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Very late last night, and only after having to threaten to raise the matter with the CEO of the Public Sector Fraud Authority who spoke at the recent QuanConn event, the Directors of Quantexa finally complied with the law and filed overdue documents at Companies House. Having previously supplied me with a copy of the Share Register under strict terms of confidentiality save for disclosure to Kemi Badenoch, Secretary of State for the Department of Business and Trade, that "Confirmation Statement" document finally proves beyond all doubt that the Directors and members of Quantexa (including agencies and companies controlled by Kemi Badenoch) have been wilfully lying to investors, regulators, clients, the general public and Governments around the World. The facts are simple: Quantexa has not raised more than $100,000,000 that it states in its audited accounts and told (and continues to tell) the public that it had raised. It failed to file documents as required by law to deliber...

 Could this be why FRC chose FieldFisher to act because they could be relied upon as they are as guilty as KPMG, Deloitte's etc? https://find-and-update.company-information.service.gov.uk/company/OC318472/filing-history?page=1 Time for the SRA methinks - although a fat lot of good that will do. In the light of this month's filings perhaps HMRC will reopen all Fieldfisher's tax affairs - they would certainly appear to need to! Why would anyone in their right minds use such a professionally incompetent law firm? UPDATE: "THINGS CAN ONLY GET WORSE" Just try running the Companies House records of the entities named in Fieldfishers accounts (Note 10) and you will see falsity of many statements and further omissions. .

ICAEW admits that it is unfit to be a Recognised Supervisory Body.  In an email from Nigel Howell, Head of Regulatory who is clearly and demonstrably functionally illiterate, he states that KPMG have either made hundreds of false entries in the Register that ICAEW is required to maintain, or have falsiefed the records of Companies House, or both. Howell goes on to confirm that he and KPMG have conspired to fail to remove persons from that Register even though they resigned from KPMG more than a year ago and as they were told more than 3 months ago. KPMG are clearly admitting that either they have falsified both the records of Companies House or the ICAEW, and that the firm does not qualify to be Registered Auditors as set out in the definitions in  The Statutory Auditors and Third Country Auditors Regulations 2016 Eversheds stated to me many years ago that they and KPMG has been defrauding Insolvency Estates, (see another blog re SIP9 fees) and now KPMG say they have been def...

If only someone had checked that Quantexa had filed the required Allotment of Shares on time and not 6 months late... Why do we have a Department of Business and Trade in charge of Companies House whilst also being invested in Quantexa....... This now looks even more of a scam than originally thought. Five years later, Quantexa has still not filed the allotment return for its Series B shares and has been lying in every Confirmation Statement since then.. BUT.....  it has finally filed its accounts for y/e 31 March 2023 and for the first time confirmed that the Funding Round was not all new money being raised by the company but 22+% was nothing to do with the Series E but was an amount being paid to existing Institutional shareholders (4 of the Albion Capital llp VCTs) who wanted to sell existing shares (and seemingly HSBC) if the latest Albion Prospectus is to be believed. There is nothing wrong with shareholders selling shares but no-one should mislead the public and the Prime Min...

Will the British Business Bank supported Quantexa Ltd file its accounts for 2022 on the last possible day? It has already asked for, and been granted, a 3 month extension from 30 September 2023. ICAEW finally confirms it is investigating KPMG's criminal falsification of the Register of Statutory Auditors and pleads for more time despite being on notice for more than 6 weeks. Deloitte has filed 21 "correcting" notices at Companies House confirming that it doesn't even know the names or gender of its members. UPDATE: What a damning indictment of Rishi's great white hope for the UK and of HSBC Bank plc's CEO's competence. UPDATE 21 MARCH 2024 -what is going on?

15 December 2023 Email to ICAEW and other lawyers in the claims against ICAEW and/or its Members Dear all In the light of today's wholly expected Judgment in the Duke of Sussex case - including an award of Aggravated Damages as sought in my claim(s), I thought all of you might like to think about substituting " ICAEW " and others in the statement read out by David Sherborne of 5RB Chambers, not least in the light of stated confessions of two solicitors and a barrister that they openly lied to a High Court judge in the matter involving The Charity Commission, and a still serving Judge openly, and in a public forum, admitting to not only personal but systemic Judicial bias in favour of ICAEW's members licensed by it as Insolvency Practitioners, which was later confirmed in writing by another solicitor as being similarly stated by many other Judges of the High Court. So here goes: "…… .. unlawful and criminal activities were carried out at  ICAEW  on a habitual and ...

 BDO's website "people" page states that they have 479 Partners/Owners https://app.box.com/s/2ogp8yi4p821h1ytkaua3wzyc43z41vx The Register of Statutory Auditors states they have 450 "Owners" : i.e. stated to be members of the LLP https://app.box.com/s/wftojnpy4py5j4hzw1ndoni8l8trnhca (NB - deduct the 39 persons from the 489 records for those shown as not being owners) Companies House records state they have only 332 Members/Owners https://app.box.com/s/eyvtf3cehliqp2v44z36smo72g1v3xuh Simple arithmetic does not seem to be BDO's strong poiint.which might, in part, explain why the Directors of Quantexa chose to change auditors in 2018 and then re-appoint BDO ever since. [EDIT 14.11.23] Confirmation that BDO have declared 450 people as being members of the LLP  to ICAEW can be found by reference to ICEAW's "Your Guide to maintaining your firm's record" and links to the forms that quite clearly state that a "Principal is ..... a Member ...

Copy of Request to Rt Hon Kemi Badenoch MP, Secretary of State for Trade and Business https://app.box.com/shared/static/6lyvok378pr2c50svzn37xv15aailqxe.pdf (PASSWORD PROTECTION REMOVED 12 Nov 2023) Copy of complaint to ICAEW re BDO https://app.box.com/s/k79xg5tyzl37ekqwv9gxzyy20x7w443f (PASSWORD PROTECTION REMOVED 12 Nov 2023)  NB: In common with Deloitte llp (see https://duhloitte.blogspot.com/ ) and so many other ICAEW firms, BDO LLP have not bothered to update Companies House records for the appointment of Quantexa's statutory auditor as a member of the firm on 1st November 2022, but at least they notified ICAEW whose records state that Mr Pettifor is a member of the firm but not a member of ICAEW. Worth running the internal BDO document against the records of Companies House. https://www.bdo.co.uk/en-gb/news/2022/bdo-promotes-33-new-partners-across-the-firm 13.11.23 Update: One should probably pity poor Claire Hudson from this list who hasn't been declared to either...

  Lo and behold.. On 11th and 12th October one Agency of the Department of Business and Trade states that its records are being amended to reflect the decision of a second  Agency purportedly taken on 19th April that yet a third Agency is responsible for investigating for the now admitted (in writing) criminal conduct of the directors of Quantexa Ltd.  What is the point of the Companies Act 2006 and the about to be enacted Economic Crime and Corporate Transaparency Bill? Will the auditors now resign for signing off on false statements made in Quantexa's very late filed accounts? Their Code of Ethics requires them to. The still unanswered questions: 1. Why did "Quantexa" feel the need to lie about the failure of its Series D and Series E fund raising and never to tell the truth, even in its statutory accounts, that its PR spin was knowingly false? 2.  Is this a common practice across the entire UK FinTech and RegTech sector?  "Who watches the watchers" - apparent...

Once more, as with the never completed Series D, the directors of Quantexa are shown to be living in a mythical world of unicorns and once more deceiving the public, their clients and their investors. The records of Companies House show a filing made on 10 October 2023 stating that 109,036 Series E Preference shares were issued between 19 April and 16 June at a price of £733.7 per share. That is an implied total of US$100,000,000 - some 30% less than advertised even if it was true. That simply cannot be the case. The records of Companies House show that the directors had, and still have, no lawful authority to issue any shares. Also if any Series E shares had been issued then the Auditors were required to ensure it was disclosed in the late filed accounts which they approved on 17 July when they knew the statements in the Directors report and Note 28 of the accounts were wholly false and untrue. What does Colin Bell, CEO of HSBC Bank plc think he is doing? His entire background is com...