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2020-03-17 — telegraph.co.uk
Embattled currency exchange firm Finablr has uncovered $100m (£81m) of secret finance deals and warned it could go bust, forcing trading in its shares to be suspended.
In an announcement rushed out on Monday morning, the Travelex owner said it is running increasingly short of cash and can no longer provide some payment processing services. Boss Promoth Manghat has quit. The discovery comes just weeks after NMC Health - another company set up by Finablr's founder BR Shetty - was plunged into a similar crisis. Finablr also said its board has been informed of cheques dating from before its flotation last year -- believed to total about $100m -- written by the company as security for loans which benefit third parties.... source article | permalink | discuss | subscribe by: | RSS | email Comments: Be the first to add a comment add a comment | go to forum thread Note: Comments may take a few minutes to show up on this page. If you go to the forum thread, however, you can see them immediately. |