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PRESS RELEASE: Paid content from TS Newswire
Press release content from TS Newswire. The AP news staff was not involved in its creation.

FCA Investigates Securities Fraud in Fintech newcomer Supply@ME Capital PLC (SYME)

November 19, 2020 GMT

New York, NY ( TS Newswire ) -- 20 Nov 2020

A Financial Conduct Authority executive said the U.K. regulator is investigating securities fraud in the case of a listed company Supply@ME Capital PLC (SYME) and whether directors in the listed firm, including CEO Allesandro Zamboni, falsified revenue and profits. A member of the Executive Director of Enforcement and Market Oversight team said in this case the FCA suspects that the contracts and clients purported to have been obtained by the company do not exist. In addition, Dominic White, a Chairman of SYME sold 3,000,000 shares in late September, moments after the company put out false information to inflate its stock. Press releases, including RNS releases were apparently concocted to pump share prices while company insiders dumped shares surreptitiously.

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These are cases not many other regulators or law enforcement agencies chose to take on but we must if we want to ensure our approach to market abuse is not unduly narrow or limited and that we are prepared to tackle the hardest cases, the source said.

They were laying out the FCAs broad strategy to crack down on market abuse. In the past two years, the regulator has imposed several fines on financial institutions, particularly for their failure to comply with their reporting obligations. It has built up a credible track record of insider-trading prosecutions.

The investigation remains open and the FCA is looking into companies that appear to be working with Supply@ME to determine the extent of their knowledge about the market abuse being alleged. Stormharbour Securities, who partnered with SYME some months ago is being looked at with particular scrutiny for any wrongdoing.

The other board members complicit in this scheme include:

Susanne Chishti Non-executive Director

Enrico Camerinelli Non-executive Director

Stuart Nelson Head of Enterprise Risk Management

#SYMEs accomplice in the Middle East is Khaled Abdulla Almass with iMass LLC

And the other companies helping to perpetrate this fraud:

Orchestra Group Zamboni is a beneficial owner of TAG and Orchestra Group who owns 7% of #SYME

AvantGarde group Zamboni is the CEO and this company and controls the independent bank #SYME has claimed to aquire

Walbrook PR Limited including Paul Vann, Nick Rome, and Nicholas Johnson.

Brian Norris at Cicero/AMO

Crowe U.K. LLP

Storm Harbor

Epic SIM

Sia

Below is a list of journalists who have written articles ramping the #SYME share price:

Joseph Hoppe WSJ

Dayo Laniyan Alliance News

Paul McGowan Alliance News

Evelina Grecenko Alliance News

Matteo Castia Dow Jones

Andriano Marchese Dow Jones

Desmond OFlynn Born to Invest