Zilingo co-founder denies charges of financial irregularities

Zilingo co-founder Ankiti Bose has claimed that all payments made by the company were legitimate and not meant for personal benefits, reported Bloomberg.

Bose was recently terminated as CEO by the company after the latter opened an investigation against her regarding allegations of financial irregularities. The co-founder, however, denied charges and vowed to pursue her rights against what she described as a “witch hunt.”

One of the allegations against Bose is that she approved payments worth millions of dollars to certain service providers during a two-year period without informing other senior managers.

Bose responded by saying it was plausible that some individuals may not be aware of the payments as “there are so many jurisdictions and so many parts of the company.”

Another key area of investigation is the irregularities in revenue figures in listed documents given to existing and potential investors during her tenure as CEO.

Bose said such discrepancies could have been due to different accounting standards in different countries.