Tyrone Wilson and his company iCreate is enduring a torrid time and are the subject of much opprobrium in the Jamaican investor space.

There are those who are taking issue with both The Jamaica Stock Exchange (JSE) and the Financial Services Commission (FSC) for not censuring the company for blatant breaches of corporate governance and standard practices.

Bad press does impact share price and iCreate is no exception. 

Once at a 52 week high of J$4.90 it dropped like a lead ballon to 0.91 on Friday.

There is so much negativity surrounding iCreate and efforts to regain credibility must begin quickly.

Only last week a letter by a group calling itself JSE Investors United levelled accusations at the company of: Inaccurate and misleading financial reports, delay in financial reporting, reporting of false company news, stock price manipulation, mismanagement of receivables due from related parties, and insider trading.

The group which doesn’t name its authors implores the FSC and the JSE” to initiate decisive and robust measures to halt these fraudulent practices.”

Wilson strenuously denies all these allegations and insists he runs  a compliant company. He further added that bad actors are set on destroying his reputation and his company.

To date both the JSE and the FSC have not commented and it is business as usual with iCreate.

“iCreate consistently releases quarterly unaudited reports and audited results with significant delays and without any warning or sanctions by either the FSC or JSE. The most striking aspect of the Company’s financial reporting is the substantial variance between its unaudited reports and the audited reports”, read in part the JSE Investors United letter.

A financial anaylst speaking with Our Today said: “ Tyrone Wilson needs to recalibrate the company and find himself a good mentor perhaps someone with an impeccable reputation like Audrey Tugwell-Henry. He needs help and the constant flow of bad news, accusations and changes of his management team and Boards are not doing him any favours. In fact t is a source of consternation for shareholders. Everybody can’t be wrong here, he has to take responsibility.” 

Only recently iCreate completed the 100 per cent acquisition of ordinary shares of Allie McNab’s outdoor advertising company Visual Vibe as part of its merger and acquisition strategy as it looks to be a major force in the creative digital space.

Earlier this month, it was announced that iCreate’s planned acquisition of Ideas Execution, a local branding and trade marketing company headed by Kevin Frith fell through with bad blood between Frith and Wilson.

iCreate listed on the Junior Jamaica Stock Exchange in 2018 with much fanfare with Wilson touted as one of Jamaica’s finest young entrepreneurs who did Jamaica College proud.