Monday, 17 February 2014

Platinum Partners Limited launches new Australian circular investment scam

Platinum Partners Limited is an American hedge fund that engages in share manipulation, related party fraud and circular investment scams run by overseas listed investment companies. An openly criminal organization, Platinum Partners is associated with the Blumont group securities fraud, and helped this cartel of Singaporean listed investment companies manipulate the price of each other and their "investments". Before the "mysterious" October 2013 crash of the Blumont cartel, Platinum Partners was reportedly set to inject a further US$560 million into shares issued by the cartel. After the collapse, Platinum Partners instead provided funds in the form of convertible bonds, proving there is more than one way to skin a cat or fleece an investor.

This blatant fraud was supported, legitimized and encouraged by regulators in Australia, Singapore, Malaysia and the United States. Even after receiving detailed information about the fraud, the regulators' sole action was to help the powerful criminals hide their tracks, proving conclusively the extent of regulator complicity in these crimes. These frauds continue unabated, with Merlin Diamonds (MED.AX) today announcing Blumont is making an "investment" in the company.

Platinum Partners is now helping Malaysian listed investment company Notion VTec Berhad launch a circular investment scam using the ASX-listed Alcyone Resources (AYN.AX). Platinum Partners "lent" money to AYN, which then "bought" assets from Platinum Partners, while Platinum Partners also "invested" in AYN shares. AYN can no longer be considered a mining company, but now functions as a vehicle for securities fraud, performing sham transactions and revaluations with related parties.

Notion VTec Berhad recently became a "cornerstone investor" in AYN, taking up a 20% stake as the loss-making AYN issued a veritable tsunami of shares. Trading at around $0.001-0.002, AYN now has close to 7bn shares outstanding, and so it is likely that the criminals will effect a share consolidation and a share ramp. AYN of course has been repurposed as a "listed investment company", making its first "investment" in loss-making Black Mountain Resources (BMZ.AX), using the funds helpfully "lent" by Platinum Partners.

This follows the fabulous and entirely unexpected news that Northern Mining (NMI.AX) has become a listed investment company too, by establishing investment subsidiary NMI Limited in the Seychelles.

This means parties unknown invest in Provenance Finance BVI, which invests in Northern Mining, which invests in NMI Limited, which invests in "opportunities".


  1. Ha Ha Ha! What a rort!

    Alcyone used to be called Macmin, who went bust at the end of 2008. I know that because I bought 50000 or so shares at about a cent eachLost the lot.

    From your link:

    “While the Texas silver project in Queensland will remain our flagship asset, this transaction paves the way for
    Alcyone to diversify away from a single mining operation in one region,”
    Mr Reed said.

    This must be code for "Our flagship project has always been a fraud, so to keep the scam going we have to engage in yet more fraud", to wit,
    the New Departure Silver Mine "was discovered in the 1880s, the project has produced high grade silver through several operators, though production ceased in the 1980s". So there's fuck all silver left.

  2. The saga continues................................AYN announcement 5 March 2014:

    Termination of Credit facility and Red Arrow acquisition
    Rights issue to raise up to circa $13.8m to pay out existing debt and fund working capital
    General meeting of shareholders to approve aspects of the restructure and consolidation of capital
    Mining operations suspended pending completion of the rights issue and company restructure
    Streamlined board to manage the transitional arrangements

    Dr are you that effective that the fraudsters are changing tact?

    1. Isn't it pretty to think so? Seriously though, my blog impedes these criminals like a sandcastle impedes the tide, infinitesimally if at all.

  3. Thank you for this post. I came across it when looking into Platinum Partners' dealings with Range Resources. I see there is a link here through Black Mountain Resources to OKAP/Komodo and hence Range.