RILY, a company under scrutiny, is facing allegations of over-leveraging, potential counterparty risks, and concealing a $200 million loan to a hedge fund. Concerns about its credibility, business practices, and potential fraudulent activities have been raised by various sources on Twitter, including accusations of running a Ponzi scheme. The company's actions and financial dealings have sparked skepticism and criticism from market observers and analysts.
$RILY is a Ponzi Scheme that is coming apart at the Seams.. Telling Investors that an Asset is worth 390 million and selling it 4 days later for worthless paper(70 million) is the definition of Securities Fraud.. GFLTA @AureliusValue @FriendlyBearSA I am a patient man and their… https://t.co/5SyIPDFdHJ
They dont even get Cash for it so another $10/share hit to $Rily book value.. Plus he lied again at analysts day... @FriendlyBearSA @AureliusValue @WolfpackReports . Its a Ponzi Scheme wrapped in a Fraud.. Give up Bryant https://t.co/LKWc8fM83d
Kahn amassed his controlling FRG stake using Prophecy Ponzi proceeds according to below lawsuit. Highly problematic for $RILY's $200 million loan to Kahn's hedge fund backed by same FRG shares. No wonder $RILY was concealing this by falsely labeling it a "retail/consumer" loan. https://t.co/qX5SH9wItB
No one will want exposure to $RILY and his massive Ponzi Scheme.. Who wants to do business with them or this fellow, Terril Scott Peterson ? @FriendlyBearSA @AureliusValue @WolfpackReports https://t.co/YRJ89RseuM
From someone in the know... YOU DONT NEED TO DO BUSINESS WITH $RILY and Counter Party Risk here is HUGE; "Forgive me if this has been mentioned, but I believe there is huge counter party risk with $RILY. In this cancel-culture and knowing how legal/compliance works, firms look…
$RILY massively overpayed for $FRG in a sale process that made no sense *and* now it turns out that they also lent $200 mm to Kahn to fund a large portion of his equity rollover. My guess is that $FRG likely had what was effectively a large margin loan (that was not disclosed… https://t.co/VJkJMygvYq https://t.co/Tb0BTsnrAe
$RILY could and should be put out of business by their Counterparties in Days.. This is as bad as I have ever seen and I have seen it all... @DonutShorts @FriendlyBearSA @AureliusValue @WolfpackReports This sent to me is SPOT ON; "Sorry I couldn’t connect. The point I was going… https://t.co/dTEtZzs14y
$RILY could and should be put out of business by their Counterparties in Days.. This is as bad as I have ever seen and I have seen it all... @DonutShorts @FriendlyBearSA @AureliusValue @WolfpackReports "Sorry I couldn’t connect. The point I was going to add, and all you guys… https://t.co/GBwQ97L4AW
Timely article from Bloomberg this morning quoting me saying that $RILY is over-levered and can't afford its dividend. Hours later, Bryant Riley says they "have to preserve liquidity" - sounds like a dividend cut to us. @AlderLaneEggs @FriendlyBearSA @AureliusValue… https://t.co/P6OTYSqkFx https://t.co/eHnOOpvZbK
$RILY is losing credibility by the truckload every day https://t.co/WCogz0gMio
So $RILY appears to have been hiding the giant $200 million loan to Kahn's Vintage Capital hedge fund as a "consumer / retail" loan in previous earnings releases. https://t.co/hHEc8M5dxh
Plenty of Fraud to discuss with $RILY today with special guests https://t.co/O8KytUTNsc
SBF, Holmes, Madoff: How They Fooled Investors https://t.co/3fh3CZWo08