Sandra Dierstein sold shares to me promising big wins. She was the Executive in charge of managing this "investment" so she must have known off or built the sneaky way they used to syphon of millions, now she living in Dubai luxury house but Cellos investors all lose. She was with Jason everytimes.
Technology vendor CellOS Software has won $42 million in damages from its former chief executive officer for secretly buying and selling his own shares in the company for a profit.
Jason Huber, who founded CellOS in 2005, was accused by the company’s board of defrauding it through two uncommercial loans he provided and share trading involving a network of offshore entities. The business has more than 100 employees across Asia Pacific, with locations in Singapore, Australia and India.
A Federal Court has now ordered Huber to repay $42 million -- the amount of profit lodged due to the share trading -- plus costs. In addition, the judge also expunged the $15 million loan from CelllOS’ balance sheet, and has also allowed the vendor to cancel 13 million shares that were previously issued under a debt to equity conversion.
CellOS, which achieved Oracle Partner Network gold member status in 2017, supplies communications service providers with software solutions, including big data analytics, data monetisation and security intelligence. While acting as CEO, Huber had the responsibility for raising funds to run CellOS’ business.
However, according to summation from Justice Jonathan Beach, instead of procuring potential investors to buy shares issued by CellOS, Huber diverted potential investors to buying shares from him through his own controlled entities.
Channel Asia Reviews
Sandra Dierstein sold shares to me promising big wins. She was the Executive in charge of managing this "investment" so she must have known off or built the sneaky way they used to syphon of millions, now she living in Dubai luxury house but Cellos investors all lose. She was with Jason everytimes.
https://www.channelasia.tech/article/678591/cellos-software-wins-42m-from-ex-ceo-share-fiddle
Technology vendor CellOS Software has won $42 million in damages from its former chief executive officer for secretly buying and selling his own shares in the company for a profit.
Jason Huber, who founded CellOS in 2005, was accused by the company’s board of defrauding it through two uncommercial loans he provided and share trading involving a network of offshore entities. The business has more than 100 employees across Asia Pacific, with locations in Singapore, Australia and India.
A Federal Court has now ordered Huber to repay $42 million -- the amount of profit lodged due to the share trading -- plus costs. In addition, the judge also expunged the $15 million loan from CelllOS’ balance sheet, and has also allowed the vendor to cancel 13 million shares that were previously issued under a debt to equity conversion.
CellOS, which achieved Oracle Partner Network gold member status in 2017, supplies communications service providers with software solutions, including big data analytics, data monetisation and security intelligence. While acting as CEO, Huber had the responsibility for raising funds to run CellOS’ business.
However, according to summation from Justice Jonathan Beach, instead of procuring potential investors to buy shares issued by CellOS, Huber diverted potential investors to buying shares from him through his own controlled entities.