a bit shifty ?, page-2

It's not so long ago that AFT was known as Voicenet as posters here will be well aware.
AFT are trying to distance themselves from their past reputations while known as Voicenet, Southern Group and Ampersand.
Unfortunately, what I read recently does not give me the impression that the leapard has changed its
spots.

Voicenet was the darling of the dot.com boom, and many people lost their life savings in that stock.

They will be pleased to read in this morning's West Australian that "Federal authorities have hit businessman Alan Dawson, the former managing director of tech boom glamour stock, Voicenet (Aust), with two director duties charges and frozen his stake in his $3m plus family home in Peppermint Grove. "

The charges relate to the circumstances surrounding the exercise of two million options in July 1999. It is alleged payment for the options was not made until four months after the options were exercised, during which time Mr Dawson sold Voicenet shares. They should have a look at where the money came from to purchase the $3m house which was reported at that time to have been paid for in cash.

Lets hope they also have a look at the company announcements in that period, and the transactions of Mr "Hellenic" about the same time.

I reckon shareholders were somewhat misled at that time.

At the time all this was happening I posted on this and other forums that anyone intending to invest in Voicenet should do very thorough research into the announcements and the directors, but I was howled down as a down-ramper.

An investment advisor in South Perth recently was in the news because he recommended his clients invest in Voicenet when they were trading near their peak. Can anyone remember the name? I think there is a connection with a well known Perth personality, but cannot quite put my finger on the evidence.

Shareholders are unikely to recover any of their lost investment, but at least they may have some satisfaction in knowing some of those who pushed their shares to unbelievable heights have got their just deserts.