FTI Consulting now in acting handling of scandal-hit Indonesian unicorn efishery
1 min read

FTI Consulting now in acting handling of scandal-hit Indonesian unicorn efishery

Singapore – Indonesian Aquaculture Start Efishery On February 4, announced that it has involved business advice and management counseling FTI consultation in the company’s defending management, with immediate effect.

This is coming In the midst of accusations of systemic fraud within EfisheryFollowing media reports that it is alleged to blew up its revenue in September 2024 with almost 600 million US dollars ($ 815 million). Several employees under the Workers’ Union arranged a protest at the end of January to require openness and a thorough investigation.

In a statement on February 4, Efishery’s Board of Directors said it had examined an interim report from FTI consultation on the company’s and its subsidiaries’ governance and financial conditions, as well as information received at the end of 2024 regarding alleged incorrect behavior, including fraud.

The company therefore took measures to deal with the information, including involving FTI, which consults in the company’s acting management, with approval of shareholders.

To involve independent third -party leadership “aims to facilitate a thorough and objective business review to determine the best path forward for the group,” says the board.

FTI Consulting issued a separate statement that confirmed its commitment and stated that it is focused on gaining a clear understanding of the current situation.

The extensive business review “is in its early stages”, and FTI consultation will provide material updates to stakeholders in coordination with Efishery, says the company’s consulting company. Business time

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