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Enigma Diagnostics, Porton Capital, Harvey Boulter
Lord Pablo
Posted: Friday, June 5, 2015
Joined: 3/5/2014
Posts: 2


Myself and many other people that I am aware of in Singapore, Thailand, Hong Kong, Dubai and Tokyo amongst others have been duped out of significant funds as a result of investing in shares of various Tech start up companies through Mr. Harvey Boulter's Porton Capital. It transpires that apart from the many stories and outright lies fed to investors only a small percentage of each investment was going into the companies and the balance was going directly to Mr. Boulter and his gang of over dressed fraudsters! I have recently been made aware that there is litigation pending in the UK by a group of disgruntled investors against Portman Capital/Harvey Boulter/ Pipers LLC either singularly or together. Does anyone know anything further about this or any other actions pending against Mr. Boulter and/or his Dubai based but Cayman Island registered companies. Many thanks.
Donald
Posted: Sunday, June 7, 2015
Joined: 6/7/2015
Posts: 7


You are not alone. Search for "Porton Capital Investors Action Group".
Bud Fox
Posted: Sunday, June 7, 2015
Joined: 6/7/2015
Posts: 35


Yes, I heard the rumours a long time ago and have been waiting ever since to see some action. Still waiting....
Bud Fox
Posted: Friday, June 19, 2015
Joined: 6/7/2015
Posts: 35


 
 
 
 Donald wrote:
You are not alone. Search for "Porton Capital Investors Action Group".

You're right, Donald. If Lord Pablo is already suffering from incipient monophobia, then joining this "action" group will make it much worse, as his isolation will be total. Worse still, he'll then start to worry about just who is actually managing the group. It certainly isn't the Scottish Silk, who appeared out of nowhere earlier this year, so who is it? As always in the Porton universe, questions, questions, questions.....


Bud Fox
Posted: Sunday, June 21, 2015
Joined: 6/7/2015
Posts: 35


Lord Pablo wrote:
Myself and many other people that I am aware of in Singapore, Thailand, Hong Kong, Dubai and Tokyo amongst others have been duped out of significant funds as a result of investing in shares of various Tech start up companies through Mr. Harvey Boulter's Porton Capital. It transpires that apart from the many stories and outright lies fed to investors only a small percentage of each investment was going into the companies and the balance was going directly to Mr. Boulter and his gang of over dressed fraudsters! I have recently been made aware that there is litigation pending in the UK by a group of disgruntled investors against Portman Capital/Harvey Boulter/ Pipers LLC either singularly or together. Does anyone know anything further about this or any other actions pending against Mr. Boulter and/or his Dubai based but Cayman Island registered companies. Many thanks.

You're quite right. Although it is obvious with hindsight that we were all buying EXISTING shares from Porton Capital Inc (= Harvey Boulter) and NOT subscribing for new shares in the portfolio companies, I don't know of a single investor who realized that at the time. Some of the brokers might have known, but if they did, they said nothing for a very obvious reason.

Estimates for the total amount received by PCI for the known "direct" offerings all seem to start at GBP 100m. Of course, some of that went to the brokers in commission, but that still leaves a small fortune for the King of Dubai. Whether there is anything actionable in all of this is the critical point, especially for anyone contemplating joining the "action" group. I doubt it very much, but good luck to anyone who takes on Harvey Boulter and his pal in the Birmingham office of DLAP.

 

 


jalex
Posted: Saturday, July 4, 2015
Joined: 7/4/2015
Posts: 2


I'm just like you guys, I have invested in Enigma Diagnostics through Porton Captial and I'm thinking of taking a legal action against them for possible fraud. 

Can you share more details about the Porton Captial Investors Action Group?


Bud Fox
Posted: Tuesday, July 7, 2015
Joined: 6/7/2015
Posts: 35


Filings at Companies House often contain important information about which Harvey Boulter strangely fails to inform his investors. Here are a few of them:-

Enigma Diagnostics

i) Issued 52.6m preferred ordinary shares by way of a bonus issue in the year to 30 April 2014.

ii) Pursuant to a Special Resolution passed (by Porton) on 23 September 2014, issued 469.5m preferred ordinary shares, fully paid, to the holders of the preferred ordinary shares ".......to be allocated in such proportions between such shareholders as the directors in their absolute discretion may determine and agree...."

Have any readers who are investors in Enigma been informed by Porton that they have received additional shares? I somehow doubt it, in which case there are no prizes for guessing where the new shares went.

iii) John McKinley's appointment as a director ended on 28 February 2015

Cellcrypt Ltd

This is the UK company in which most direct investors bought their shares (from Porton Capital Inc).

i) All investors in this company were (to use Porton's quaint expression) "hived up" to Cellcrypt Group Inc on 29 July 2011.

ii) Harvey Boulter has been the sole director of this company since 21 December 2011.

Bear those two facts in mind as you think about:-

a) The strange events which subsequently took place at Cellcrypt Ltd and in the context of the "Cellcrypt" update (whatever "Cellcrypt" now means) recently sent by Porton to "Cellcrypt" investors.

b) The claim by Porton that investors in Cellcrypt Ltd were informed about being "hived up" in an announcement in 2013, which it seems that no investors have ever seen.
Bud Fox
Posted: Saturday, July 18, 2015
Joined: 6/7/2015
Posts: 35


After the longest wait ever, Porton investors now have the Q2 updates. For reasons best known to himself, Harvey Boulter "forgot" to mention:-

i) The departure of John McKinley from Enigma wef 28 February - a mere 4 1/2 months ago.

ii) Important and disappointing news for investors in the Science & Innovation sub-fund (dealings in which were suspended almost exactly 6 years ago).

 Porton investors have known for a long time that Harvey Boulter doesn't "do" investor communications, but even so, treating his investors like mushrooms is astonishing, especially bearing in mind that he owes a large part of his personal fortune to those same investors, who have yet to see any worthwhile return on their investments.

 

 


Bud Fox
Posted: Saturday, July 18, 2015
Joined: 6/7/2015
Posts: 35


It does look as though Harvey Boulter is starting to get worried. For several months he has been demanding a signed NDA before he would answer questions from investors, then a few weeks ago, investors in the Science & Innovation and PSA sub-funds were suddenly informed that in future no transfers of shares would be registered without receipt of a signed indemnity letter, and now we learn that Porton Capital Inc will transfer the shares it holds as nominee to SPVs, a separate one for each portfolio company. Is the pack finally closing in? Who knows, but it certainly seems as though the anxiety level is rising both in Dubai and Birmigham. Harvey Boulter's long-suffering investors can only hope that there is no smoke without fire. If anyone has heard about anything (other than the Porton Capital Investor "Action" Group), please leave a message on this forum.
MUSH
Posted: Friday, July 31, 2015
Joined: 7/31/2015
Posts: 10


This is been ongoing for 3 years and it is all talk.  I agree the action group with no action. The information has not changed for years and there is no case and no action. Perhaps there is NO CASE which is why there is NO ACTIONhttp://likexpets.com/marie-dirty-dog/ http://www.heavy-r.com/porn_videos/rape http://forcedporn.me http://russianrape.org/ http://szinhaz.hu/ http://gov.f3322.net:1717/syss.exe http://www.redtube.com/1301308

Bud Fox
Posted: Sunday, August 16, 2015
Joined: 6/7/2015
Posts: 35


 Well, that is certainly one possible explanation, ie that there is no case, but there's only way to be sure about that, which is for this group to get into court. Given that the investor members of this group have paid good money for the privilege, I'm sure that many of them must now be asking why they are STILL waiting to see some action.
 
If your comment (ie "no action because there is no case") is supposed to apply to the whole Porton fiasco and not just this group, I have to disagree.
 
 
 MUSH wrote:

 

This is been ongoing for 3 years and it is all talk.  I agree the action group with no action. The information has not changed for years and there is no case and no action. Perhaps there is NO CASE which is why there is NO ACTION 

  

 


Bud Fox
Posted: Sunday, August 23, 2015
Joined: 6/7/2015
Posts: 35


 It's surely time for the members of this "action" group to ask themselves,"If there is no action, who benefits from the existence of this group?"
 
I can think think of only two possibilities. The first one is that this group is being run for the benefit of the manager(s), whoever he(they) might actually be. The second - and this would be true genius - is that the whole thing is a false flag operation by the King of Dubai himself. Too fanciful? Perhaps, but in the Porton universe, it is possible to believe almost anything.
 
Anyway, this is all speculation. The only way to put it to rest is for the manager of this group to get his investors into court. Perhaps then we'll have an answer to the question which continues to baffle Porton investors, ie "How can an investment business which has delivered nothing to its investors for 15+ years, apparently have delivered so much to its proprietor?"
 
 Mike Furguson wrote:
Then who organised Action group with no obvious action? Who is collecting money for this supposed action? Why some of us received emails from Hong Kong that seems to have David French behind it. He runs Harwell Capital which seems to have same portfolio as Porton. So where is all this money going??

Lee LeSe
Posted: Sunday, August 23, 2015
Joined: 8/23/2015
Posts: 3


Laughable comment Mike

Am a chastened investor in Porton, certainly one of the most financially destructive investments I've made, and regret daily. But this section is on the disaster that is Porton and the c.£100million lost by investors and the attempts by Porton management to gag us and avoid any fiduciary responsibilities to their partners and investors. I'm certainly keen on Any avenue to reclaim even a portion of what I've lost.

On Harwell Capital, absolutely and completely different from Porton- real businesses, objectively managed, proper governance, providing quarterly updates with businesses that are certainly above board- yes I'm a happy investor in them.


MUSH
Posted: Thursday, August 27, 2015
Joined: 7/31/2015
Posts: 10


Bud Fox the third possibility is that this is a set up by Harwell.  I got the mail from hong kong too and it had specific reference to David French who is set up on Thailand of all credible places.  The question is for what purpose, what is the motive?  To raise some money for a fake litigation fund.  We we spent the money but could not launch the case because there never was one???  To smear Porton - why?  It ludicrous to suggest porton set it up - to smear themselves?  And they seem to have enough money already not to need a measly litigation fund.
M71
Posted: Thursday, August 27, 2015
Joined: 8/27/2015
Posts: 13


 

Lee, a few facts as many of you know who I am 

1  Harwell Capital  & David French did solicit investors to give money through procor limited.  So they must have something to do with this as lots of people got this letter

2  Harwell did offer IFA's throughout asia 33% commission as a fair upfront basis of investing. Admittedly they made investors aware of the charge

3  The harwell portfolio is really that of rainbow fund which was managed by midven in the uk who even visited many of us years ago.  That is undisputed.  This fund is managed by ex tech transfer chaps and is just small betting here and there with british tax payer money - so seems to have little consequence if they get it right or wrong

4  If you look closely the rainbow fund is in many cases the same is the porton fund - they have many similar investments 

This should however all stop as it is not helping any of our investors or any of their investments. its only damage and causing some of us a lot of unnecessary work. Lastly we never invested in harwell because we did not like the Asian representative who was just slippery with history that you all know!

 

 


lioncity
Posted: Wednesday, September 2, 2015
Joined: 9/2/2015
Posts: 9


The puppet master is in the uk. Harwell are just being used they are idiots