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Tony Caplin Forced To Resign Quango Post

Op-Ed Contributor

Published on 20 April 2014

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by Wiljam White


London, England

Wiljam White
Wiljam White

Every dog has it's day.

Tony Caplin — if ever there was a dog — was appointed by David Cameron to head a £60 billion quango, but has been forced to resign the post after it was revealed that he had been declared bankrupt and failed to declare the fact as is required by law.

In 2000 Caplin was a director (along with Sir Richard Needham and former Football League chief Keith Harris) — two other sleazy City operators — of Intermediate Equity plc (IEQ), when my wife and I bought 33.4 per cent of the AIM listed company.

I sacked this piece of shit as a director of IEQ when it was revealed by our auditors that he and his fellow directors had fraudulently formed the company and had made fraudulent loans to family members and close associates with a view to fraudulently siphoning off publically raised money for their own benefit.

On behalf of the shareholders my wife and I pursued very costly litigation against the former directors once we obtained the corporate records, which these directors sought to hide.

Unfortunately for us, these men were able to successfully argue that because IEQ didn't have any money (they had stolen it all), if the claim against them had failed the company would be unable to reimburse their legal fees. The court imposed an order for surety, that effectively stymied the claim from moving forward.

More than 1,450 shareholders (most of whom had invested just £100) lost their money. My wife and I lost millions of pounds.

You can read the full story of IEQ, Caplin and these other criminals in a book we published (Crooked Knight: How It All Went Wrong For IEQ)

Last time I checked it was a criminal offence for a director not to disclose his or her status as a bankrupt. Let's hope that Caplin is prosecuted for this and other offenses soon.


Wiljam White founded WireNews Limited in April 2001.


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Posted 2014-04-20 20:41:00