Who knew what, when and where? How in the name of all that is decent can the so called (now ex) Company Secretary & present Company solicitor Pinsent Masons not have known the extent of the fraud and lies that had riddled the Company from day one? What “Due diligence” was conducted by Pinsent Masons when they became Company Secretary and Solicitor? It is crystal clear that they either knew the extent of Ellertons’ fraud or that they failed in their Legal and Statutory duty as PAID Company Secretary and PAID Company solicitor to reign in Ellertons fraud and lies. Was there a culture of “Don’t tell. Don’t ask?”
How in 2004/5 can Ellerton charge Sefton $200,000 hundred thousand dollars for a box of worthless papers on Anderson coal bed methane data? Papers that were an after thought taken from his days at Comtek/Powerhouse. Papers that were in his garage. Papers that were freely available from the Kansas state Commission? It now comes to light that Hawaii Jim owed $200,000 hundred thousand dollars to Sefton so Jim came up with the scam of flogging himself some worthless documents to “OFFSET” his loan to Sefton! What a disgrace. Who signed that off?
How in 2006 can Ellerton “lose” $300,000 hundred thousand dollars to Monument Resources (working out of the same office as Sefton!) for assets that Ellerton had already owned in a previous company that went bankrupt? How was Ellerton allowed to populate the Board with Arleth, Smith and Milne? All 3 had been involved with companies that in total went bankrupt for over $400,000,000 FOUR HUNDRED MILLION DOLLARS! Milne was a defendant in the Oilsands Quest class action fraud case in New York. Which ended up with him and his fellow Directors having to pay $10,200,000 million dollars in compensation! These are but two of the many frauds that went unchallenged. Russell Booker needs to come clean.
Remember that Sefton Resources under Ellerton have done nothing for share-holders except fleece them of cash. Absolutely NOTHING other than take their money then filter that money into their (and their corporate advisors) pockets through various rouses; Top hat pensions, Share Options, “Perks” Cash Bonus’s, Director remuneration, Travel, Hotels, Flights, ipads, Mobile Phones, shares for their children, Company cars, Medical benefits, Consultancy fees. You take the Sefton schilling then you play the Sefton tune!
Are we to believe that Pinsent Masons never came across any of this? Are we to believe that Pinsent Masons never knew about the bogus production claims, the lies, the bogus PV10’s, the Stripper wells bought for pennies or given to Sefton for free then added to the balance sheet to artificially inflate company value? The bogus CPR’s written by one man band “Companies” operating out of a post office box or a bedroom? These CPR’s were distributed all over the City of London! Kansas Stripper wells bought for pennies. Wells that had already been plugged and abandoned by Larry Culbertson the Sefton Kansas manager as uneconomic. Some of the Wells Larry’s family had previously owned? Who do you think you are kidding Pinsent Masons?
Senior partners at Pinsent Masons need to hold an investigation into the Sefton Fraud. Their failure here is shocking. Documents in my possession from my CONFIDENTIAL SOURCES state that Pinsent Masons knew what was going on regards Dillabaugh. Claims made in Ellertons emails seen by both myself and Tom Winnifrith are crystal clear. Arleth and Ellerton state that Pinsent Masons knew all about Dillabaugh. Jeremy Delmar Morgan (Sefton Chairman at the time) told Ellerton it was “OK” Ellerton states that he gave all the data to Pinsent Masons. If that is true then Pinsent Masons MUST have known that Ellerton was fleecing the company. Yet they did nothing.