimmellon‏@jimmhk

@Decmax1 I know nothing about what you are talking. Perhaps you should ask KPMG.

4:06 PM - 8 Mar 2016

decmax‏@Decmax1

SO, @jimmhk you have denied a part in fraud and cover up in the Co you chaired RSH - but you have NOT denied it happened and won't defend TW

12:07 PM - 7 Mar 2016

Just to remind you

@Decmax1 has been demanding to know:
- whether or not Tom Winnifrith was fired as CEO because of a fraud

- whether or not there was a fraud

- if so, whether or not Mellon knew about it.

The KPMG investigation found that:

“There are three potential areas for a fraudulent transaction.
- that the initial investment proposal was a fraud on the EIS fund
- that the proceed of the investment were fraudulently expended by Commercial Tyre Solutions Limited or its officers or employees
- that residual assets were fraudulently disposed of before the appointment of the administrators”.

KPMG could not say for sure if there had been a fraud but acknowledged that further investigation was required to resolve many unanswered questions. It also concluded that Winnifrith and fellow director Paul Rewrie were not telling the truth.