The Evil Diaries: Wirecard and Billing Services

Apparently, Wirecard (WDI on Frankfurt) recruited to head their Far Eastern operations one Robert Frank Lock who spent time at the Bangkok Hilton having dealt in heroin. The allusion to the Bangkok Hilton refers to Bangkok’s principal jail, Bang Kwang. This is an odd background for recruitment purposes. Check it out yourself on Youtube.

They recruited Robert Frank Lock in 2009, after he left the Bangkok Hilton for heroin dealing. I think he “officially” left Wirecard in 2014. But still “partners” with them.

He was also a director of a business which was sold to Wircard for €12.8 Million, which was then sold back to the original owners a few years later for €4.2 Million.

You would be pressed to make this up.

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Family Cawkwell have held Billing Services (BILL) since long before the flood and had written it off. But the debt got paid down and, now, no longer exists. On top of which this morning’s news is that BILL have settled with the Federal Trade Commission in the sum of $5.2m payable in ten equal quarterly instalments – or well within BILL’s cash flow capabilities. Indeed, even though I am not sure of the taxation treatment of this debit or whether it has been provided for in the accounts, it is well within profit capabilities and makes me think that BILL is in effect trading at below tnav on a PE of perhaps of 6 at most. Possibly a lot less. Anyway, I rushed out and bought 250,000 at 4.25p. I am not sure that the 6p now offered is too high.