Mike Baghdady - should I take a course or not?
- Thread starter Digbyarbuthnot
- Start date
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Here you go, looks like if lots of people start googling it again it might reappear. Not that I would suggest such a thing.
http://productforums.google.com/forum/m/#!topic/websearch/8A-wzlg91vQ
http://productforums.google.com/forum/m/#!topic/websearch/8A-wzlg91vQ
That's not even a sentence.
This guy went Bankrupt in 2010 - He made no income from trading and made all income through selling courses - This guy can not trade - Would you want to learn how to trade from a bankrupt ?
http://bankrupt.com/misc/nyeb10-45547.pdf
http://bankrupt.com/misc/nyeb10-45547.pdf
Sorry just read the rest of this post and this point has been made multiple times.. worth repeating all the same!
Well I've read a few pages on this thread, and just playing devils advocate it appears, what started out to be Digbyarbuthnot's concern was whether to take the course or not, but then as I read more and more it seems he knows a lot more about the company than someone who would be interested about a course, but more of an insider(an ex-employee "maybe" with an axe to grind), however at least with this thread and the contributions of pboyles I am more inclined to believe that all is not what it seems.
But may I ask a simple question from people who have actually taken the course on what their opinions were, so we can all get a constructive view, and may I add that we should let these people have a say without the auction mentality of everyone jumping on the band wagon and calling them liars etc.
P.S. May I also ask what is the difference between Shagdadies course charging £5k, and K2A charging £20k, as I'm sure newbies reading this may think paying £20k may be a better option, rather than trawling through this forum, and others and getting much better information fro free.
Eg. A really good start being reading James16's thread...
http://www.forexfactory.com/showthread.php?t=2331
Best
John.
But may I ask a simple question from people who have actually taken the course on what their opinions were, so we can all get a constructive view, and may I add that we should let these people have a say without the auction mentality of everyone jumping on the band wagon and calling them liars etc.
P.S. May I also ask what is the difference between Shagdadies course charging £5k, and K2A charging £20k, as I'm sure newbies reading this may think paying £20k may be a better option, rather than trawling through this forum, and others and getting much better information fro free.
Eg. A really good start being reading James16's thread...
http://www.forexfactory.com/showthread.php?t=2331
Best
John.
L
Liquid validity
Taking the course offered by a bankrupt seems a bit like getting a struck off
doctor to perform surgery, or a banned / unregistered gas engineer to fit a boiler.
Does it make any sense to you?
If his course had any worth, he would have put it into action himself,
traded it and would never have been bankrupt in the first place.
It makes perfect sense.
Unlike your reading abilities, as you would have read where I did state "all is not what it seems"
:whistling
P.S. May I ask you what courses you took, as you seem to be the absolute final authority on everything I contribute, and with your wealth of knowledge maybe you could steer newbies in the right direction.
Were you a programmer for a multi-million pound hedgefund aswell, or how about George Soros's protégé.
Best
John.
L
Liquid validity
It makes perfect sense.
Unlike your reading abilities, as you would have read where I did state "all is not what it seems"
:whistling
P.S. May I ask you what courses you took, as you seem to be the absolute final authority on everything I contribute, and with your wealth of knowledge maybe you could steer newbies in the right direction.
Were you a programmer for a multi-million pound hedgefund aswell, or how about George Soros's protégé.
Best
John.
Sadly I can't compete with what you've been taught by your bank of England trader mate:
http://www.trade2win.com/boards/psy...chological-emotional-burnout.html#post2185850
Yet here you are asking about this course
Excellent lulz.
Sadly I can't compete with what you've been taught by your bank of England trader mate:
http://www.trade2win.com/boards/psy...chological-emotional-burnout.html#post2185850
Yet here you are asking about this course
Excellent lulz.
I sincerely hope your reading/quoting skills are not as good as your trading skills, because if they are, obviously your trading is not very good. You seem to read a sentence and latch onto it, just like when you trade you probably latch onto something short-term, and misconstrue the overall sentiment, thus having too many losing trades.... Food for thought maybe.
Ofcourse I asked about this course, and how it compares to K2a, but you didn't read that bit did you.
"I can't compete with what you've been taught by your bank of England trader mate".. Of this I am 100% sure. How about we both start trading journals with live calls and see how well each one of us does, or don't you have the balls to put your edge for all to see in case you end up looking like a bigger fool.
Best
John.
L
Liquid validity
I sincerely hope your reading/quoting skills are not as good as your trading skills, because if they are, obviously your trading is not very good. You seem to read a sentence and latch onto it, just like when you trade you probably latch onto something short-term, and misconstrue the overall sentiment, thus having too many losing trades.... Food for thought maybe.
Ofcourse I asked about this course, and how it compares to K2a, but you didn't read that bit did you.
"I can't compete with what you've been taught by your bank of England trader mate".. Of this I am 100% sure. How about we both start trading journals with live calls and see how well each one of us does, or don't you have the balls to put your edge for all to see in case you end up looking like a bigger fool.
Best
John.
Who cares how it compares.
How can you seriously think there is any worth here.
No I'm not interested in your d1ck swinging competition either.
One of us is better than the other, if thats you, fine, doesn't make an ounce
of difference to me.
You are the one with something to prove, not me, so carry on
-_cerberus_-
Junior member
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One year on, and despite having been given *EVERY* opportunity to clear his debts of over £675,418.73 in London, Mike Baghdady continues to evade and elude a small army of creditors - including the British Government, which let him into the country in the first place.
Despite some of the more light-hearted banter that has gone on, on this thread, about Mike Baghdady since the truth about him was discovered, it is below that anyone can see the actual evidence of his behaviour in the UK and some of the people and organisations that he continues to owe money to.
These are just the individuals and organisations who actually registered as creditors (there are many others who he owes money to who did not complete this procedure, so their names and debt amounts are unknown, as is Mike Baghdady's total overall debt)...
------------
CREDITORS' REPORT
I confirm my attendance at the meeting of creditors of the Company pursuant to s.98 of the Insolvency Act 1986 at 3.30pm at the offices of OWG Corporate Recovery, 41 Skylines Village, Docklands, London E14 9TS on 28 September 2012.
I would report as follows:
Attendance
The director, Mr Mahmoud Baghdady, attended the meeting by use of SKYPE and was located in the United States of America at the time of the meeting.
He was identified by Ms Kelly, as the director and Ms Kelly as Liquidator (appointed by a general meeting of shareholders earlier in the day was also in attendance).
No other creditors were present in person at the meeting.
Report to the Meeting and Conduct of the Meeting
I enclose a copy of the report presented to the meeting and I confirm that I personally examined the statement of affairs signed by the director on 27 September 2012 which reflected the figures contained in the report.
The meeting of creditors was advertised in the London Gazette on 21 September 2012.
On 12 September 2012 the director decided to convene a meeting of creditors and notices were despatched on 18 September 2012.
I will specifically comment on the contents of the report and questions that I raised at the meeting:
• The Company ceased trading in May 2012. Further to information that I had received via yourself in respect of the continued trading, I asked specifically about the position in this regard. I was advised that [email protected] was a separate trading entity unconnected with the Company.
• The Company employed 5 employees and turnover rose from £128,000 to £532,000 over 5 years.
• At the end of 2010 the Company selected 15 people to train as proficient market traders in a project known as “The New Turtle Traders Programme”.
• A £100,000 credit line for this programme was provided by the director personally.
Assets
• The uncertainty of the book value was queried and this was explained to be because the Landlord has distrained over the assets and as access cannot be obtained, the director is uncertain as to what assets still remain in the Company.
• The position is similar with the rent deposit and the Liquidator will investigate the position in respect of both categories of assets.
• The book debt is believed to be realisable from one individual debtor whose identity was not revealed. The position of the book debts reflected in the balance sheet was queried and I was advised that these had been collected over the trading period.
Creditors
Secured Finance Creditor
RBS are the only finance creditor and they finance the IT equipment.
Unsecured Creditors
• The director stated that he has never drawn any remuneration from the Company.
• The director’s loan account claimed in the liquidation was queried and I examined his proof of debt form which was broken down as follows:
o Software £192,715.68
o Director’s current account £ 95,615.80
o Director’s current account £126,882.30
o Payment made to Turbervilles on behalf of Company £ 79,117.13
o Injection of funds to Company £ 43,750.00
__________
£538,080.91
• The H M Revenue & Customs liabilities accrued over 3 months for PAYE and from an assessment in respect of corporation tax.
• The trade and expense creditors accrued over the last 6 months.
• The Landlord is alleged to have effected distraint and determination of the lease due to a break in that occurred to the premises and after a “smear” campaign against the director. This apparently occurred during the director’s absence on compassionate leave.
Formal Business of the Meeting
The shareholders at general meeting earlier in the day voted unanimously for the appointment of Angela Kelly of OWG as Liquidator.
The appointment was ratified at the meeting of creditors by the majority of creditors voting by proxy, specifically the director in respect of his proxy valued at £538,081.
As a minimum of 3 creditors are required to form a liquidation committee and I was the only creditor there, no liquidation committee was formed.
The Liquidator was sanctioned to draw a fee of £5,000 plus VAT and disbursements in respect of her fee for convening the meeting of creditors and she will be remunerated on a time cost basis during the conduct of the liquidation.
Investigation
I requested that the Liquidator investigates the conduct of the director with particular emphasis on the following:
• Whether any preference payments were made to creditors,
• Whether there were any assets disposed of prior to liquidation which may form the basis of a transaction at undervalue,
• The Liquidator to investigate the management accounts and results of trading for any irregularities to give rise to wrongful trading or misfeasance.
-------------------------------
CREDITORS
-------------------------------
Name of creditor
or claimant
Address
(with postcode)
Amount of debt in £
-
Advertising Production Resources Ltd
Suite 121, The Waterhouse Business Centre, Cromer Way, Chelmsford, Essex CM1 2QE
186.00
Aflex Ltd
Unit 4, The Business Centre, Humber Road, London NW2 6EW
1,322.40
M. A. Baghdady
2nd Floor, New House, 94 New Walk, Leicester LE1 7EA
538,080.91
BT iNet
Spires House, 5700 John Smith Drive, Oxford Business Park, Oxford OX4 2RW
264.13
BT Account VP 00191570
Colindale House SSC, The Hyde, Edgware Road, London NW9 6LB
130.14
BT Private Circuit Account 57602270AC01
81 Newgate Street, London EC1A 7AJ
3,364.90
BT Internet Services Account WM3849 8288
PP2A, Edgeley DAC, 1 Brundrett Street, Stockport SK1 4LW
6,130.00
DHL International (UK) Ltd
178 – 188 Great South West Road, Hounslow, Middlesex TW4 6JS
194.68
EDF Energy
Osprey House, Osprey Road, Sowton Industrial Estate, Exeter EX2 7WN
812.87
Falcon Copiers Plc
3 The Forum, Icknield Way, Tring, Hertfordshire HP23 4JX
1,975.28
FedEx Express
PO Box 11, Coventry, CV1 4QD
19.15
Friutdrop
Unit 3, Voyager Business Estate, Spa Road, Bermondsey, London SE16 4RP
220.00
M Gallop
61 Oak Hill Crescent, Woodford Green IG8 9PR
5,600
Harbottle & Lewis
Hanover House, 14 Hanover Square, London W1S 1HP
2,000
HM Revenue & Customs (PAYE/NIC)
Debt Management & Banking, Caledonian House, Greenmarket, Dundee, DD1 4QX
24,392.38
HM Revenue & Customs (CT)
Debt Management, Debt Technical Office CT, 2 Coed Pella Road, Colwyn Bay LL29 8LP
11,838.21
Jones Brothers
85 Middlesex Street, London E1 7DA
145.80
London Borough of Tower Hamlets
PO Box 429, 62 Roman Road, London E2 0XA
15,540.00
Miragetek Global Resources Ltd
Mirage House, 41 Broadfield Road, London SE6 1ND
7,176.00
MoneyAm Ltd
Thames House, 18 Park Street, London SE1 9ER
1.00
Peninsula Business Services
The Peninsula, 2 Cheetham Hill Road, Manchester M4 4FB
1.00
PK Group
22 The Quadrant, Richmond, Surrey TW9 1BP
6,780.00
Presswire Ltd
C/o Smith Gadd & Co, Courtyard Chambers, 1 The Courtyard, Horsham RH12 1AT
12,862.59
Property Partners Management Ltd
6th Floor, 63 Curzon Street, Mayfair, London W1J 8PD
1.00
Red Box
2 Western Avenue Business Park, Mansfield Road, London W3 0BZ
2,900
The Royal Bank of Scotland Plc
Credit Management Services, Kendal Court, Ironmasters Way, Telford TF3 4DT
12,831.11
Saunders & Dolleymore LLP
9 Rickmansworth Road, Watford WD18 0JU
238.00
T-Mobile
6 Camberwell Way, Doxford, Sunderland SR3 3XN
108.95
Turbervilles Solicitors
Hill House, 118 High Street, Uxbridge, Middlesex UB8 1JT
21,990.94
The Water Delivery Co
Unit 2, 2 Endeavour Way, Dunsford Road, London SW1 8UH
309.29
Total
£675,418.73
----
Despite some of the more light-hearted banter that has gone on, on this thread, about Mike Baghdady since the truth about him was discovered, it is below that anyone can see the actual evidence of his behaviour in the UK and some of the people and organisations that he continues to owe money to.
These are just the individuals and organisations who actually registered as creditors (there are many others who he owes money to who did not complete this procedure, so their names and debt amounts are unknown, as is Mike Baghdady's total overall debt)...
------------
CREDITORS' REPORT
I confirm my attendance at the meeting of creditors of the Company pursuant to s.98 of the Insolvency Act 1986 at 3.30pm at the offices of OWG Corporate Recovery, 41 Skylines Village, Docklands, London E14 9TS on 28 September 2012.
I would report as follows:
Attendance
The director, Mr Mahmoud Baghdady, attended the meeting by use of SKYPE and was located in the United States of America at the time of the meeting.
He was identified by Ms Kelly, as the director and Ms Kelly as Liquidator (appointed by a general meeting of shareholders earlier in the day was also in attendance).
No other creditors were present in person at the meeting.
Report to the Meeting and Conduct of the Meeting
I enclose a copy of the report presented to the meeting and I confirm that I personally examined the statement of affairs signed by the director on 27 September 2012 which reflected the figures contained in the report.
The meeting of creditors was advertised in the London Gazette on 21 September 2012.
On 12 September 2012 the director decided to convene a meeting of creditors and notices were despatched on 18 September 2012.
I will specifically comment on the contents of the report and questions that I raised at the meeting:
• The Company ceased trading in May 2012. Further to information that I had received via yourself in respect of the continued trading, I asked specifically about the position in this regard. I was advised that [email protected] was a separate trading entity unconnected with the Company.
• The Company employed 5 employees and turnover rose from £128,000 to £532,000 over 5 years.
• At the end of 2010 the Company selected 15 people to train as proficient market traders in a project known as “The New Turtle Traders Programme”.
• A £100,000 credit line for this programme was provided by the director personally.
Assets
• The uncertainty of the book value was queried and this was explained to be because the Landlord has distrained over the assets and as access cannot be obtained, the director is uncertain as to what assets still remain in the Company.
• The position is similar with the rent deposit and the Liquidator will investigate the position in respect of both categories of assets.
• The book debt is believed to be realisable from one individual debtor whose identity was not revealed. The position of the book debts reflected in the balance sheet was queried and I was advised that these had been collected over the trading period.
Creditors
Secured Finance Creditor
RBS are the only finance creditor and they finance the IT equipment.
Unsecured Creditors
• The director stated that he has never drawn any remuneration from the Company.
• The director’s loan account claimed in the liquidation was queried and I examined his proof of debt form which was broken down as follows:
o Software £192,715.68
o Director’s current account £ 95,615.80
o Director’s current account £126,882.30
o Payment made to Turbervilles on behalf of Company £ 79,117.13
o Injection of funds to Company £ 43,750.00
__________
£538,080.91
• The H M Revenue & Customs liabilities accrued over 3 months for PAYE and from an assessment in respect of corporation tax.
• The trade and expense creditors accrued over the last 6 months.
• The Landlord is alleged to have effected distraint and determination of the lease due to a break in that occurred to the premises and after a “smear” campaign against the director. This apparently occurred during the director’s absence on compassionate leave.
Formal Business of the Meeting
The shareholders at general meeting earlier in the day voted unanimously for the appointment of Angela Kelly of OWG as Liquidator.
The appointment was ratified at the meeting of creditors by the majority of creditors voting by proxy, specifically the director in respect of his proxy valued at £538,081.
As a minimum of 3 creditors are required to form a liquidation committee and I was the only creditor there, no liquidation committee was formed.
The Liquidator was sanctioned to draw a fee of £5,000 plus VAT and disbursements in respect of her fee for convening the meeting of creditors and she will be remunerated on a time cost basis during the conduct of the liquidation.
Investigation
I requested that the Liquidator investigates the conduct of the director with particular emphasis on the following:
• Whether any preference payments were made to creditors,
• Whether there were any assets disposed of prior to liquidation which may form the basis of a transaction at undervalue,
• The Liquidator to investigate the management accounts and results of trading for any irregularities to give rise to wrongful trading or misfeasance.
-------------------------------
CREDITORS
-------------------------------
Name of creditor
or claimant
Address
(with postcode)
Amount of debt in £
-
Advertising Production Resources Ltd
Suite 121, The Waterhouse Business Centre, Cromer Way, Chelmsford, Essex CM1 2QE
186.00
Aflex Ltd
Unit 4, The Business Centre, Humber Road, London NW2 6EW
1,322.40
M. A. Baghdady
2nd Floor, New House, 94 New Walk, Leicester LE1 7EA
538,080.91
BT iNet
Spires House, 5700 John Smith Drive, Oxford Business Park, Oxford OX4 2RW
264.13
BT Account VP 00191570
Colindale House SSC, The Hyde, Edgware Road, London NW9 6LB
130.14
BT Private Circuit Account 57602270AC01
81 Newgate Street, London EC1A 7AJ
3,364.90
BT Internet Services Account WM3849 8288
PP2A, Edgeley DAC, 1 Brundrett Street, Stockport SK1 4LW
6,130.00
DHL International (UK) Ltd
178 – 188 Great South West Road, Hounslow, Middlesex TW4 6JS
194.68
EDF Energy
Osprey House, Osprey Road, Sowton Industrial Estate, Exeter EX2 7WN
812.87
Falcon Copiers Plc
3 The Forum, Icknield Way, Tring, Hertfordshire HP23 4JX
1,975.28
FedEx Express
PO Box 11, Coventry, CV1 4QD
19.15
Friutdrop
Unit 3, Voyager Business Estate, Spa Road, Bermondsey, London SE16 4RP
220.00
M Gallop
61 Oak Hill Crescent, Woodford Green IG8 9PR
5,600
Harbottle & Lewis
Hanover House, 14 Hanover Square, London W1S 1HP
2,000
HM Revenue & Customs (PAYE/NIC)
Debt Management & Banking, Caledonian House, Greenmarket, Dundee, DD1 4QX
24,392.38
HM Revenue & Customs (CT)
Debt Management, Debt Technical Office CT, 2 Coed Pella Road, Colwyn Bay LL29 8LP
11,838.21
Jones Brothers
85 Middlesex Street, London E1 7DA
145.80
London Borough of Tower Hamlets
PO Box 429, 62 Roman Road, London E2 0XA
15,540.00
Miragetek Global Resources Ltd
Mirage House, 41 Broadfield Road, London SE6 1ND
7,176.00
MoneyAm Ltd
Thames House, 18 Park Street, London SE1 9ER
1.00
Peninsula Business Services
The Peninsula, 2 Cheetham Hill Road, Manchester M4 4FB
1.00
PK Group
22 The Quadrant, Richmond, Surrey TW9 1BP
6,780.00
Presswire Ltd
C/o Smith Gadd & Co, Courtyard Chambers, 1 The Courtyard, Horsham RH12 1AT
12,862.59
Property Partners Management Ltd
6th Floor, 63 Curzon Street, Mayfair, London W1J 8PD
1.00
Red Box
2 Western Avenue Business Park, Mansfield Road, London W3 0BZ
2,900
The Royal Bank of Scotland Plc
Credit Management Services, Kendal Court, Ironmasters Way, Telford TF3 4DT
12,831.11
Saunders & Dolleymore LLP
9 Rickmansworth Road, Watford WD18 0JU
238.00
T-Mobile
6 Camberwell Way, Doxford, Sunderland SR3 3XN
108.95
Turbervilles Solicitors
Hill House, 118 High Street, Uxbridge, Middlesex UB8 1JT
21,990.94
The Water Delivery Co
Unit 2, 2 Endeavour Way, Dunsford Road, London SW1 8UH
309.29
Total
£675,418.73
----
Mr. Charts
Legendary member
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It seems he claims to have sold software worth 192k to his company and that the company didn't pay him. That's how I read it, also it looks like he paid the solicitors and his company didn't reimburse him.
You'd think by now he'd know not to lend himself money.
-_cerberus_-
Junior member
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HMRC seeks to tax overdrawn Directors' Loan accounts via a Section 455 tax charge of 25% of the overdrawn sum - so it could be that as Mike Baghdady appears to have borrowed more money from his company than it was actually making, he owes even more to the country than is detailed above ...
So, then he comes back to the UK, after running away to NYC - keeping a straight face through passport control - and declares himself a lecturer at Oxford uni, leading their own press officer to officially respond that they've never heard of him ...
So, then he comes back to the UK, after running away to NYC - keeping a straight face through passport control - and declares himself a lecturer at Oxford uni, leading their own press officer to officially respond that they've never heard of him ...
thetradingfloors
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Hi check out forextradingfloors in Brentwood
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