Goodbye to the Crooks at BDO

Posted on November 8, 2012

Apologies that we have been off-air for a while as a consequences of
the storms here in the USA.

We confirm that on October 10, 2012 Geoff Bouchier of Duff & Phelps
and Robert Palmer of Gallaghers became the administrators of Tiuta
International Limited. This was a victory for investors who voted out
two individuals from BDO as administrators. Investors now have a
substantial body of evidence that BDO knew that Tiuta plc was
insolvent in January 2011 and BDO knew that there was widespread fraud
and false accounting. In particular, BDO was told by George Patellis
about the false accounting and criminal matters and had been given
specific evidence. This evidence is likely to be relied upon in
proceedings against BDO.

But for BDO’s complicity in a cover up, Tiuta plc and the Series 1
Fund would have been ceased to trade. New investors would not have
invested in the Series 1 fund. By that time, it had become a “Ponzi”
scheme. Existing investors could have been spared further losses
arising from highly suspicious lending decisions made by Tiuta plc
after that date. We have reason to believe that fraudulent loans were
made after BDO knew of fraud and false accounting. BDO said that it
would defend its record at the general meeting with investors on
September 12, 2012. In fact, BDO failed to justify its failure to inform
the FSA or the police.

Now that President Obama has been re-elected and the storms have
almost passed, we will be turning our attention to making
representations to extradite the crooks at BDO to face justice in an
American Court. They “screwed” investors just because they wanted to
make money out the winding up of Tiuta plc. BDO, this is going to cost
you more than a few dollars.

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