A council in Wales has been rebuked by the auditor general after it was tricked into giving away 10 per cent of its annual budget to a fraudster.
Officials at Harlech Community Council, in North Wales, made an “advance payment” of £9,000 of taxpayers’ money to a man named Oluwafeni Odunuga for “consultative work”.
They were only alerted to the fraud when HSBC told the authority that it was the victim of an “authorised push payment” scam in which criminals trick people into transferring money.
One of the problems with migration is that foreign names are no longer quite the alarm bell they used to be.
Still, to be fair, they’re not quite so deluded as Novo Integrated Sciences. A provider of Tai Chi style health care in California. Who have been regaling the market for months now with news about all the lovely capital they’re – no, really – about to receive:
So, why? Well, there’s the idea that this money is about to come through: “Novo Integrated Sciences Advised Receipt of Proceeds of RC Consulting Promissory Note Expected in 3-5 Business Days” As we’ve commented on that before we don’t think so, we really don’t. That cash is not about to arrive at Novo Integrated: “15 year unsecured money at one and a half percent? No, doesn’t exist. “The RC Note is unsecured and there is no provision for the conversion of debt, issuance of any class of shares, or the grant of any warrants by the Company to the Buyer. The Company is expecting to receive an initial draw against the $57,000,000 in the near future.” No, we do not believe this. There are no circumstances under which we would believe this.”
They’ve also announced this: “BELLEVUE, Wash., November 3, 2023 – Novo Integrated Sciences, Inc. (NASDAQ: NVOS) (the “Company” or “Novo”) today announced the issuance of the underlying One Billion Dollar gold backed bond (the “Bond”) specific to the previously disclosed Master Collateral Transfer Agreement. The issuance of the Bond is the initial step in the establishment of the instrument to commence the legal transfer of the collateral for the exclusive benefit of the Company. The instrument is subject to filings and safekeeping deposit creating authentication and validation for the transfer and leverage of the collateral for the benefit of perspective lenders.”