Previously Crown Corp, CCO. Institutional interest now and the Co has changed it's name for a fresh beginning. Still very speculative, but what isn't? but just a case of investing the huge amount of Cash sitting in a Brazilian bank a/c. There's no real difference here to an emerging markets investment fund apart from the obvious and very attractive discount to NAV of approx 75% !!!!!

dil,

you can suggest what you like...

find out soon enough :-)

I suppose if it wasnt there, then they are taking a long time not finding it??????

How long could it possibly take to confirm it or at least issue a message to shareholders. They must have an idea of where it is and how much exists. It does not take six weeks to work it out. I could have rowed to Brazil and rowed back with it in my holdall in six weeks.

"I suppose if it wasnt there, then they are taking a long time not finding it?????? "

That's odd logic, if it was there, they should issue an RNS saying don't worry everthing is in hand. They haven't. Look at Enron such a complicated set of affairs to shield the fact that nothing existed.

Andyeds , next you'll be telling me its all in coins and its taking a while to count it !

If it were there they would have said so straight away .... if it aint then they need time to cook up a story.

Place your bets.

Read the RNS!

Good call Dil. What is that saying about if something looks too good to be true......

Another case of the small investor being shafted.
I think holders may have to write this one off.
I'm gathering a posse to look for Rybak

Mono

Langbar International Limited
25 November 2005


Langbar International Limited (the 'Company')

On 12 October 2005 trading in the common shares of the Company was suspended on
AIM pending independent verification of certain of the assets of the Company at
a market capitalisation of approximately 87 million. Following the suspension
the Company appointed Kroll Associates UK Limited ('Kroll'), the international
risk consulting firm, to undertake verification of the Company's cash deposits
('the relevant assets') with Banco do Brasil and ABN Amro BV aggregating some
365 million.

365 million of term cash deposits with Banco do Brasil were included in the
unaudited interim financial statements as at 30 June 2005 as investments. On 6
September 2005, it was announced that USD 294 million of the cash deposits had
been transferred to ABN Amro BV.

Kroll has reported to the Board that, following its initial investigations, it
appears likely that the Company has been subject to a serious fraud affecting
the relevant assets. Kroll has not been able to establish the existence of, nor
verify the Company's entitlement to, any of the relevant assets at any time in
the Company's history.

The Board has informed the police and other relevant authorities of the
circumstances and intends to co-operate to the fullest extent practicable in the
pursuit of those responsible for the events which appear to have occurred.
The Board has instructed the Company's lawyers to explore every avenue available
for the recovery of its assets and to pursue vigorously any parties who may have
been involved in unlawful or improper activity in relation to the Company or its
assets. The Directors believe that the Company has sufficient cash reserves to
commence this action. The Board is not, however, able at this stage to give any
meaningful indication of the prospects for success or the likely timing of these
endeavours.

Due to the continuing uncertainties and investigations the Board consider that
for the time being the Company's shares should remain suspended from trading on
AIM.

Subject to any applicable legal restrictions, the Board will, as appropriate,
make further announcements as to the progress of the investigations and the
actions being taken to recover the Company's assets.

25 November 2005

A few people posting on ADVFN have indicated that they have lost 6 figure sums on this. One has lost 250k.

This is another example of a highly ramped stock where any negative views were shouted down. This always looked too good. In theory punters were buying huge assets in a cash shell for hardly anything.

Even Institutions were taken in. It is always a mistake to think that an investment is safe just because there are institutional holdings.

I`d personally like to see Pearson in prison if this doesn`t get sorted out favourably as he is supposed to have done "due dilegence" before taking on his role. What a plonker....like me for believing it ! Obe

I tried to warn people again but again people didn't listen. I don't post for fun about these things!

Sorry for anybody that has been done over on this one, it's disgusting.

Its the fcuking board of this bloody company that need investigating and no one else.

They put out the news that they had the dosh etc which people then acted on , surely they can be sued by the shareholders ???

Those that got stung , take it , learn from it then move on ..... it happens to us all but in this case there are people who should be held accountable.

Do we have an extradition treaty with Monaco ?

And ramping tw*ts like R33Skyline etc don't help things either.

andyeds ... re post 267 : don't call me sunshine you bullsh*tting tw*t !

and for iPubic .... I have not and have never have had any holding in these and warned others to be careful.

Comprendo ???

I see Paul Masterson has covered himself in glory again. How much money can you lose in one year and still get away with ramping?

Its as I said on the YOO thread ... these rampers seldom have any real holdings in the companies and do it for the hell of it.

Its the innocent that get fleeced.

It's very sad.