EVERYTHING ABOUT FUSIONEX

Everything about fusionex

Everything about fusionex

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As of publishing of this post, Ivan has not responded to DNA queries to receive his side in the story.

It truly is thought that other ex-Fusionex executives have also been achieving out to vital govt and private sector consumers in addition, assuring them of aid while It's not at all very clear through which corporation.

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It had been not only the movement to wind up, though the information that Ivan and a lot of of his leadership team Stop their Positions abruptly with out serving due observe and didn't execute their Specialist and fiduciary duties with a suitable handover of access and paperwork.

Even so the dust isn't going to choose this story as Ivan and his senior execs who still left all of a sudden are hoping for. Not when The solution to Hitachi’s drastic winding up software is laid bare while in the detailed courtroom submission.

Hitachi court docket petition to end up Fusionex, expose grim Full Article picture of alleged unethical and irresponsible conduct by Ivan Teh and his senior Management

Suspicious transactions pertaining to V-Circle and Convedge for ‘program progress fees’ and/or ‘technologies service fees’

This time they claimed the Fusionex Team needed the US$100 million to US$one hundred fifty million funding to fortify its R&D. No mention was crafted from needing The cash to stabilise the team.

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But this request from the entrepreneurs of the business and its appointed directors and audit committee was denied by Ivan, all over the pretext of some “government directive” that prevented him from sharing money data sought by Hitachi in a company they owned, one hundred%.

But, aiming to help take care of The difficulty, Hitachi established out some pre-ailments for Ivan to get funding from it, which provided:

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Incredibly, Hitachi said cabinets in the finance Section “appeared to have already been emptied out” Using the money records and administration accounts of the Fusionex Group and Fusiotech Holdings nowhere to generally be identified, aside from the harmony sheet and consolidated statement of economic position as at 30.nine.2023.  

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