From The Verge:
Stefan Krause, previously of BMW, calls the claims ‘baseless’
Hours after it was made public that struggling electric car startup Faraday Future was losing three top executives, the company is coming out swinging against the one who was most deeply involved in trying to keep the lights on. In a post on the company’s website, Faraday Future is accusing now-former CFO Stefan Krause of “malfeasance and dereliction of duty,” as well as a “possible violation of law.”Faraday Future also claims that it terminated the executive when he left last month, as first reported by Jalopnik. The company says Krause was “hindering FF’s fundraising efforts.”“Stefan Krause’s possible violation of law and lack of contribution to FF’s goals over the course of his leadership since March has led to severe damages to the interests of FF and its investor,” the statement says. “FF is currently taking legal actions as a result of Stefan Krause’s malfeasance and dereliction of duty.”The company wouldn’t specify what those “violations of law” are, and, as Jalopnik reported, no legal action has been taken yet. In a statement, Krause reinforces that he resigned from the company and called the claims “baseless and defamatory.”Faraday Future issued a statement today that falsely described my departure from the company. The truth is that I resigned from Faraday Future on October 14, effective immediately. The company’s statement inaccurately portrays the circumstances surrounding my departure, and includes baseless and defamatory statements about me and my contributions to the company. I have retained legal counsel and will be exploring all options available to me....
Our introduction to 2013's "How to Spot a Hedge Fund Fraudster":
Bombast. In my experience they are all bombastic.And my all time favorite bit o'bombast, recounted as the intro to 2007's "Planktos Highlights Real Ocean/Climate Crises & Responds to Recent Misinformation Campaigns" about a Euro-American reinsurance scam that had reverse-merged its way onto the American Stock Exchange, gotten onto the Fed Board's margin list and then, rather than doing the dump half of a pump-n-dump as they gunned it from 50 cents to $15.00, had just margined the hell out of their brokerage accounts, requested the excess buying power be wired out and skedaddled, picking up the remaining cash in the corporate bank accounts on their way out the door:
And stripper poles. You would not believe the number of stripper poles that crooks collect....
...But first, one of my favorite examples of a stock scam (I told you, I have a morbid fascination with the underbelly of the markets, it's like watching the lions approach the wildebeest at the watering hole, you don't want to see it but you can't look away):
...Peter Uttley, Equisure's chairman and a former Lloyds of London executive, took control of the company this week, assuming the chief executive post....
...Uttley said in the press release that his chairman role had been a "passive" one, but he now plans an active reorganization of the company, whose reputation has been stained by allegations that it is a scam insurance operation.......In an unusually emotional statement to the press, sent from an Equisure board meeting Friday in London, Uttley told his version of events over the summer, which eventually led to the delisting of Equisure shares on the American Stock Exchange.
He then proceeded to tell a story of three men, whom he described as "liars," "cheats," and "scallywags," who worked with law enforcement officials and the press to spread false rumors about the company with the intent of buying Equisure out at 50 cents a share, a tiny fraction of the stock's trading price of $15, before AMEX suspended trading Aug. 1."The simple truth was consumed in the belly of deception, but now has been vomited for the world to see," Uttley began.
Isn't that damn fine bloviating? It's hard to research but I think Uttley et. al. got away with $100 mil.Who's going to top "The simple truth was consumed in the belly of deception, but now has been vomited for the world to see," in a press release?
Here's Russ George of Planktos responding (I think) to Greenpeace's submission to the recent meeting of the International Maritime Organization...
Scallywags is a nice touch as well.