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De Tomaso chairman arrested amidst allegations of public funds misuse


Posted on by 17

With De Tomaso finally biting the dust just days ago, reports are flying that the company’s chairman, Gian Mario has been arrested facing allegations claiming that $9.2 million in public funds were misused when De Tomaso tried to turn the company around.

The reports come from Reuters and also state that another two former employees from De Tomaso have been arrested with the man once responsible for leading De Tomaso’s human resource department being one of them. Amidst the allegations include ones stating that these employees may have unfairly received public funds and then transferred the funds directly into their personal bank accounts.

These claims are yet another thorn in the brand’s recent fall from grace and despite many hoping that De Tomaso could turn these misfortunes around, it seems that the company will never be a part of the automotive industry again.

The claimed misuse of funds are actually similar to those of former Lotus CEO Dany Bahar who is also being investigated , and if Mario and the other two employees being investigated are found to be guilty, then prison time could be in order.

Source: Reuters


17 comments:

I have no idea what happened and why it seemed complicated, but it’s glad to know that the man who is the chairman of the company has arrested with his misuse of public funds.

I doubt that it will not be affected by these issues and allegations regarding the chairman of the company.

Do they have investigations on this matter? Did they make background check on the chairman of this company?

What do you think about this company? Do you think it can survive for this issue? Will they give a refund for this company?

How about the company? What’s their next plan?

I agree. The reputation and trust within the company are completely lost by this issue and allegations on its CEO.

I don’t think the company will survive these allegations even if the money is given back.

The fund stolen must be back to prevent further damage on the company.

He’s not responsible for his position. He placed the company on a situation that might be a reason of its bankruptcy.

Are they going into real bankruptcy?

The company could be in the status of bankruptcy in that situation.

What will happen to the company? Are they going to lose it?

De Tomaso must have his side heard and judged. They also have to know where is the money, and it should be returned. If they can’t have the money back, he has to pay for it. No matter what it takes and how much it cost.

I think the best way to do is to return the fund for the company so that this issue will cease, but we have to know the real story behind this.

De Tomaso chairman arrested amidst allegations of public funds misuse
Comment: Using the company’s fund in personal expenses might be one of the reasons.

He must be guilty about having accusations like that. Poor company that they have to suffer from the mismanagement by its governing body.

I’ve never heard them anyway. This issue must be resolve for the sake of the company. Where must the funds by now?

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