The mystery surrounding STephen Lumb, the playboy chairman of ST JAMES HOLDINGS, deepens. He is already facing allegations of being a bad payer of debts, and last week investors in Hanover, a shell company controlled by Lumb, claimed he was a bad businessman, too.
Among complaints at Hanover was the allegation that he had failed to distribute the company’s assets to shareholders as he had STated in public announcements.
There’s little the 7,000 private investors could do. One, who decided to tackle Lumb directly, was threatened with legal action, and told in an e-mail that ST JAMES HOLDINGS would be taking control, so it didn’t matter anyway.
Lumb insists he is being unfairly targeted. He said: “It is success, happiness and huge wealth that counts to me. The jealous, pitiful and unsuccessful unfortunates of this world love to attempt to bring down those they envy, but they’ll never succeed.”