Recent discussions surrounding $RILY (B. Riley Financial, Inc.) have intensified, with allegations of financial improprieties and potential fraud coming to light. Critics, including AlderLaneEggs and FriendlyBearSA, have raised concerns over the company's financial statements, insider trading, and the reliability of its investment portfolio. Notably, there are claims that Nomura is involved in fraudulent activities by accepting FRG shares previously pledged, which AlderLaneEggs describes as fraud. Furthermore, there are allegations of an insider trading ring involving $RILY, with speculation about what Jeremy Nowak might know. The situation is compounded by assertions that the company's financials cannot be trusted and that there are more problems on the horizon for $RILY. Additionally, there are accusations that $RILY's loans to Kahn were in payback for the $RCII break fee and questions about the ownership of the FRG stock pledged for those loans. A UCC search revealed Prophecy has a lien on Vintage from 2020, raising further questions about the company's financial dealings. Mike Frank, IR representative for $RILY, has been criticized for his lack of awareness regarding UCC filings and the company's financial situation, particularly involving the UCC in Florida and the Vintage Opportunity Fund. The controversy has sparked a broader discussion about the company's disclosure practices and the reliability of its financial reporting.
$RILY here's the problem Mike Frank has. The UCC he's referencing is on the left hand side. But the 8-K w SEC claims the loan is to "Vintage". The UCC doesn't support his contention, and if Kahn faces a likely forfeiture, he won't have any assets left to service the debt. https://t.co/CX8q5aYRlP https://t.co/i0Vnw8Lgli
An exerpt from my call with Mike Frank, pr flack of $RILY .. He doesnt have a clue and he lied to @business about the @SECGov Investigating them.. If $RILY doesnt like what I am saying, Sue me, my lawyers are standing by.. @AureliusValue @FriendlyBearSA https://t.co/rT8PZBPASk
Long Weekends and Frauds $RILY Edition.. They have all weekend to come up with their plan.. Their IR FLACK is a Former Broker who doesn't know Shit and talked out of his Ass with the "UCC Report" he clearly has not read it and simply is clueless..
If you didn't know about the Kahn loan in November 2023, argued with me that there is no Kahn loan, and you're now claiming to be an expert in UCCs, yes I probably have you blocked. I recommend finding new hobbies. Your beloved stock has illegal disclosure practices. $RILY
Mike Frank needs to produce a UCC showing $RILY is secured against Vintage Opportunity Fund. The only UCC I found is against Brian/Lauren Kahn. Prophecy has an unterminated UCC against Vintage Opportunity Fund with $FRG as collateral... @AlderLaneEggs https://t.co/Ed2v7BUu8B
A follower of mine knows Mike Frank, IR Flack at $RILY "mike frank used to be my coverage guy b4 he began to do their IR. Nice enough guy but pretty useless and probably not the sharpest tool in the shed." He also never read the UCC filings he talked about. @FriendlyBearSA…
Amusing that $RILY is pointing to a UCC in Florida that involves Brian and Lauren Kahn. I wrote about it on November 14, 2023 which prompted the company to disclose the loan publicly to investors. The company hid the loan to Kahn in the 3Q23 10Q. @AlderLaneEggs https://t.co/uRGg3Nd34Q
I just spoke to Mike Frank IR Flack at $RILY ... suffice it so say he has not read or seen the UCC filings. I asked him what I said was inaccurate and got no zero answers. He was civil as was I, but $RILY is a Fraud whose goose is Cooked. @AureliusValue @FriendlyBearSA
$Rily They just buried themselves with this lie ... Just give up guys
Please inform $RILY that a simple UCC search actually shows Prophecy has a lien on Vintage from 2020. Regardless, Kahn allegedly purchased the FRG shares using Ponzi proceeds--documents that emerged yesterday show Prophecy trustee is now litigating with Kahn over FRG stock $RILY https://t.co/Z7le8Yp3Pj https://t.co/ylzmKNmbhd
There are two topics that seem to drive $RILY crazy: 1) That their "loans" to Kahn were payback for the $RCII break fee 2) That Kahn doesn't own the $FRG stock he pledged to them for those "loans" If there is no issue, then why did they hide the loans for years? @AlderLaneEggs
$RILY and @Benzinga do better guys the drunks that own the stock cant even spell UCC you idiots! I have the Fucking UCC filing and $RILY is wrong! @FriendlyBearSA @AureliusValue @StockJabber
To that I say Bullshit and if they dont like what is said simply send lawyer letters out. $RILY @FriendlyBearSA @AureliusValue @StockJabber https://t.co/Yh4LF0Fn08
Lol what is going on here $rily: - “Nothing is double pledged.” from investor relations Mike Frank - Earnings call is “likely last Thursday of the month”. - Investment portfolio sucks but not zero. Surely this has nothing to do with the massive put OI expiring tomorrow? https://t.co/5Qklx20GX7
Just so everyone is aware.. The bankers at @Nomura laugh amongst themselves about $RILY Baby Bonds which they believe are WORTHLESS..
Quite the operation you put together Bryant.. Now you clowns are going to get your Dicks Dragged Thru the Dirt $RILY @FriendlyBearSA @AureliusValue @StockJabber https://t.co/f9Tq9c0tRq
$Rily The engine is about to blow @StockJabber https://t.co/6UBOfRfQml
New @BearCaveEmail just dropped $RILY, check it out on our site CC: @AlderLaneEggs @AureliusValue @WolfpackReports @FriendlyBearSA https://t.co/xAVtFAnOPW
Don't have a dog in the hunt, but the work on $RILY has been exceptional by the short players. @FriendlyBearSA @StockJabber @ParrotCapital @AureliusValue along with Cohodes who blocked me a few months ago. Probably missing a few others.
Next to come is the exposure of an Insider Trading Ring involving $RILY . I wonder what Jeremy Nowak knows about this .. @FriendlyBearSA @AureliusValue @StockJabber
More problems for $Rily https://t.co/H23z4lhsx8
The $RILY Financials Cannot be relied upon IMHO . GFLTA @AureliusValue @FriendlyBearSA @@JonathanWeil @WolfpackReports @SECGov @StockJabber
Hey @Nomura "Nomura is screwed - They are accepting FRG shares previously pledged - That’s fraud" $RILY @FriendlyBearSA @AureliusValue Nomura sure can pick em. https://t.co/9zyHBUz282
This is sort of Game Over for $RILY @FriendlyBearSA @AureliusValue @JonathanWeil $RILY https://t.co/I51weN4Phs
$RILY Thoughts ? FRG & KAHN. https://t.co/Gh7SGCQ39g
Why are $RILY shorts such absolute ❄️❄️❄️? I mean, grow a pair, dude… 🤣🤷♂️🤷♂️🤷♂️ https://t.co/Jx97qSYfQw