Tuesday, April 29, 2008

British Liquidators Have "Some Very Serious Questions" For Stefan Eriksson Re: Gizmondo Crash

(Updated Dec 6, 2009)
The british liquidators have demanded a meeting with Stefan Eriksson, the ex-Gizmondo executive who became world-famous after his post-Gizmondo wrecking of a million dollar Ferrari Enzo. ”Three people of interest at this moment in time. They need to come in to answer some very serious questions regarding their conduct,” says James Hunt, an independent investigator who handles a part of the Gizmondo investigation for the british liquidators, Begbies Taylor and David Rubin.

Stefan Eriksson told the the Swedish news site The Local (which is published in English) that the liquidators have been in touch with him, but that he has been "very, very busy" and not able to meet with them yet. ”I have nothing to hide,” he told the site. However, the liquidators' patience with him seems to be running thin.

”Stefan Eriksson has failed to give appropriate dates, but we will be patient, and extend all the curtesy to him, and if that doesn’t bring him to the table, their are remedies for the High Court that we will seek,” James Hunt told me yesterday in an interview for a news story I did for Realtid.se.

Two other ex-Gizmondo executives are beeing sought by the liquidtors, Peter Uf, a Gizmondo director with a criminal past as a member of the so-called Uppsala Mafia, and Leon Daniel, the former legal counsel for Gizmondo.

James Hunt adds that the british High Court could order the three to attend a meeting with the liquidators, and that if they fail to do that, the court could issue a warrant for their arrest, which in turn could lead to demands for their extradition to the U.K.

”The full force of the law would be used to uncover what truly happened,” he says, and describes the investigation as open-ended. ”It’s an ongoing indebt investigation into all parties involved, except for Carl Freer, who is now, due to his assistance and conduct, being excluded from the investigation.”

”Carl Freer has cooperated fully, and we do wish him every success in his new venture. His contribution to the investigation has not only saved us a considerable amount of time and cost, but added a great deal of financial value to the investigation. He did not go to the media and because of that, he got a lot of criticism, which was underserved. We regret that now, but he did keep his word and came through. Hence we took the unprecedented step of selling him back the assets, which happened in the end of 2007.”

Hans Sandberg

PS. This article is being discussed on the Gismondo Forum.

Update: James Hunt, who assisted the liquidators in trying to recover funds from the Gizmondo stock crash, later became a consultant for Carl Freer and his company Media Power. In December 2008, I asked him about his dual role as working both for the liquidators and Media Power, he denied any conflict of interest. Mr. Hunt no longer works with Carl Freer or his companies, but it looks highly questionable that he signed on as a paid consultant for a company that he was hired to investigate and supervise on behalf of the liquidators. We have tried to get in touch with Mr. Hunt, but our emails have been returned by the server indicating that he has changed his email address.    

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