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Shell reserves fraudster Rev Sir Philip Watts

Screen Shot 2013-02-08 at 22.07.58By John Donovan

An article published today by the Maidenhead Advertiser says the Rev Sir Philip Watts is taking up a new position as Priest in Charge of the Benefice of Waltham St Lawrence. He is still protesting his innocence in relation to the Shell reserves fraud and cover-up that resulted in him being forced to resign as Group Chairman of the Royal Dutch Shell Group. Sir Phil forgets to mention the $150 million worth of fines imposed on Shell by the US and UK financial regulators, the class action lawsuits that were settled and the overwhelming incriminating evidence against him, including internal emails.  When will he being suing for defamation all of the newspapers that have published articles correctly accusing him of cheating Shell shareholders? He was a fraudster then and remains a fraudster now, this time deceiving his flock, not investors.


Daily Express: FAT CATS REWARD: SIR PHILIP Watts: His deputy, Dutchman Walter van der Vijver, repeatedly warned him of the overstatement and finally exploded in an angry e-mail last November that he was “sick and tired of lying about the extent of our reserves”.

The Daily Telegraph: Watts knew ‘two years ago’ of Shell’s inflated reserves Shell’s Watts was fired face to face, escorted away

London Evening Standard: SHAMED “Shell chairman Sir Philip Watts has secured a pay-off worth more than £1m in cash plus stock options potentially worth £6m more”

The Independent: Shell’s road to redemption remains a long one: “An extradition battle involving Shell’s former chairman Sir Phil Watts would provide splendid entertainment but it would also guarantee plenty more bad headlines”

The Sunday Telegraph: Shell gives Watts a £1m golden farewell

Daily Telegraph: Watts’ pension pot tops £10m

Daily Mail: Heat is on Watts after Shell shock

The Independent: Philip Watts to quit early as chairman of Shell

The Sunday Telegraph: Shell investors reject Watts’ explanation

The Sunday Telegraph: When will Watts come out of his shell?

The Observer: First get rid of Watts, say Shell investors

The Independent: D-Day beckons for Shell chief Watts

The Independent: Shell shocked Watts determined to stay on. Will City let him?

The Sunday Telegraph: What Watts must do to avoid ejection from Shell

The Independent: Shell chief fails to clear air over ousting of Watts

Financial Times: Shell lost confidence in Watts, says new chairman

The Independent: Watts may lose his Shell pension

The Observer: UK firms face lawsuits as Watts quits ICC post

Mail on Sunday: Shell chief Watts ‘had a private army’

Daily Mail: Rumours of Watts departure lifts Shell

The Times: Watts to take Shell reserves rap

The Independent: Watts braced for further controversy in Shell reserves row Shell gives Watts a £1m farewell

The Herald: Watts walks off with £1m at Shell Shell Pays Former Chairman Philip Watts Nearly $2 Million in Lump Sum Severance Payment Shell says Watts pay-off does not rule out legal action

Financial Times: Shell in more controversy with Watts pay-off

The Guardian: Shell’s £1m goodbye for ousted Watts

Houston Chronicle: Shell pays $2 million to Watts: Reserves report forced departure of ex-chairman

The Independent: Investors lambast Shell over ousted chairman’s £1m pay-off: “the £1.06m pay-off for Sir Philip Watts proved that, even under new leadership, the company was still living in “a parallel universe”

The Sunday Times: Business on the Box: Shell Shock. BBC 2. Thursday, 9.50pm. Reporters track down the oil giant’s ex-chairman, Sir Philip Watts, to quiz him over Shell’s reserves crisis.

Financial Director: The incriminating 2002 Form 20F Sarbanes-Oxley certificates signed separately by Jeroen van der Veer, Sir Philip Watts and Judy Boynton.

The Times: Lifers who climb right to the top: “A less edifying example of the breed is Sir Philip Watts, chairman of Shell, who was forced to resign after the group admitted to misrepresenting oil and gas reserves.”

Financial Times: Former Shell chief challenges regulator’s censure: “The FSA violated my statutory rights to review and rebut the allegations contained in their recently published Final Notice against Shell, because I was both identified and prejudiced by the publication,” Watts said in a statement.” Former Shell Chairman Appeals Censure: “The Financial Services Authority’s final notice, issued on Aug. 24, said Shell had made false or misleading announcements in relation to its hydrocarbon reserves and reserves replacement ratios between 1998 and 2003, and had made those announcements despite indications and warnings that they were false.”

London Evening Standard: Shamed Shell chief hits back: “The move is a bolt from the blue from Shell’s former chairman, ousted in disgrace in March over the scandal that has led to the worst year in the group’s history.”

Daily Telegraph: The week in which a watchdog came under a heavy Shelling: “Sir Philip Watts is hardly going to enjoy being linked with Robert Maxwell but he probably owes the fat fraudster rather more than he realises.”

BBC News: FSA inquiry clears ex-Shell boss: The regulator said on Wednesday it would take “no further action” against any individuals

The Independent: Outlook: Sir Phil Watts: If Sir Phil’s not to blame, who on earth is?”

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