First, and to the best of our knowledge Aries Telecoms fka V Telecoms has not defrauded its customers.
What is the blog for ?
This blog is to highlight the theft and fraud that has befell the shareholders of Vasseti PLC nka Zavarco PLC. Vasseti PLC is the holding company for Vasseti Berhad (M). V Telecoms Berhad (M) nka Aries Telecoms Berhad (M) is a 100% subsidiary of Vasseti Berhad. The group was floated on the Frankfurt Stock Exchange and was finally delisted from the exchange on the 27th April 2015 where upon the company directors cited the most dishonest and ludicrous of reasons.
In short, the company was stolen from the Vasseti group and its shareholders and millions of shareholders money has been stolen with it. Innocent people have had millions defrauded from them in order to build their Telecom business and Telco network that you see and use today, but instead of rewarding the shareholders for their loyalty and trust they decided it would be smarter to just steal their money.
What is being done about it ?
In the UK,
To the best of our knowledge reports have been filed with the UK Police for fraud.
A shareholder, Peter Blomqvist has been battling it out in the UK Courts to try and retake control of the company from the UK side.
Links - Blomqvist v Zavarco PLC and Directors Judgement 2nd July 2015
Blomqvist v Zacarco PLC Malaysia Judgement 28th Jan 2016.
Most recently - Blomqvist v Zavarco Plc (March 2016): Appearing for the claimant in a Companies Court trial where the issues were whether the issue of 7 billion shares in a plc was authorised by the company and as to the validity of the claimant's notice calling a general meeting to replace the directors. - Awaiting Judgement.
During 2015, Aries Telecoms PLC attempted to float the company back on a Stock Exchange this time the London equivalent the AIM and with a group effort we were able to block this action. We are led to believe from our Malaysian contact that they are again gearing up to try and list the company.
In Germany,
Complaints of fraud have been filed with the Frankfurt Stock Exchange regulators BaFin and an investigation is in progress.
In Malaysia,
To the best of our knowledge reports have been filed with the Malaysian Police for fraud.
Media coverage from the The Edge newspaper.
Link - Shareholder dispute at Zavarco page 19
Ranjeet Singh Sidhu past CEO of the Vasseti Group and major shareholder took great effort to shut down the the perpetrators of this fraud with a winding up petition during 2015.
Link - RRS v Open Fibre (Winding up Petition)
Tan Sri Syed Mohd Yusof Bin Tun Syed Nasir, past Chairman and major shareholder who bought a 30% stake in Vasseti during 2010, along with Ranjeet Singh Sidhu, have jointly filed a class action suit for all the shareholders and this can be found here. The action is ongoing.
Link - RSS, Tan Sri Syed v Zavarco, Open Fibre and more (Class Action Suit).
What do we want ?
Justice ....
You can HELP, we welcome and invite any support to our cause and to support the people who have had their money stolen by these criminals.
A very large thank you to all who read this and again thanks to all who support the shareholders and the blog. Thank You.
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Best, Robert Ross.
