Why haven't the cops been involved yet? It's either fraud or...

Why haven't the cops been involved yet? It's either fraud or theft or both and surely this should involve criminal proceedings? I note that ASIC have commenced legal proceedings - does anyone know if they are criminal in nature?

WTF was in the minds of McGovern and Madafferi? Did they think no-one would notice? Albeit no-one did notice for ages.

I don't see how Pawlowitsch can stay at the company. He should be gone and the idea that any retail SH are going to vote to allow him to receive 10m in shares is plainly nonsense. Can Thorney and the insto SH provide enough votes to get that through? Probably but it would be a mistake IMO.

"The investigation was, in part, based on the trust account ledger provided by Christopher William Legal. Given the source of the ledger was potentially involvedin the alleged misappropriation of the funds, and considering the fact that the Company was able to identify some discrepancies in the ledger, the trustaccount ledger may not provide a complete and accurate record of the use of the funds."

Understatement of the century? The entity / individual 50% running the fraud has provided the historical ledger of transactions to Dubber. Any chance it's not entirely telling the truth?

Lots to unpack in this release of info today.

"Additionally, in 2023 the Company and former CEO and founder, Steve McGovern,received letters of demand from Peter Slaney and Lillian Slaney, who were formerbusiness partners of Mr McGovern and shareholders in the original Dubber businessvehicle prior to its acquisition by the Company, with them becoming shareholders in theCompany on its re-listing on ASX. The demand relates to various matters involvinghistorical business dealings with Mr McGovern in connection with the purported fundingby them of the Dubber business prior to the re-listing that is claimed also impacts theCompany. The amount most recently claimed is approximately $1 million. The Companyhas formed the view that it bears no obligation or liability in respect of the matter andthere is a low likelihood that any litigation will be commenced or successful against theCompany. However, there is no guarantee that a claim will not be brought against theCompany and, if commenced, that it will be resolved on favourable terms or at all."

I assume Peter and Lillian Slaney are the parents of James Slaney and put up a big slug of the money to set the company up originally.