Cartel Declares Bankrupcy

https://www.thegazette.co.uk/notice/2772079

Don

"Currently not working..."

This is where having multiple personalities may come in handy ...

Most are going on the dole, but I hear a couple have a shot at being hired as VPs for ebay Customer Service.

I don't believe this is the first time he has gone bankrupt. The last time he made a case to keep his personal perforating machine (wonder why he needed one ) and other tangible assets.

Is it probable that he will turn in his stamps? Who knows what he has and where.

Likely he will return.

Given how this operation works on ebay, I would not be surprised to see some of the "inventory" moved to another location until bankruptcy if done.

These aren't the assets of a standard business - I suspect that the stamps will not be going to his creditors.

Still 1000s of items on ebay at the moment. Will be interesting to watch.

Perhaps Stanley Gibbons could use a "few good men" to get their stamp division back on track.

After the bankruptcy filing, only a fool would buy anything from one of Ryle's accounts. He'll get the money and you might never get the stamp.

I have it on good authority that Ryle is now based in Belfast and primarily Sicily where he has filled a vacancy in the 'Ndràngheta crime syndicate. I guess he will sell stamps to launder their drugs money and anything else but you can be sure he will continue to have some top quality merchandise for sale.

Hello Mosha/Philip. Get a job.

More news
https://www.insolvencydirect.bis.go...ber=08259739

Don

He appropriated over $1 million in a 1 year period Surely not all from ebay sales?

Hi Jenny,
He has a website too but no point in publishing the link. He clearly has been playing 'corporate' bookkeeping games, no telling how he might have generated income. A forensic accountant would probably be needed to unravel the mess.

Here is my opinion...
As someone else mentioned, this will not slow him down. He is a convicted felon that has previously built prison time and has been deported from several countries over a thirty year period. ebay does not care (they have closed him down 3 other times only to have him pop back up) and even the British authorities seem mostly interested in chasing him only for their taxes. Philately and consumers are left with 'buyer beware' while the swindles, fraud, and deception continue to fester like an infected wound.

Where is the philatelic press? Why do they not cover any of this? It is like they don't want to even mention the dark, seedy underbelly of our hobby. Is the theory 'if we just ignore it...it will go away'?
Don

The philatelic press tends to not to want mention that much since it gives others a bad name and may hurt them. Let's say there is just not going for the full story.