Brexit mogul Christopher Harborne is still waiting on the £34m loan (+ interest) he pumped into failed FX brokerage Argentex. Story via @bloomberg.com
www.bloomberg.com/news/articles/2025-09-16/argentex-leaves-harborne-s-ifx-waiting-over-34-million-loans

Latest on failed trade-fin firm Stenn: UK accounting watchdog is probing multiple audits of its finances by Deloitte, Azets; administrators say they've only got $100m of $1.1b invoices outstanding.

www.bloomberg.com/news/articles/2025-07-10/deloitte-azets-audits-of-fintech-stenn-investigated-by-uk

Update on this bizarre story: Finra has permanently banned an ex-Jefferies wealth adviser in Miami after he refused to cooperate with the watchdog's investigation. Story via @bloomberg.com.

www.bloomberg.com/news/articles/2025-07-09/jefferies-miami-wealth-adviser-banned-from-industry-amid-probe

Covered also in today’s Money Stuff…

www.bloomberg.com/opinion/newsletters/2025-04-28/argentex-got-some-margin-calls

Stenn collapsed in December and much remains unknown. But one question looms large: how did some of the world's biggest banks and investors miss the warning sights?

Our search for Stenn's biggest suppliers, meanwhile, led us to a series of tiny, troubling companies across Asia, including 1 sanctioned for enabling payments to Russian military intelligence. Other supposedly large suppliers were based in a derelict Prague building.

Wall Street banks thought Stenn was a $1 billion trade-fin powerhouse, matching suppliers and buyers of goods. But when @bloomberg.com reporters tracked down dozens of supposed buyers around the world, most of them had never heard of Stenn.

Every week during the years before its collapse, Stenn sent granular emails to its Wall Street backers listing its biggest clients, line by line. Yet all was not as it seemed...

www.bloomberg.com/news/features/2025-04-23/stenn-collapse-how-citigroup-bnp-paribas-missed-fintech-s-warning-signs

Cybereason CEO has quit following months-long feud with investors Vision Fund, Steven Mnuchin, that’s stalled decision-making at the cash-strapped startup. Story w/Min Jeong Lee.

www.bloomberg.com/news/articles/2025-03-05/softbank-backed-cybereason-ceo-resigns-after-boardroom-turmoil

A Nomura exit would be just 18 mos after the bank arranged $500m loan for now-notorious FRG deal. B. Riley shares have since lost most of their value while it's also grappling with SEC probes.

www.bloomberg.com/news/articles/2024-08-20/b-riley-s-rout-forces-reckoning-for-a-founder-s-labor-of-love