Alternative Investment Market controversies
Controversies tied to this brand in public sources. A listing is not a finding of fault.
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2005
Langbar International fraud
Langbar International, admitted to AIM in 2003, was found in 2005 not to possess assets that it had claimed in stock-market announcements were held by Banco do Brasil or being transferred to the company. The case exposed weaknesses in due diligence and the oversight role of the company’s Nomad. Former chief executive Stuart Pearson was later convicted of making misleading statements, imprisoned for 12 months, and disqualified from acting as a company director for five years. The episode contributed to changes in Nomad oversight and subsequent regulatory action.