ZYB 0.00% 1.5¢ zyber holdings ltd

It is worth taking a look at what happened with LWP...

  1. 7,397 Posts.
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    It is worth taking a look at what happened with LWP Technologies. This company even admitted to the ASX that it had made false and misleading announcements yet ASIC claimed there was insufficient evidence of any wrong doing. They got caught out being involved in a battery scam where ice cream machines were passed off as scientific equipment.

    The QLD Police fraud squad did make an arrest but only due to there being a couple of Hells Angels bikies involved. No action taken against the directors by any regulator. This company got several high ranking MP's involved all questioning ASIC all to no avail.

    What often happens in these cases is that the directors have no assets in their name, the company has no money and directors insurance doesnt cover deliberate acts of dishonesty. Shareholders may win a court case, but there is no money to recoup so they are just left with a big legal bill.
 
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