Listed company scammed!
Discussion
Lekoil (LEK on AIM) trading was suspended at the company's request yesterday
Then, after the market closed, this was announced
https://www.londonstockexchange.com/exchange/news/...
Quite incredible
"Following the Company's announcement earlier today, the Company is now in a position to advise that, based on all information currently available to Lekoil, the loan agreement announced on 2 January 2020 by the Company, purportedly with the Qatar Investment Authority ("QIA") (the "Facility Agreement" or the "Transaction") seems to have been entered into by the Company with individuals who have constructed a complex facade in order to masquerade as representatives of the QIA (the "Counterparties").
...
Lekoil confirms that its financial exposure associated with the Facility Agreement is limited to approximately US$600,000 (being the amounts paid in good faith as initial arrangement fees to Seawave, and the Company's associated legal fees) and can also confirm that there have been no monies paid by Lekoil to the Counterparties. Any further fees due pursuant to the Transaction (which, for the avoidance of doubt, will not be paid) would only have been payable upon drawdown of funds.
Whilst Lekoil will take all reasonable actions to recover the fees paid to Seawave, there can be no guarantee that such attempts will be successful..."
Trading has now been restored
Then, after the market closed, this was announced
https://www.londonstockexchange.com/exchange/news/...
Quite incredible
"Following the Company's announcement earlier today, the Company is now in a position to advise that, based on all information currently available to Lekoil, the loan agreement announced on 2 January 2020 by the Company, purportedly with the Qatar Investment Authority ("QIA") (the "Facility Agreement" or the "Transaction") seems to have been entered into by the Company with individuals who have constructed a complex facade in order to masquerade as representatives of the QIA (the "Counterparties").
...
Lekoil confirms that its financial exposure associated with the Facility Agreement is limited to approximately US$600,000 (being the amounts paid in good faith as initial arrangement fees to Seawave, and the Company's associated legal fees) and can also confirm that there have been no monies paid by Lekoil to the Counterparties. Any further fees due pursuant to the Transaction (which, for the avoidance of doubt, will not be paid) would only have been payable upon drawdown of funds.
Whilst Lekoil will take all reasonable actions to recover the fees paid to Seawave, there can be no guarantee that such attempts will be successful..."
Trading has now been restored
sounds like jho lows modus operandi, as covered in this book
https://www.amazon.co.uk/Billion-Dollar-Whale-fool...
https://www.amazon.co.uk/Billion-Dollar-Whale-fool...
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