Currency trader learns hard lesson
So that's what you call 'a global expert in currency risk management': an outfit that takes four days to implode from a market value of £52 million to a £3 million rescue takeover. And all, apparently, because of Donald Trump.
What is this company, you ask? The Aim-listed Argentex, the self-styled 'debt-free, cash-rich business', operating as a 'riskless principal broker for non-speculative commercial currency transactions'. Do note 'cash-rich' and 'riskless'.
Despite such claims all over its comedy website, it has wound up skint: news that appears to have been as big a shock to the useless board, chaired by the ex-Camelot UK lottery chief Nigel Railton, as to its luckless shareholders.
Here's the short version of events, as relayed in a series of gruesome updates
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