Defi News- Kubat tweeted about his resignation from the company on February 20.
- After Kubat’s departure, CEO Zaki had an AMA on Twitter Spaces.
Composable Finance’s current CEO has strongly denied claims of legal wrongdoing made by the company’s former CTO, Karel Kubat.
Kubat tweeted about his resignation from the company on February 20. Along with a litany of charges against the business and its CEO. In addition, Kubat said that he was retiring because neither he nor the community had been given access to the company’s financial accounts. And he thus lacked an understanding of the company’s financial health.
Refuting Allegations
Nonetheless, Kubat stated that he has suspicions that CEO Omar Zaki, who is prohibited from raising funds for companies. Participated in the raising of Series A funds for the company in defiance of a cease-and-desist mandate. From the United States Securities and Exchange Commission.
In addition, Kubat indicated that he had reason to believe that Zaki’s involvement in the purported rug-pull project Bribe was far more than he officially acknowledged. After Kubat’s departure, Zaki had an AMA (Ask Me Anything) on Twitter Spaces on the 20th to refute the allegations. To the best of his knowledge, he said, all of the company’s acts had been legal.
Zaki responded to accusations of financial secrecy by saying the firm is private and hence cannot provide financial details to the general public.
Moreover, Zaki also said that the Series A financing was conducted entirely offshore in accordance with local law, denying that he had disobeyed any SEC directives. Zaki assured investors that the business has hired attorneys to prevent any violations of the law.
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Source: https://thenewscrypto.com/composable-finances-cto-steps-down-pointing-possible-legal-violations/