MarketSpreads an online trading firm based in Ireland is suing its former CEO and Executive Director for routing cash out of the company to another company they were involved in.
The pair are alleged to have been moving funds from MarketSpreads to a firm where the ex-CEO was a 60% stake holder.
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It is believed that the ex-CEO Mr Rice and ex-Executive Director Mr O’Neill had administer the funds as a loan. However the two resigned form the company and sold their stake.