Like Kyndryl, Multiple Securities Fraud Investigations Into IBM
Remember what happened to Kyndryl, a container of IBM's "toxic assets" (another one incoming)? Kyndryl came from IBM (same CFO who still cooks IBM's books) and is still managed by IBMers. Kyndryl's books are under the control of Harsh Chugh from IBM. How very telling [1, 2]. IBM wants a "safe pair of hands" on Kyndryl's books.
There's now talk of an "Immediate Talk of ‘Securities Fraud’" in relation to IBM - i.e. a bigger version of Kyndryl.
From the report in question: (emphasis added by us)
Why the Immediate Talk of ‘Securities Fraud’?
By Tuesday afternoon, multiple law firms had announced they were launching investigations into potential securities fraud. The issue seems to center on what the company was telling investors before the announcement. One firm noted that investors may have relied on the company’s “projected Software and Infrastructure segment growth rates and stability.” The implication is that IBM’s previous guidance may have painted a much rosier picture than reality allowed, leading to Tuesday’s brutal correction.
When a company’s narrative shatters this completely in a matter of hours, how can you know what to believe next?
There is also a discussion of IBM's financial state of affairs today. To quote:
Reminder of IBM's debt (to worsen later this month)
IBM's debt grew 5.2 billion dollars in the 3 months leading up to the last report:
https://finbox.com/NYSE:IBM/explorer/total_debt/
R.A. stands for redundant assets, maybe Arvind can sell IBM's trademark and goodwill to raise money.
"IBM goodwill and intangible assets for the quarter ending March 31, 2026 were $89.333B, a 13.86% increase year-over-year."
https://www.macrotrends.net/stocks/charts/IBM/ibm/goodwill-intangible-assets-total
The next Bear Stearns?
With all this contemporary discussion about accounting and fraud I couldn't help but remember this old, full and official document pursued by the firm that's connected to death threats I receive. A decade ago it trying to suppress criticism of the firm (criticism by a former unhappy client on the face of it).
From the final page:
So according to this, a person reported fraud and was then confronted with threats and abuse, then made even poorer by the solicitors (BW), who in turn began sending threats to their own clients. They are currently sued by their own clients [1, 2, 3] (Alla/Vladimir Yanpolsky) and a solicitor recently described them (BW) as "bullies" who engage in "bullying" (probably a story for another, later day).
The world is in a really bad shape if people who expose crime are treated like criminals. █