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back to article Carphone co-founder quits over secret share pledge

The co-founder of Carphone Warehouse, David Ross, has resigned, after failing to notify the board that he used his shares in the company to underwrite personal loans. The company discovered yesterday that Ross had used a stake of 136.4 million shares in the company to secure personal loans. He has 160 million in total, a …

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Happy

Q: What's two plus two

Q: What's two plus two?

Accountant: who wants to know?

Q: What have you got if there are two hundred chartered accountants at the bottom of the sea?

A: A good start.

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The Curse of Boris

Can't Boris hire anyone but his loaded crooked mates?

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@Stef

You assume that Boris Johnson knew about this. Where's your proof? If you don't have any, don't make statements that make you look like a fool.

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Paris Hilton

WTF....

He didn't just use his Carphone Whorehouse shares either...

WTF did he need to borrow over 100 million in personal loans for anyway?

Paying off Dr Evil perhaps? Or a shark mounted frickin laser beam development program?

Paris, I doubt even she needs that much personal credit!

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Happy

Re: Q: What's two plus two?

Damn, I thought it was

"What would you like it to be"

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Did you hear about the dodgy accountant ?

He's now got phorm.

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Coat

Who wants to know (etc)

Man to accountant: What's two plus two?

Accountant: Who wants to know?

Man to accountant: A very rich man

Accountant: What would you like it to be?

According to reports elsewhere, Mr Ross is a director of various companies, not just the lovely CPW, and he's had the same "misunderstanding" at several of them, ie forgetting his director's obligation to declare that he has potentially lost control over his share of the company, by using the shares as security for other bits of financial jiggerypokery.

I hope the accountants professional body are looking to have him struck off. Nothing less would suffice as punishment for this ghastly misdeed, which besmirches the reputation of all the proper qualified honest accountants out there (all three of them).

Boris really knows how to pick his mates, doesn't he.

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£100 million in borrowing?

What was he doing, paying off an Ocean Finance loan?

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