D ng out the fraudsters
18th February 1988, Page 20
18th February 1988
Page 20
Page 20, 18th February 1988
— D ng out the fraudsters
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• Eurotunnel, the consortium set up to build the Channel Tunnel, wants to follow BP's example by taking legal action against investors whose cheques bounced or were cancelled during the 750 million share issue. The Treasury has set a deadline in an attempt to force 2,000 investors to honour cheques which bounced during the BP issue. Eurotunnel aims to recover £800,000 from any of its defaulting investors.
In normal circumstances, cheating investors would still have made a profit after selling their shares and then honouring their bounced cheques. In the case of the Eurotunnel and BP issues the shares have traded at roughly 30% below offer prices.
Eurotunnel shares were offered at .23.50 and are currently worth £2.50.