Are Pars family embezzling funds from Xela?
This is a company Jito is CEO of. It’s backed by the hedge fund, HGM fund that par, Jito and Kanwar, the three brothers own. It has 800 million in capital. It’s unclear where it got that capital from.
Exela shareholders had their investment depreciate 99.9% over the last two years. The company issued hundreds of millions of dollars in shares to pay off debt though it’s not apparent to who as most its contracts are obscure. Xela then reverse split all these shares away, reducing shareholder value by over 99%. Is it possible that HGM fund and this company may be getting some of these funds?
Exela shareholders had their investment depreciate 99.9% over the last two years. The company issued hundreds of millions of dollars in shares to pay off debt though it’s not apparent to who as most its contracts are obscure. Xela then reverse split all these shares away, reducing shareholder value by over 99%. Is it possible that HGM fund and this company may be getting some of these funds?
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