RE:Allegations of Fraud at PYRGrahamB wrote: I was reading this globe and mail article and looking at the AMF allegations.
Does anyone know of any follow-up with PYR chair of the audit committee that resigned?
His comments are interesting and revealing.
"in early 2018, Phoenix said it was instead owed $5,531,928, the AMF says. That was the difference between what it had already been paid by PyroGenesis and the estimated 30-year total of more than $14-million in payments.
In the ensuing board discussions, Angelos Vlasopoulos, the chair of the audit committee, resigned. The AMF said he told the regulator during its investigation that he quit because “the circumstances surrounding this proposed transaction unduly exposed PyroGenesis to the risk of fraud.” (Mr. Vlasopoulos did not return a message requesting comment, sent via LinkedIn and e-mail to his current employer.)"
Source:globe and mail.com
Not financial advice-for entertainment only FWIW
In the 2019 annual report on SEDAR, the resignation of the chair of the audit company is mentioned but no details that i could find until the AMF allegations:
"On April 27, 2018, PyroGenesis announced that Mr. Angelos Vlasopoulos, director and chair of the Audit Committee, had resigned. Mr. Alain Curleigh, chair of the board of directors of the Company (the “Board” or the “Board of Directors”), assumed interim responsibility as chair of the Audit Committee. On May 10, 2018, PyroGenesis announced the appointment of Mr. Andrew Abdalla, CPA, CA, to the Board as an independent director and chair of the Audit Committee." Source: SEDAR.com
We're the details surrounding the allegations noted by the AMF reported or known before the AMF allegations.
Trying to understand how to delve further into corporate disclosures
FYI, FWIW-not financial advice, for entertainment only