NCA Concludes Banks Didn’t Break Law

The National Crime Agency has concluded that Arron Banks and Leave.EU did not commit a criminal offence after the Electoral Commission referred allegations to them.

The NCA has full access to bank transactions and found nothing illegal or untoward. Carole Cadwallader’s absurd conspiracy theories have once again been found to have zero credibility – she should make a settlement offer this afternoon…

The conclusion reads as follows:

The NCA investigation has concluded that:

  • Mr Banks took a loan from Rock Holdings Ltd, a company of which he is the ultimate beneficial owner. He was legally entitled to do so.
  • Mr Banks was legally entitled, in his capacity as an individual, to release these funds to Better for the Country Ltd, by instructing another of his companies, Rock Services Ltd, to make the transactions on his behalf.
  • Rock Holdings Ltd was not involved in these transactions in a manner which contravened PPERA.

The NCA has found no evidence that any criminal offences have been committed under PPERA or company law by any of the individuals or organisations referred to it by the Electoral Commission. It will therefore take no further action against Mr Banks, Ms Bilney, Better for the Country Ltd or Leave.EU in respect of this specific matter.

Despite successive recent defeats, the Electoral Commission have refused to back down, saying, “We urge the UK’s governments to act on those recommendations to support voter confidence”, today’s Electoral Commission defeat is another example of how it simply isn’t fit for purpose…

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Carole Issues Yet Another Correction

Carole Cadwalladr has been forced to retract her “Brexit Disaster Capitalism” conspiracy tweet, following her obvious errors being pointed out by Guido and the FT.

Carole seems so embarrassed that she even took the step of embarrassingly urging her pals at fake news merchants ‘Byline Times’, to issue a correction too. Classic Cadwalladr with yet another correction

Carole’s Short of Logic on “Brexit Disaster Capitalism”

In the wilder corners of Twitter, the remainiacs have a meta-conspiracy theory they call “Brexit Disaster Capitalism”, it has a number of components and is based on some far-fetched premises;

  • Brexit will be a disaster and lead to economic collapse.
  • Prominent rich Brexiteers know this, they intend to profit from it by selling short stocks high to buy back low after the disaster.
  • City tycoons and hedge fund managers financed the Brexit campaign to bring about the collapse from which they will profit massively whilst the rest of us suffer.

The fact that Jacob Rees-Mogg, for example, has an interest in a fund management firm is cited as proof. The latest incarnation and attempt to shore up the theory is based on the publicly-disclosed short interests of various fund managers who have given money to the Tories, Vote Leave or Boris Johnson’s campaigns. Carole Cadwalladr tweeted last night that they have aggregate short positions of some £4,563,350,000. Four and a half billion quid of shorts by Brexit-backing fund managers sounds like a huge amount. Except it isn’t in relative terms.

The UK stock market is capitalised at over £4 trillion, so that aggregate short position is equivalent to something like a tenth of 1% of the market. Nothing unusual. Long/short funds usually trade stock pairs, so the funds most likely won’t even be that short in net terms because a fund goes short one stock and hedges the position long another stock (hence the term “hedge* fund”). The profit (or loss) is from the difference in the stocks’ relative performances.

More obviously, these funds are overall net long the market, if these rapacious plutocrats were betting on disaster, why would they be positioned to profit massively when the broad stock market went up and lose when it went down? Publicly available data, for example, shows that the prominent Brexiteer donor Paul Marshall’s firm has £1.3 billion in short positions on the UK stock market. His firm manages some £30 billion of assets. Which suggests he is in reality geared to profit far more from rising than falling stock markets.

Incidentally, if the fund managers had been short since referendum night they would have lost their fortunes, given the FTSE is up over a 1000 points since the referendum. The whole “Brexit Disaster Capitalism” conspiracy theory does not make sense even if you accept the premise that Brexit will be a disaster. The hedge fund managers are long the market in the expectation stocks will continue to rise…

*The hedge might also be against derivatives or the relevant market index. To go short without hedge is to be nakedly short. A brave trade.

Brexit ‘Whistleblower’ Shahmir Sanni Appears on Putin’s State Propaganda Channel

Hapless Brexit ‘whistleblower’ Shahmir Sanni has been having a hard time getting anyone to listen to him for the last few months years outside of the tinfoil Cadwalladr-Jukes-Byline Twittersphere. After the BBC declined to run his comments about Dominic Cummings a couple of weeks ago, he’s now found a new outlet to vent on. Russia Today.

RT is the repeatedly sanctioned English-language propaganda channel of the person Carole believes is behind the whole of Brexit, Vladimir Putin. Carole has repeatedly pointed the finger of blame at RT itself, Guido wonders what she’ll have to say about it now her pet whistleblower is appearing on it. Her spider diagram is going to need to turn 4-dimensional to explain all of this…

Zoolander is appearing on the channel’s ‘Going Underground’ show at 11.30am to tell his story to Putin’s faithful, now that no-one else is paying him any attention. Funny how he doesn’t seem so concerned about Russia “infiltrating our democracy” now…

Just four days ago the confused Remain campaigner tweeted that he “will never support a Russian state-funded broadcaster”. What changed?

Taking money from the Kremlin to appear on Putin’s propaganda outlet is a funny way to get Russia to “leave me alone”. To coin a phrase, “the hypocrisy is unbelievable”. When the only place still taking your desperate attention seeking seriously is Putin’s state propaganda channel it’s probably time to find a new hobby…

UPDATE: The presenter has now tweeted that Shahmir wasn’t paid for his interview. Shilling for free! Vlad will be delighted…

Cadwalladr’s Company Facing Strike Off Owing HMRC Thousands In Tax

Carole Cadwalladr’s beleaguered limited company is now facing compulsory strike off within two months. Unless cause is shown to the contrary within two months Hyggelig Limited will be struck off the register and the company will be dissolved. The last accounts filed showed the company owes a lot of cash in tax too. Almost as chaotic as Carole’s continuously corrected ‘journalism’…

A bean counting co-conspirator has been in touch with Guido to say this is a well known tactic for directors in debt to allow Companies House to strike off their businesses and avoid paying taxes that are legally due to HMRC. It’s referred to in the trade as ‘liquidation through the back door’ as it avoids any formal investigation into the conduct of the Directors.

Further inspection of the last set of accounts filed for Hyggelig Limited these state £19,999 of corporation tax was owed to HMRC as at 31 March 2017. Given that the corporation tax liability for the 31 March 2017 year end was only £8,563 this would suggest £11,436 was still due for the previous years too and should have been paid by 1 January 2017. Guido has no way of knowing she has paid her corporate tax bill because Carole has failed to file her accounts. Carole’s got more in common with Facebook than she admits…

*Guido has left multiple messages for Carole to discuss the situation, no explanation has been proffered.

Cadwalladr’s Latest Miscarriage of Justice

Last night by a strange twist of fate Carole Cadwalladr and Darren Grimes were stuck on the same Peterbororugh train. At 7.30 pm she tweeted this, Guido was shocked, was the Electoral Commission really this vindictive? Confused, Guido went to the Electoral Commission website to read the statement. It looked like an old statement with an update to report that Darren had been cleared in Court. To be certain Guido called the Electoral Commission…

By now the BBC had put out Carole’s version of events as a breaking news alert, Reuters had taken a similar line. The reality was as above.

Guido’s tweet was greeted with accusations of “fake news” by Carole’s fans who were congratulating her, reveling in what would now happen to Darren in jail. MPs like Layla Moran were using it to make political points. Even when told bluntly she had read the statement wrong she prevaricated.

These people are deranged with their obsession to demonise Brexit supporters…

Carole Threatens to Counter-Sue “Bully” Banks For Harassment

After Arron Banks filed formal libel proceedings against Carole Cadwalladr over her Russian money claims last Friday, Carole has responded… by counter-suing Banks for harassment. Carole is complaining that Banks has chosen to sue her personally rather than the Observer, the Guardian or TED. Of course, Carole was quite happy to personally receive all the accolades for her stories to the extent that she even threatened legal action against her fellow journalists. Funny how she’s not so keen on taking personal responsibility now…

Carole says she will use the defence that her statements were true, meanwhile her lawyers have threatened Banks that she will counter-sue for harassment if he continues with the libel proceedings. A pretty odd response if they’re so convinced they’re going to win…

Carole seems to think she should have the right to publish stories attacking other people without them even being allowed to try to defend their own reputations in response – the whole point of libel proceedings is that it stops petty squabbles like this and allows the courts to arbitrate. If she’s got the evidence she claims then she’s got nothing to worry about…

Banks Formally Files Libel Proceedings Against Carole Cadwalladr

Last month Arron Banks warned Carole Cadwalladr that he was initiating libel action against her over her claims that he had a “covert relationship” with and had been offered money by the Russian Government. Over 14 days have passed and Carole has failed to respond – Banks has now formally initiated proceedings in the High Court. Banks insists that there is no truth to her claims whatsoever, and he’s had enough…

Banks is suing Carole on two grounds over two separate speeches she made, Carole’s claims are expected to be giving another airing in an upcoming Netflix documentary called The Great Hack. If Netflix repeat the claim Banks will, according to Andy Wigmore, be suing them too…

Cadwalladr Facing £1,500 Fine for Late Filing

Hyggelig Limited is 100% owned and controlled by Carole Cadwalladr. After six months the fine for late filing of company accounts goes up to £1,500. If we were to follow her style of journalism we would now be demanding a police investigation, reporting her to some regulatory body* or something. Screaming down the phone at her for not answering questions. Maybe she should take a break from her conspiracies and just file her accounts…

*Who can forget the time she reported Michael Gove to the Parliamentary Standards Commissioner because he allegedly leaked her questions to Guido.

Boris Hits Out At Bannon Conspiracy Codswallop

On LBC this morning Boris hit out at a “codswallop” story alleging he is somehow taking advice from Steve Bannon, who he hasn’t met since he met the then Chief of Staff to the President of the USA on an official visit as Foreign Secretary. The much reported ‘texting’ later on was just Bannon trying and failing to secure another meeting…

“This is the biggest load of codswallop I have ever heard.”

Carole is basically the Bannon of the left, churning out whatever she likes without regards for basic facts while her fanatical online following pile in with the retweets…

Banks Suing Cadwalladr Over Russian Money Claims

Arron Banks has finally had enough of the codswallop. He is suing Carole Cadwalladr for defamation on two grounds; she claimed in a speech (above) to The Convention two weeks ago that “We know the Russian Government offered money to Arron Banks.”

Secondly, in the Ted Talk above she said “And I’m not even going to go into the lies that Arron Banks has told about his covert relationship with the Russian Government.”

Banks says he took no money and he has no covert relationship. Now he is going to sue her to prove it or pay up…

Clegg: ‘Absolutely No Evidence’ Russia Influenced Brexit

Carole Cadwalladr and David Lammy have been spluttering furiously into their cornflakes all morning after Nick Clegg told the Today Programme that there was “absolutely no evidence” that Russia or Cambridge Analytica influenced Brexit. Clegg said “we have a duty to explain fact from some of the allegations that have been made”. Clearly not a duty that Carole has ever felt bound by herself

“Much though I understand why people want to reduce that eruption in British politics to some kind of plot or conspiracy, some use of new social media through opaque means, I’m afraid the roots to British euroscepticism go very, very deep…”

Never mind the fact that the official report from the Information Commissioner’s Office already crushed all of Carole’s grand conspiracies about Facebook, Cambridge Analytica and Brexit, raising questions about her pet whistleblower Chris Wylie instead. Clegg hasn’t triggered anyone this badly since tuition fees…

If she wants to start addressing disinformation on social media she could start with her own Observer ‘scoop’ over the weekend in which she deliberately mistranscribes a video of Steve Bannon talking about Boris. Bannon says “we went back and forth over text”, instead Carole transcribes this as “back and forth over the text” which then forms the crux of her story. The same people who’d be the first to say Bannon is a pathological liar are now taking an entirely unsubstantiated boast from him as the gospel truth before distorting it even further themselves…

Carole’s Obsession

Carole Cadwalladr is tweeting about Guido’s lawyer having another client, Cambridge Analytica. This is evidence of something she has yet to explain. She goes on

“Guido’s obsession with me … has been out of all proportion. So what, right? It’s just a poisonous right-wing blog. Who cares? Except, it’s not. It’s a cornerstone of the right-wing propaganda machine that dresses up disinformation as “journalism”

We’re not the ones who have had to make endless corrections on this subject though are we, Carole?

As for being obsessed, a quick scroll though a few months tweets form Carole and you’ll see who is obsessed. Next time she wants to injunct Channel 4, Guido recommends she use Donal Blaney’s firm, he tends to win…

Carole’s Bitter BAFTA Barb at Channel 4

Channel 4 execs were busy celebrating their BAFTA victory last night for their Cambridge Analytica exposé, despite mysteriously failing to put any real scrutiny on the key person at the heart of it all. Sadly one person who wasn’t sharing the love was Pulitzer-nominated journalist Carole Cadwalladr, who bitterly complained:

“Its fine, lads. You take the BAFTA. I’ll take the abuse.”

Who knew that making legal threats and trying to use data protection laws against your own collaborators isn’t good for your working relationships?

At least Carole doesn’t have to commiserate on her own, famously successful Twitter lawyer Jolyon Maugham cruelly suffered yet another defeat at the hands of the law last Friday as a judge threw out his final attempt to stop the UK having enough medicines in the event of no deal Brexit. Poor old Carole and Jolyon just can’t get a break…

Carole Uncovers Shocking New Arron BankSki Plot

Carole Cadwalladr has uncovered one of her most sensational conspiracies yet – this time Arron Banks and Andy Wigmore have apparently used a ski trip to the Italian Alps as cover for a secret plot to convince the Italian ‘fascist’ government to block an extension of Article 50. Pulitzer-level stuff…

Carole uses all of her award-winning investigative skills to piece together a number of crucial clues which reveal the inescapable truth. Incredibly, Wigmore turned his Twitter GPS-locator off for 24 hours after he got to Venice last week. A sure sign of guilty behaviour.

Even more shockingly, Banks and Wigmore decided to go skiing in Cortina, when Wigmore already owns a chalet in Wengen. The evidence is incontrovertible.

Meanwhile, Agent Farage has been busy implementing the other half of the top-secret plan – which is now “in plain sight” – by making speeches in the European Parliament calling for EU leaders to block any extension to Article 50. Thankfully serious political heavyweights like the SNP’s Justice Spokeswoman Joanna Cherry QC have ridden to the rescue to help foil the egregious plot. Phew!

By coincidence it was Banks’ insurance firm’s corporate ski jolly last week. Salvini must have been delighted to be invited along…

Carole Forced to Apologise After Being Widely Mocked by Irish Journalists

Carole Cadwalladr’s latest ‘explosive’ exposé on the cosy relationship between Facebook and the Irish Government hasn’t had the quite the reaction she was hoping for after she managed to insult the more or less the entire Irish media with this blithely condescending tweet:

As countless Irish journalists quickly pointed out, they had already paid plenty of attention to the story when it was first reported. Almost two years ago

Carole eventually posted a series of non-apologies this morning, going for the ‘my grossly patronising tweet wasn’t really meant to cause offence’ approach. Are there any other journalists she’s managed not to fall out with yet?

Cambridge Analytica ‘Whistleblower’ Wylie Gets ‘Ethical’ New Data-Targeting Job

There was some surprising news from the world of fashion last week, with H&M announcing that they would be hiring Cambridge Analytica ‘whistleblower’ Chris Wylie to use data analytics and “sustainable and ethical” artificial intelligence to help them target potential customers. Guido thought he would do H&M the favour of reminding them about some of Wylie’s previous corporate engagements, to let them decide for themselves just how “ethical” they were…

Guido readers will be remember how Chris Wylie founded his own Cambridge Analytica spin-off, Eunoia Technologies, after acrimoniously parting ways with them. Eunoia then made failed pitches offering the same sort of illicit data targeting, to everyone from Britain Stronger in Europe to Donald Trump, until he finally found a client in Justin Trudeau’s Liberal Party in Canada, trousering a handsome C$100,000. Despite telling Damian Collins he had no clients…

The gaping hole in the narrative of Wylie’s Damascene conversion from “evil” data genius to righteous moral hero is the four-year gap between Wylie leaving Cambridge Analytica and finally deciding to blow the whistle on them, in which time he was happily carrying on with the same activities himself. Surely it had nothing to do with saving his own skin with a highly aggressive journalist hunting him down?

Even Damian Collins found enough time between grandstanding and amplifying Carole’s columns to put Wylie on the spot over this when he questioned him last year. If Wylie felt so strongly about the wrongdoing, why did he wait so long to expose it?

Wylie’s answers to Collins were a veritable cocktail of lies and misinformation:

  • Wylie told Collins that he hadn’t blown the whistle sooner because he “didn’t appreciate the future impact” of his work at the time as well as claiming that he did “not think military-style information operations is conducive for any democratic process”.
  • This is a bare-faced lie: in 2013 Wylie explicitly said his goal was to create the “NSA’s wet dream” and openly admitted he wanted to profit out of using the data for “evil” as “evil pays more”:

Our goal is first to make it an extremely profitable company. Then we will cleanse our souls with other projects, like using the data for good rather than evil. But evil pays more.”

  • Wylie even told Collins that Donald Trump’s election had made it “click in [his] head” about the wider impact of what he was doing. Another shameless lie given his own company’s attempts to sell voter-targeting services to Trump’s campaign…

Wylie also tried to use the excuse that Cambridge Analytica had come after him with a “very aggressive team of lawyers” and forced him to sign an undertaking of confidentiality. This is a highly distorted account of what actually happened:

  • According to the independent report into Cambridge Analytica by Julian Malins QC, CA’s lawyers did write to Wylie and his company, Eunoia, “regarding suspected breaches of covenants on intellectual property, client solicitation, staff solicitation and non-competition”.
  • CA found out after one of their existing US political clients tipped them off that they had received a proposal from Eunoia “which purported to deliver exactly the same services as SCL [CA’s parent company]”.

So CA did come after Wylie with lawyers after he left – not to try to hush him up but because he had started his own company in direct competition with them. And was attempting to poach their existing clients using their own intellectual property…

  • Wylie was forced to settle the prospective action in 2015 “by providing very wide ranging written undertakings to SCL… that, in summary, he would not use SCL’s intellectual property and other commercial or confidential material (obtained whilst working with SCL) in the course of his own business enterprise.”
  • As the Malins Report notes, his own business flopped after this: “Wylie was not then and has not been subsequently successful in forming and running a business competing with SCL/CA. Eunoia fell dormant and was subsequently struck off the company register.” Good of H&M to give him another go…

Wylie’s story suddenly starts to look less like a tale of redemption and more like a story of revenge. Carole’s appearance gave him the perfect opportunity to stick the knife into his former employers who had forced him out of business. While simultaneously covering up his own fundamental role in the scandal:

  • Right at the outset, Wylie introduced Cambridge Analytica to Dr Aleksandr Kogan, the academic who developed the original Facebook data-harvesting app.
  • He then worked directly with Kogan to turn it into the app at the heart of the Cambridge Analytica scandal.
  • Wylie left Cambridge Analytica, took the illegally-obtained data with him, and launched his own company trying to steal their clients.
  • He unsuccessfully tried to pitch the same illicit voter-targeting services to a range of clients including Trump, Vote Leave and Britain Stronger in Europe.
  • His company flopped after Cambridge Analytica forced him to stop using the intellectual property he stole from them.
  • Years later he finally turned whistleblower after being relentlessly pursued by Carole Cadwalladr for months.
  • Now he goes round the world doing media interviews and giving speeches about how he exposed the wrongdoing – which would probably never have happened in the first place without his involvement – while getting the chance to wipe his slate clean with a plushy job in industry.

And he’s meant to be the good guy in all of this?

Carole Cadwalladr writes…

Carole Cadwalladr writes…

“I’m not a ranting lunatic. I’m a journalist.”

Carole Forgets What Year It Is

The Observer’s Conspiracist-in-Chief Carole Cadwalladr went along to Jeremy Corbyn’s advice surgery last Friday to ask about electoral fraud and foreign interference. Or was that a year ago..?

Carole’s confusion with the date could explain why the accounts for her company, Hyggelig Limited are so overdue.[…] Read the rest

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