VASCORY AG shareholders beware....

We were sent the following warning from the German regulators website BaFin.

Vascory AG, a company listed on the Frankfurt Stock Exchange and run by Tan Sri Syed Nasir and Ranjeet Singh Sidhu is potentially about to get hit with a whopping fine for not complying with the regulators financial reporting requirements (sounds familiar).

If you are a shareholder in Vascory AG then please taken note and then take action !!!

Vascory AG BaFin Warning - Click Here.

We have another Vascory story to follow shortly after we have posted part 2 of TS v Zavarco.

Stay tuned.

"there was no limit to their lies back then" .....

These two scans where taken from their sales packs which were circulating at the time. These were sent to us with the remark, "there was no limit to their lies back then". 

Translation of the brochure is as follows,
"Vasseti group was founded in 1996 and Asia head office was established in Malaysia. Vasseti group is a merger & the acquisition of several different companies from some unifying countries views on business improvement.In the first phase of consolidation, Vasseti The Malaysian Group is worth 1 billion US dollars at the end of 2010 & will be part of the global corporation, Vasseti (UK) PLC. As part of the global corporation then Vasseti will include the Asia and East Asia middle. And will be part of the company which is worth 12 billion US dollars in 2015. Vasseti has developed a network in three a very populous country that is: India, Indonesia and China In its development Vasseti leads coverage bigger business, with excellent products in the form of telecommunications optical and central networks the best data in its class Current developments Vasseti's business covers construction of hotel luxury international standards in Malaysia, resorts, apartments luxury, golf clubs, cars, plantations and IP advertisements."

The below picture is the New Four Seasons hotel which was to be built in KL. Yes, this is a project that belongs to Tan Sri Syed Nasir, but as we have now learned it had nothing to do with Vasseti. It was named their "NEXT BIG PROJECT" it should have been renamed to their "NEXT BIG LIE". It's easy to see how investors get sucked into this land of make believe. Investor deception and dishonesty at its finest.

Tan Sri Syed Yusof Bin Tun Syed Nasir v Zavarco PLC continued .... even more lies .... Part 1 ....

The release of that judgement, allows us to go back and examine the past and see just how much of a sham and a fraud this has all been.

Before we move on to review more of the Judge's comments and what he had to say about the actual value of the Vasseti Group. We must turn the clock back to 2010 and 2011, when the Vasseti/Zavarco investment was being sold to private investors and then later to the public via an IPO and shares listed on the Frankfurt Stock Exchange. 

Here is what this investment looked like to you, during that time,

The Board of Directors and shareholders for Vasseti/Zavarco Group where as follows,

Group Chairman and 30% Shareholder,
Tan Sri Syed Mohd Yusof Bin Tun Nasir.

Group Managing Director and Shareholder,
Ranjeet Singh Sidhu.

Group Directors and Shareholders,
Dato M.Harisharan Pal Singh.
General Dato Sri HJ Suleiman Bin Mahmud.
Edmund Loo
Steven Marriott
Pushpan Murugiah

The Vasseti Group was allegedly valued at Frankfurt Stock Exchange via the Crilly Letter at 2.3 billlion euros.

The Vasseti investment listed no less than 10 companies within the group and these were as follows,

V - Telecoms Berhad
Templer Park Golf Course
Vasseti Datatech Berhad
Vasseti Engineering Berhad
Median Real Estate Berhad
Vasseti Farmland Berhad
Vasseti HR Services Berhad
Vasseti Life Concept Berhad
Ezreen Auto Berhad
Vasseti Security Berhad.

Fast forward to present day, 2018, and ask yourself out of that entire line up what is left?

Nothing ...... literally nothing ....  

It's just fraud ....

The only business that is left in the group that has any value is the Templer Park Golf course and that alone needs NOW to be seized, valued and sold, so that shareholders are able to recover some of their investment back.

All of those directors with distinguished backgrounds, claiming to have bought into the company, nothing but make believe......manufactured to make you believe you were investing into safe, sound and secure business. Hey, if it was safe for them to put their money in, then why shouldn't you...

What happened to the other eight companies on that list? I mean, I'm being serious here, where are they ?? were they even real ?? or just more lies, abandoned in 2013 like everything else was...

Finally, that valuation of the company, 2.3 billion euros, real or make believe again....

In part 2 we will return to the judgement and breakdown the judge's comments on the value of the company and the above.

Just to be clear about our last post ...

We have received emails from very confused and worried shareholders about how and where we received the information for that post and how much of it is true.

The facts are as follows,

To understand the matter further, we need to go back in time to an article that was first published by The Star (business) on the 21st of August 2010, "Tan Sri Syed Yusof Nasir buys into Vasseti".

To read this article again please click here.

Coming back to 2017. There is a court hearing in the UK "Tan Sri Syed Nasir v Zavarco PLC fkn Vasseti PLC. 

The judgement for that hearing is click here.

The UK Judge presiding, said the following about the article you have just read,

"He was interviewed by The Star in Malaysia which ran the story under the headline "Syed Yusof buys into Vasseti [ZB], which is launching its broadband service today" and began: "Kuala Lumpur: Businessman Tan Sri Dyed Yusof Syed Nasir has bought a 30% stake in Vasseti Berhad [ZB]..." This was in line with evidence given to me by Dato Singh who said "I think Tan Sri invested a lot of money in the company"."

"But Mr Nasir's evidence was that he invested no money in ZB."

"When it was put to him that the journalist at The Star had been misled into thinking that he had such confidence in ZB that he had put his own money into it, Mr Nasir said "Well, you know, I mean, it's fully paid, of course it's like your own money, you know, but there is an arrangement of course, you know, will come. This is part of the exercise that for the company to move on." He was asked if it was "part of the image" and said, "Image, yes." This seemed to me to show a willingness to allow people to be misled on an important point which damaged his credibility as a witness."

In short, you were misled and deceived into thinking that a local Malaysian billionaire had put such faith in this company that he ended up committing his own personal funds to it.  

NOT TRUE....

Mr Nasir was a merely a decoration, brought on board to give investors a false security and confidence that their investment was being helmed by a distinguished and well thought of businessman.

This is evidenced further in the following extracts from that court hearing,

"Mr Nasir said, "Mr Sidhu told me that he thought that I could help to attract the right level of investment if I was willing to hold some shares and become a director"."

The Judge then remarked,

"I was shown no documents evidencing any active involvement by Mr Nasir in VTel or ZB, and no documents (in particular) in connection with any work he did in raising investment."
Whilst I accept that Mr Nasir was a more distinguished figure than Dato Singh, both were brought on board to lend their names and reputations to the business.

"This ties in with the news report and the (wrong) information given to Dato Singh that Mr Nasir had been willing to pay for his own shares in the business. It was all about appearances, but the appearances did not have to reflect the reality."

"My impression from Mr Nasir's evidence and from Mr Sidhu's evidence was that Mr Nasir's contribution was his name, his contacts, and his prestige. He was given shares and a directorship so that he appeared to the outside world to be a major shareholder and director but only the appearance of this mattered."

The Judge concluded the following,

"I conclude that he thought it would be good for him to be involved, but did not much care, still less stipulate, how it should turn out for him. He left it all in trust to Mr Sidhu and went along with whatever he was told from time to time."

Our conclusion,

Your investment is lost. 

There needs to be a full Police investigation and a full and transparent audit of how and where investors money was received and spent. Only then will shareholders receive the proper restitution they deserve.

Back soon.

Breaking down the Tan Sri Syed Yusof Bin Tun Syed Nasir v Zavarco Judgement and why shareholders have been misled and deceived...

What was the importance of this judgement in the first place?

If this court action had succeeded, then Tan Sri  Syed Nasir, past director, chairman and alleged majority shareholder of the Vasseti Group, would have been allowed to vote at a General Meeting.  

Why does he need to vote?

To remove the current board of directors who they claim went rogue. Now, without his shares there is a real danger that there are insufficient shares in order to win the vote to ultimately eject the current board of (rogue) directors. 

Why are we so angry with this judgement?

Very simply, because we've all been misled and lied to... 

The question that you need to ask yourself is, would you have committed to this investment if you had known that Tan Sri Syed Nasir had decided not to personally invest his money to buy 30% of the company.  Our answer is a resounding  NO...  there is not a chance any of us would have committed our funds to Vasseti if we had known the truth... 

Here are several extracts from the judgement and the judge's comments,

"Mr Nasir was interviewed by The Star in Malaysia which ran the story under the headline "Syed Yusof buys into Vasseti [ZB], which is launching its broadband service today" and began: "Kuala Lumpur: Businessman Tan Sri Dyed Yusof Syed Nasir has bought a 30% stake in Vasseti Berhad [ZB]..." This was in line with evidence given to me by Dato Singh who said: "I think Tan Sri invested a lot of money in the company". Dato Singh said this was what he was told at the time (Day 3 p 49 line 12 to p 50 line 23). But Mr Nasir's evidence was that he invested no money in ZB; his 4 million ZB shares were paid for by Mr Sidhu (Day 1 p 32 lines 10-19). When it was put to him that the journalist at The Star had been misled into thinking that he had such confidence in ZB that he had put his own money into it, Mr Nasir said "Well, you know, I mean, it's fully paid, of course it's like your own money, you know, but there is an arrangement of course, you know, will come. This is part of the exercise that for the company to move on." He was asked if it was "part of the image" and said, "Image, yes." This seemed to me to show a willingness to allow people to be misled on an important point which damaged his credibility as a witness."

The Judge concluded the following,

"I conclude that Mr Nasir is not a reliable witness and that where he makes assertions which are not corroborated by contemporaneous documents or other more reliable witnesses I should treat them with care. I conclude from the evidence that he took very little interest in any of the details of the matters he is asked to give evidence upon; that his recollection is unreliable; and that his evidence is not a truly independent recollection but coloured by the context in which he is talking."
My impression from Mr Nasir's evidence and from Mr Sidhu's evidence was that Mr Nasir's contribution was his name, his contacts, and his prestige. He was given shares and a directorship so that he appeared to the outside world to be a major shareholder and director but only the appearance of this mattered; it was not necessary that he should actually be an investor and, in reality, everything was done and decided by Shailen and Mr Sidhu. This ties in with the news report and the (wrong) information given to Dato Singh that Mr Nasir had been willing to pay for his own shares in the business. It was all about appearances, but the appearances did not have to reflect the reality.

"Dato Singh said in cross-examination that he had been told that Mr Nasir "had invested a lot of money" in ZB. This was not correct, as shown by the evidence including the evidence of Mr Nasir: Mr Nasir invested no money in ZB."

So shareholders there you have it, the beginning of the end and part of the reason as to why our investment is now lost.  Tan Sri Syed Nasir had nothing to lose and therefore probably didn't care if the company succeeded or not.  

Later in a separate post, we will demonstrate why we believe, the past board of directors could not have cared-less about your investment and probably the eventual success of the company, which as we later will find out was built on more lies.

To read the judgement again, please click here...

We are back ....

Dear Vasseti Zavarco Shareholders,

Our last post was published during November 2017 and it featured the release of a long-awaited Judgement for Tan Sri v Zavarco.

There has been little to say about the last released judgement from the UK,  other than the people that you thought or hoped where trustworthy turned out to be a bunch of outright fucking liars and were happy to mislead everyone including a British Judge, who saw straight through their bullshit.

Two things need to happen,

1. Accountability, the people here who have misled and deceived investors need to be held fully accountable for the loss of investors funds.

2. The need for a full Police investigation on all past & present board of directors of Vasseti Zavarco.

Stay Tuned.

Day 4 Tan Sri Syed Yusof Bin Tun Syed Nasir v Zavarco PLC ...

Dear Shareholders,

No further news other than we have entered into day 4 of the trial,

We will keep you posted.