Drummond is always quick to tell everyone that he has “made a mistake” and that he would have done something differently “in hindsight”, but how does his repeated behaviour of misconduct and negligence distinguish itself from actual and honest mistakes? And how can it be a mistake if the pattern of behaviour is the same?
Gametech was crashed twice by Drummond, and here we are exposing the same behaviour again with Teathers Financial PLC.
You can listen to Drummond, in his own words, giving the very same rhetoric he has been lamenting to the current shareholders and suppliers of GMGT. The very same rhetoric he was lamenting to the previous shareholders and suppliers of Gametech UK when it went into administration in 2017. Can it really just be a coincidence?
“The situation was deliberately engineered so that the company would lose its listing, lose its registration on Companies House, and then simply disappear.”At 21:10 of the audio below.
“I don’t lie. I never lie.” – Jason Drummond, November 2016
C A Sperati PLC was registered in 1907. It was one of the oldest companies listed on Companies House. The company’s business involved the manufacture and distribution of buttons and other apparel.
In 2013, Drummond was approached by former company director Oliver Fattal. Sperati was loss-making and had modest debts, but it had a significant asset in the freehold of its Greenwich factory. Drummond’s plan was to sell off the buttons business and the factory, and then inject Gametech UK into it, which ultimately didn’t happen, for reasons unknown.
Following this, Drummond came up with the idea of turning Sperati into a tech business based on his idea for an investment app, which ultimately saw investors losing millions of pounds.
Sperati became Teathers Financial in 2015.
Drummond was ultimately forced to resign due to his behaviour, and was subsequently heavily criticised by the company’s new directors, who produced the following report:
After the report, the new directors looked at taking legal action against Drummond. They considered a number of areas in which they had a legitimate legal case but ultimately took the commercial decision that they would be unlikely to recover any money because Drummond didn’t have any.
This conclusion of Drummond’s financial position was based on conversations with Doug Barrowman, a shareholder of Gametech UK and husband of Baroness Michelle Mone, who is known for her role in the £200,000,000 PPE scandal exposed by The Guardian in 2022. Barrowman told the directors of Teathers Financial that Drummond “didn’t have a pot to piss in”.
The full legal considerations by Teathers were as follows:
Stay tuned as we bring you more exclusive stories exposing “the real” Jason Drummond! Once again, we advise you NOT to invest in or trust Jason Drummond.
We understand Drummond is currently trying to raise money for a new US company called MediPro.ai Inc, which he registered in Florida in May 2023.
The company is registered at the same luxury apartment from our GMGT story whose lease was terminated several months earlier. How does that work?