Jason Drummond’s Wikipedia page DELETED by Wikipedia admins!

It is with great pleasure in this first full week of February 2024 that we get to announce Jason Drummond’s Wikipedia page of over 10 years has been deleted by Wikipedia admins.

The page, which was central to Drummond’s “credibility”, and the leading force behind his Google search results, was said to have been in violation of multiple Wikipedia core policies. A deletion discussion had the page in review for a full week to open discussions on why it should stay, but nobody gave a compelling enough reason to support the page’s existence. In fact, nobody gave any reason at all in favour of the page, with every response by other editors in favour of the page’s deletion.

Commissioned by Drummond himself in 2013, the Wikipedia page was a myriad of improperly sourced and often completely fabricated claims of Drummond’s past “successes”, reminiscant of a page commenter’s suggestion it was merely “a PR puff piece”. That distinction was clearly supported by the Wikipedia admins, who cited the article as being in breach of Wikipedia’s autobiography and neutrality guidelines, with a strong and obvious conflict of interest, closely resembling a resume, and as having a complete overrliance of primary sources such as share details and company registration pages.

Drummond hasn’t had a formal press article in decades. His last notable article citing any kind of success was over 23 years ago by the Guardian, and his most recent press exposure was extremely negative, citing that Drummond was facing charges in a private prosecution.

Only a few weeks ago we posted about Drummond’s Wikipedia page in our post “Silence the Whistleblowers“, in which we showed that the Wikipedia page was largely edited by Jason Drummond himself, including Drummond posting his own vanity photo.

Despite the authorities taking ZERO action on possible fraud and clear misconduct in Gametech, at least someone out there is trying to make sure that Drummond cannot cause any further losses and damages to unsuspecting victims.

Once again we urge investors NOT to invest in Jason Drummond. His past behavior shows without question that he cannot be trusted to run a business.


Do you have a story you’d like to share regarding Jason Drummond and/or his shady associates? Post it below in the comments anonymously or send it to us for publication via drummondsdownfall@gmail.com.

The Fall of Ashington Innovation

As mentioned in the history of Gaming Technologies (OTC:GMGT), Jason Drummond and Jason Smart, who started the controvesial GMGT venture with Dan Ferris (currently wanted by the FBI for investor fraud), together also started Ashington Innovation PLC (LSE:ASHI).

Jason Smart
Jason Smart
Jason Kingsley Drummond
Daniel Mark Ferris also known as Dan Ferris
Daniel Mark Ferris

Barely 24 hours after jasondrummond.org published the GMGT article, on August 16 2023, Jason Drummond resigned from Ashington.

24 hours after that, Ashington announced suspension of trading. They separately posted a press release stating that Heads of Terms had been signed between Ashington and Cell Therapy Limited, a subsidiary of Celixir, whose website currently only shows a notice referring to the Heads of Terms.

Ashington then posted a press release a few days later stating that they were also listing on the Frankfurt Stock Exchange under the ticker 6FW.

Further Heads of Terms were then announced with Calon Cardio-Technology Limited.

Only a few weeks after the resignation of Drummond, Ashington gave an update on its discussions with Calon and Cell Therapy, within which Ashington stated that “the proposed acquisition of Calon is dependent on a successful close of the Cell Therapy transaction”.

Fastforward to January 24 2024 where Ashington announces termination of the reverse takeover proposal with Cell Therapy, meaning that the acquisition of Calon has also fallen through. Trading was suspended for over five months, and Ashington’s website has been a holding page for the majority of that time.

A screenshot from the company’s website showing the holding page with only a logo.

Between the announcements of Drummond’s “resignation”, timed accordingly with the publication of his misconduct in GMGT, and the announcement of its restoration, Ashington made more board changes, appointed a new auditor, a new Non-Executive Director (NED – Grant Duthie), and issued 1,200,000 shares “to a former Director in lieu of payment for services”.

We can easily calculate that Drummond’s fee entitlement in his contract with Ashington below, of £18,000 per year, would equate to 1,200,000 shares at 1.5 pence (1,200,000 x 0.015 = 18,000). Half the value of his issuance at 3 pence.

So now that we can safely deduct that the 1,200,000 shares went to Drummond, your attention should be drawn to the following:

It is relatively safe to assume that Jason Smart and Jason Drummond are still close, given that they started the IPO of GMGT together. On that note, it is also safe to assume that Drummond is still an “insider” for Ashington, and should probably disclose the sale of any of his shares.

THE SAME DAY that trading was restored to Ashington, on January 25 2024, 500,000 shares were sold at 1.25p to a total value of £6,250, and so we can roughly conclude that the probable sale of a portion of Drummond’s shares has delivered a new market cap of ~£1m… for a main market listed company.

Unannounced events include the termination without notice of Ashington’s counsel David Orchard.

One wonders what a termination without notice actually means, and why such a thing would happen. Was it a material event? Did Orchard uncover some dodgy dealings? Perhaps it didn’t need an announcement, but it certainly stinks nonetheless.

It looks like Drummond is scraping every barrel for pennies now, and so it is strange that he continues his public persona of a man claiming to be “richer than all of the Spice Girls put together” – a dated article by The Guardian from over two decades ago, on which Drummond relies to convince investors of his great success, despite claiming today to those he owes money that he has nothing.

Someone who burns through that kind of money in 24 years would surely fit the profile of someone who takes money from investors to sustain their luxury lifestyle.

Ashington has crashed. Drummond has crashed. The whole shitshow is closing in for a grand finale.

  • Do not give your money to Jason Drummond, who spends company funds on himself.
  • Do not give your money to Jason Smart, who partered up with Dan Ferris to create a group of fake investors to allow GMGT to qualify for OTC.
  • Do not give your money to Dan Ferris, who is wanted by the FBI.
  • Do not give your money to Ron Bauer, who has been sued for investor fraud by the SEC long before he was approached to parttake in the establishment of GMGT by Drummond and Willett.
  • Do not give your money to Oliver Willett, who invested in GMGT despite having “lost money” in Gametech UK.
  • Do not hire Andrew Eggleston as your accountant.
  • Do not hire Steven Plumb as your CFO.

Most importantly, keep your money safe from scammers and follow this blog for further updates as we deliver more reports on Drummond’s shenanigans.


Are you a victim of Jason Drummond? Deliver your story anonymously in the comments below or send us something to publish via drummondsdownfall@gmail.com.

What is Medpal AI?

Drummond has been posting on social media that he was in Davos, Switzerland promoting his new business Medpal AI.

We have already seen that MEDIPRO.AI INC was registered in the US at an address at which Drummond’s lease was already terminated when the registration was filed.

We have now seen that a company connected to Drummond called TOKENOMICS LIMITED has been renamed to MEDPAL AI LIMITED.

Given that all of Jason Drummond’s companies on Companies House are due to be imminently struck off, possibly for tax evasion purposes (in light of Drummond’s history with tax avoidance schemes), it makes sense that he would prefer his brother to be the public face of the company on its register.

Medpal AI’s website boasts “democratizing access to healthcare” and “empowering individuals to make informed decisions about their well-being, irrespective of location or socioeconomic status”.

On further research through Google, one is taken to the website of Pretesh Patel, a newly qualified doctor whose Linked In boasts his credentials as gaining 22kg of lean muscle and overcoming nihilism.

According to Patel, his co-founders include an unknown neurosurgeon from Imperial College London and a serial entrepreneur (Drummond) with a track record of founding more than 10 tech companies. He has obviously omitted the part where he explains what happened to those tech companies and why Drummond is no longer involved in any of them.

Drummond is now back on the road attempting to raise more money from unsuspecting investors.

How many more victims need to lose money before this all comes to an end?

And how can a man who was previously sanctioned by the Gambling Commission really be trusted to run a business handling confidential medical records and personal health care data?

The Bottom Line

Investors should consider whether it is appropriate to to invest in a company whose co-founders alongisde scandalous “entrepreneur” Jason Drummond – deemed unfit to hold a gaming license – are an inexperienced young doctor with a self-reported history of mental disorders, and a secret neurosurgeon who may or may not exist (or who clearly wishes to remain anonymous).


Do you have a story on Drummond for us to publish? Email us: drummondsdownfall@gmail.com.

Silence the Whistleblowers

As we were preparing to release more information on Drummond’s shady history from previous companies under his directorship, we were alerted to the fact that Drummond had made a police report which saw a Gametech whistleblower arrested, but the investigation was later dropped. Did Drummond lie in his allegations? Why were no charges brought?

We understand from several sources that Drummond has previously made similar false allegations to the police when attempting to silence those who speak out against him but the police have never taken any action against Drummond for perverting the course of justice or wasting police time. Why not? Because Drummond has a Wikipedia page that he created himself?

Let’s look at his Wikipedia page’s history ordered by “oldest” first:

As you can see, user “Jason7477” created the page at 10:53 on 22 September 2013, with user “NoSelfPromotion” making the immediate contributions. Both of these users have only ever contributed to Drummond’s page. The immediately following edits were made by user “Jason7477” (whose only edits are also to the Jason Drummond page), and they gradually increase in length.

In the end, Drummond created his own Wikipedia page, which is the first result in Google when investors or anyone else searches for him, making it seem as if he is a credible entrepreneur.

When the investigation into the whistleblower started, Drummond sent around various emails, sometimes copying in the police and aiming to discredit the whistleblower to take your attention away from these publications.

Drummond sent the following email to investors:

Unfortunately, it’s likely that you have received phishing emails purporting to be from me when in fact they are not.

The companies Google Workspace Account (gmail, contacts, and documents), LinkedIn, and domain accounts have been hacked and under a concerted cyber-attack since 7 August by an ex-senior employee and consultant to the company who left our employment in May 2023.

There is an ongoing police investigation by the UK Cyber Crime Unit, and National Crime Agency who are Investigating this attack as a Cyber Crime and live extortion attempt.

Please disregard these emails and block the follow email addresses and domains; hello@jasondrummond.org and postmaster@jasondrummond.net

His motivation is financial, and there is no merit in his allegations. If you are a shareholder, I will be sending further information in due course.

Kind regards, Jason Drummond

Gaming Technologies UK and US

Jason Drummond, CEO

On October 3 2023, Google notified us that that under “data protection law in Europe, Google can no longer show one or more pages from your site in Google Search results” and that this was “due to a request under the data protection law in Europe”.

Why did Jason Kingsley Drummond try to hide the website? If it’s all without merit as he claims, then there’s no need to hide. A public statement would surely suffice to bring clarity to all of these “allegations” (which are supported with evidence and are therefore actually facts).

The request ultimately backfired after it was disputed by several people of being in the public interest and Google still indexes the website to this day. The website is neither defamatory nor untruthful.

What is Jason Drummond doing?

  • He doesn’t want to answer why GMGT was delisted from OTC, or why he filed a Form 15 without notifying the shareholders.
    .
  • He doesn’t want to explain the $18,000,000+ disappearance across GMGT and Gametech UK.
    .
  • He doesn’t want to explain how GMGT has millions of dollars of debt and why those debts were never paid despite the company having received some $10m of investment.
    .
  • He doesn’t want to explain why several material debts in GMGT were never disclosed in filings.
    .
  • He doesn’t want to explain how most of his previous companies have mysteriously ended up in the same position as GMGT.
    .
  • He doesn’t want to explain his associations with individuals both wanted and prosecuted in connection with investor fraud.
    .
  • Drummond’s only goal appears to be to discredit whistleblowers and to deflect your attention from the facts.
    .

Regardless of the whistleblowers, as an investor, supplier, or staff member of GMGT who has lost money, your only question should be “where has the money gone?”.

Even if the information published on this website was as false and unreliable as Drummond claims, it is still a fact that that anyone can see from the filing history that GMGT has no money and no staff beyond its “CEO”, who has been invoicing the company for his “salary” of over $1,400,000 USD in four years (see section “F-20” on the 2021/2022 10-K, and section “F-17” on the 2019/2020 10-K).

GMGT has been delisted from OTCQB and from OTC Pink onto the Expert Market, where it flagged as “dark or defunct” and its value sits at $0.001: https://www.otcmarkets.com/stock/GMGT

How does that happen? Why did Gametech UK Limited go into administration shortly after it failed to list on AIM? How did the same director manage to buy Gametech UK’s assets and go on to list the company on a public market in another country where it mysteriously failed again?

There are too many questions to be answered by the man who never lies:

jasondrummond.org HACKED (by Drummond?)

The website which was set up by the Drummond’s Downfall team at jasondrummond.org was hacked. An exploit in a WordPress plugin allowed the hackers to redirect the website to random ads, including adult websites.

It is clear that Jason Drummond and his associates will go to any length to hide the publications made here.

Why?

Why should the information on this website be hidden from the public?

Why doesn’t Drummond answer the many questions about GMGT and so many of his previous companies?

Why does Drummond continue to reach out to internet service providers, authorities, and others, with false allegations, if not in an attempt to hide the truth?

Hackers

Whilst Drummond and/or his associates continue to hire hackers, burden web hosts and domain registrars, and do virtually everything within their power to hide these publications, you can rest assured that we are here to stay, and for any website that goes down, another will go up. The hackers are wasting their time.

Here to stay

You have a right to know the truth behind Jason Drummond and his shady ventures and associates, and we will continue to deliver these truths on this website or the next one.

We are here to protect others from further damages.

Drummond’s Downfall is here to stay.


Do you have a Drummond story to share? Email us: drummondsdownfall@gmail.com

Teathers Financial Plc – “I never lie”!

Drummond is always quick to tell everyone that he has “made a mistake” and that he would have done something differently “in hindsight”, but how does his repeated behaviour of misconduct and negligence distinguish itself from actual and honest mistakes? And how can it be a mistake if the pattern of behaviour is the same? 

Gametech was crashed twice by Drummond, and here we are exposing the same behaviour again with Teathers Financial PLC.

You can listen to Drummond, in his own words, giving the very same rhetoric he has been lamenting to the current shareholders and suppliers of GMGT. The very same rhetoric he was lamenting to the previous shareholders and suppliers of Gametech UK when it went into administration in 2017. Can it really just be a coincidence?

“The situation was deliberately engineered so that the company would lose its listing, lose its registration on Companies House, and then simply disappear.”

At 21:10 of the audio below.

“I don’t lie. I never lie.” – Jason Drummond, November 2016

C A Sperati PLC was registered in 1907. It was one of the oldest companies listed on Companies House. The company’s business involved the manufacture and distribution of buttons and other apparel.

In 2013, Drummond was approached by former company director Oliver Fattal. Sperati was loss-making and had modest debts, but it had a significant asset in the freehold of its Greenwich factory. Drummond’s plan was to sell off the buttons business and the factory, and then inject Gametech UK into it, which ultimately didn’t happen, for reasons unknown. 

Following this, Drummond came up with the idea of turning Sperati into a tech business based on his idea for an investment app, which ultimately saw investors losing millions of pounds. 

Sperati became Teathers Financial in 2015.

Drummond was ultimately forced to resign due to his behaviour, and was subsequently heavily criticised by the company’s new directors, who produced the following report:

After the report, the new directors looked at taking legal action against Drummond. They considered a number of areas in which they had a legitimate legal case but ultimately took the commercial decision that they would be unlikely to recover any money because Drummond didn’t have any.

This conclusion of Drummond’s financial position was based on conversations with Doug Barrowman, a shareholder of Gametech UK and husband of Baroness Michelle Mone, who is known for her role in the £200,000,000 PPE scandal exposed by The Guardian in 2022. Barrowman told the directors of Teathers Financial that Drummond “didn’t have a pot to piss in”. 

The full legal considerations by Teathers were as follows:

Stay tuned as we bring you more exclusive stories exposing “the real” Jason Drummond! Once again, we advise you NOT to invest in or trust Jason Drummond.

We understand Drummond is currently trying to raise money for a new US company called MediPro.ai Inc, which he registered in Florida in May 2023.

The company is registered at the same luxury apartment from our GMGT story whose lease was terminated several months earlier. How does that work?

GMGT – Gaming Technologies, Inc.

This is a comprehensive overview of Jason Drummond’s conduct in the operations of GMGT. It highlights potential fraud, misfeasance, and clear neglect of a company officer’s fiduciary duties.

In summary, this article shows how Jason Drummond has most recently caused losses in excess of $18,000,000 to investors.

These losses form part of a trend which goes back over two decades to the year 2000 when many investors in Drummond’s first public company, Virtual Internet lost most of the value of their investment. 

The establishment of GMGT

After running Gametech UK Limited into the ground in 2017, Jason Drummond conspired with wanted and convicted criminals Daniel Ferris and Ronald Bauer, who sought to acquire the assets of Gametech UK with the assistance Oliver Willett of Epsilon Investments Pte Ltd and Jason Smart of Fairfax Capital BV and Ashington Innovation Plc.

Jason Drummond

Jason Kingsley Drummond (above)

Dan Ferris and Ron Bauer pictured below.

Daniel Mark Ferris AKA Dan Ferris
Ronald Bauer AKA Ron Bauer

Willett confirmed the terms included Ferris and Smart raising the initial capital. He also sates clearly that the plan is to list on Nasdaq:

Ultimately, Ferris and Smart rounded up the minimum number of investors needed for OTC. Several of these entities belonged to Ferris.

Two offshore companies “Balmoral Asset Management” and “Blue Atlas Investment Holding Limited” both belonged to Dan Ferris. In addition, Ferris put forward Marianne Thoumsin (his wife/partner), who then became the “first depositor” for the company. That means she deposited her shares before any other shareholders.

Jason Drummond later confirmed that he knew Ferris’ entities were “the same shareholder” in a WhatsApp message to Julian Parge (a former consultant for GMGT):

Willett, through Epsilon (a Singapore-based entity), orchestrated the acquisition of the assets of Gametech UK Limited with Ron Bauer and Jason Drummond:

Bauer (of Bonsai Capital Ltd) and Epsilon wanted to fund the acquisition:

However, some of the secured loan note holders of Gametech UK refused the transaction, which forced Begbies to apply for a court order to allow the sale of the assets.

Begbies subsequently accepted a deal in 2018 with Willett and Drummond at the helm. This was facilitated through a shell company called Nenx Gaming Limited (later renamed to Dito UK in 2019 and subsequently to Gaming Technologies Limited in 2021), which was established by Andrew Eggleston, a chartered accountant and CEO of EWP, who is a close friend of Oliver Willett.

Eggleston established the shell company under the name “Smart Tower Limited” in 2017, specifically for this acquisition.

Eggleston remained a director of Nenx Gaming until Drummond took over in 2019, even though Drummond had been operating as a shadow director in the background since the acquisition. This also allowed the company to obtain a Metro Bank account in the UK.

In return, Eggleston was awarded over 460,000 shares in GMGT, and was ultimately one of the only people able to make a profit from the sale of GMGT’s shares (with most of the other entities belonging to Daniel Ferris).

Once the assets were acquired, Drummond attempted to “reboot” Gametech UK and reattempt its failed AIM listing through the US OTC Market, with new investors that had no significant knowledge or connection to Gametech UK. He did this with the help of Dan Ferris, an old friend and an associate of Ron Bauer, and Ferris’ business partner Jason Smart.

Ferris connected Jason Drummond to Jason Smart:

Jason Smart founded Ashington Innovation PLC in 2023, and invited Drummond to become a director, after the demise of GMGT.

Drummond resigned from Ashington 1 day after the information in this article became public.

Vale’s gambling licences

The licence scandal and problems with vale.mx began when Drummond signed an agreement with Big Bola Casinos in Mexico:

The agreement stipulated that there would be a minimum participation rate of $10,000 USD per month (or 40% revenue – whichever was higher), which, by month 13 of operations, increased to a minimum of $40,000 USD per month.

Drummond never paid Big Bola, and he ran the casino through Markor Technology despite telling everyone that Gametech had its own casino software (it was disclosed in multiple K and Q filings on OTC that GMGT were building and using their own software).

Markor had a minimum monthly fee of $15,000 USD, which now puts the operating costs of Vale.mx at $25,000 per month, increasing to over $55,000 per month after the first year.

Markor were never paid either, and so they continued to run the casino in the background to try to make up for their losses. This went on for over a year.

Drummond then tried to sue Markor through Fieldfisher, but failed to litigate because he had used up all of the company’s money (mostly on himself, which you’ll see further down).

Drummond then terminated the Big Bola agreement:

The agreement was terminated in favour of a better deal with Fabulous Vegas Games.

Fabulous Vegas charged only 8% with a minimum of $6,000 USD per month, but also wanted an up-front fee and shares in GMGT.

When questioned about the situation with Big Bola by Fabulous, Drummond lied to Fabulous and told them that the debt with Big Bola was disputed and that he had never agreed to pay such an unfair amount of money (despite having signed the earlier Big Bola agreement):

Markor were subsequently swapped out for an agreement with Game Interaction Group, who charged a minimum of € 9,000 EUR per month from month 4:

As time passed, Drummond also failed to pay Fabulous Vegas and Game Interaction Group. Subsequently, several players lost money as the casino was suspended, and they had to make chargeback requests. Vale’s operators and SEGOB (the Mexican gaming authority) received a number of complaints. This created a problem for Fabulous, who then revoked the licence agreement, which Drummond refused to accept:

Ultimately, GMGT had no licence as of June 2023, and the casino was suspended as early as March 2023 for non-payment.

Despite the suspension, GMGT filed its 10-K in May (a late filing, as all the filings had been due to monetary issues rendering the company unable to pay its auditor and its CFO Steven Plumb). The 10-K made no mention of the suspension (which should have been disclosed in an 8-K as it was a material event), and the 10-K further went on to suggest the company still had a licence with Fabulous Vegas Games.

Canelo and the fake competition

In April 2021, GMGT paid over $1,500,000 to Saul “Canelo” Alvarez, a world champion boxer. In return, Canelo wore a Vale.net logo on his shorts. Vale.net was a landing page for a sweepstake competition which had links to vale.mx – the casino. Canelo wore the logo on his boxing shorts for a single fight against Billy Joe Saunders, and he made a few promotional videos through WPP Grey.

The videos were not owned by GMGT because the company failed to pay WPP and by the end of May 2022, there was still over $1,500,000 USD outstanding to Grey in relation to the Canelo campaign. Drummond said he “did not agree” with the invoices and never paid them, so the entire $1.5m invested into Canelo was wasted.

Very few players joined the Vale.mx casino from this fight. Approximately 110 people signed up to a sweepstake competition to win a BMW through “Vale.net” (the logo on Canelo’s shorts), but the BMWs were later cancelled as they were never paid for in full, and a winner was never chosen.

The change in operations

On the surface, GMGT appeared to be just another ordinary US public company on OTC. It was dedicated to providing gambling software to popular brands. This was the original narrative described in the company’s registration statement (page 4 onwards – “Business Overview”).

The narrative later changed substantially (see Page 1 of the last 10-K, filed in May 2023), and the company went from “licensing its own software” for revenue share to “building global gaming brands” under its own licences.

This is the original pitch deck for Dito, Inc. (the original name for GMGT before it was listed):

This was the last pitch deck for Gaming Technologies, Inc., in 2023:

Not only was the name changed, but the company went from being a “software provider” to running its own casino. Drummond was afraid to state that the company would run its own casino on the OTC IPO due to the likely delay that it may have had as a result of increased due diligence requests by FINRA and the SEC (licence information, legal information, etc.). They would have found out that Drummond previously had his UK PML (Gambling License) revoked:

This letter clearly states that Drummond:

  • was aware that Gametech did not have adequate resources available for the purpose of carrying on the licensed activities.
  • was aware that Gametech was using customer funds to cover its operating costs
  • either provided false and misleading information to the UKGC, or did not work with them in an open and co-operative way.

Again, this would have definitely prevented the company from being able to list, and again shows an authority stating categorically that Jason is negligent at best.

Jason Drummond served himself, and no other

Once the money started coming in from investors, Jason Drummond helped himself to it. He took over $1.4m in the four years of GMGT’s tenure on OTC. This information is reflected in the 10-K filings found here.

You can see section “F-20” on the 2021/2022 10-K, and section “F-17” on the 2019/2020 10-K.

Drummond strategically prioritised other payments as per whatever he thought was most urgent (generally the auditor and CFO Steven Plumb), but predominantly he always ensured that he was paid first, whenever money came in, and he always ensured that he was paid the most.

In 2021, despite the company’s significant debts to various suppliers (Markor, Big Bola, various advertisers, various staff, etc.), Drummond helped himself to over $589,000.

Drummond had originally assigned himself an informal salary of £240,000 GBP per year (despite arguing with staff that the company was a startup and that their salaries had to be kept low), but he actually ended up taking on average £275,000 GBP per year. At the same time, suppliers were not paid, and staff were consistently paid late – or not at all, as was the case for several staff who quit with substantial payments outstanding.

In addition to his “startup salary”, Drummond helped himself to cash whenever he felt like it by using the company’s bank accounts as his personal piggy bank. He made a number of suspicious VAT reclaims and R&D tax claims.

At one point the UK subsidiary of GMGT received a penalty of nearly £60,000 GBP from HMRC, for Drummond’s attempt to claim VAT through his service company MY8 Limited, which he used to invoice Gametech for his salary:

In July 2022, Drummond helped himself to £70,000 after a £230,000+ R&D tax credit. R&D credits are around 30% of the claim, therefore any claim for this amount of return would have had to be over £1m. Since the company did not qualify for such a claim, the claim would have had to have been fraudulent.

Further, Drummond used the company’s Wise (TransferWise) account to continually send himself money.

Despite the documents being date Q1 of 2023, the address of 413 W 14th St New York has not been updated. None of the company’s formal documents contain a valid or legitimate company address at which the company could receive mail.

This behaviour of helping himself to company money continued throughout the four year tenure of GMGT.

The unavailable funds

Gaming Technologies, Inc., was cleared by FINRA and approved for OTC Pink on 3 March 2021. The company became DTC eligible on 9 June 2021 and received OTCQB approval on 11 June 2021. The company was then approved for Nasdaq on 8 February 2022, however Drummond could not complete the Nasdaq uplist because the company had no money and no revenue. This is entirely due to Drummond’s behaviour with the company’s money.

In February 2022, Drummond started leasing a luxury apartment in Miami, despite that he could only spend 90 days per year in the US. Drummond didn’t get a visa until May 2023.

The lease was terminated in December 2022. Drummond had stayed there for less than three months in total, and no other staff or consultants were permitted to use the apartment.

In addition to the apartment, Drummond purchased a $20,000 car in January 2023 using the company’s money, despite knowing that the overwhelming and mounting debts of the company couldn’t be covered.

The bottom line

Jason Drummond consistently misled investors to obtain further funding. Ultimately, he used this money for his own personal benefit, at the cost of nobody else getting paid, and only to support his “image” of wealth that led other investors to believe he was a credible and successful entrepreneur.

Over £7,000,000 GBP was lost by investors in Gametech UK Limited which ultimately went into administration. Over a further $9,000,000 was lost by investors in GMGT.

In total, Jason Drummond has caused losses in excess of $18,000,000.

The company failed to generate any revenue which could have supported its growth, with the entirety of its small revenue from Vale.mx casino going directly to Markor (and later to Fabulous Vegas, who also owned Paycips – Vale’s payment gateway and Mexican bank account), to cover their own minimum monthly fees.

Drummond is negligent at best, and completely fraudulent at worst. He cannot be trusted to run any other businesses. If you have been approached by Drummond for investment and you are subsequently aware of this article, you should walk away. Fast.