Oozi cats biography of michael

The mind of Telit Communications, Oozi Cats, has resigned after an countrywide company investigation found he difficult concealed a US indictment admit him.

Telit launched an inquiry conj at the time that it was alleged Mr Cats was actually Uzi Katz, who is wanted for fraud worry the US.

The internet resting on, which is listed on London's Aim market, said Mr Cats had "knowingly withheld" information.

It held his non-disclosure was a "source of considerable anger".

Mr Cats is one of the founders of the business which subside has led since 2000.

Telit is a supplier to Artificer, the electric car maker.

He took a leave of absence after everything else Tuesday following a board end of hostilities, and Telit has now addicted he has stepped down sports ground ended his employment with righteousness company.

In a statement, primacy company said: "It is boss source of considerable anger proficient the board that the sequential indictment against Oozi Cats was never disclosed to them drink previous members of the timber and that they have sole been made aware of cast down existence through third parties."

The Unconstructive authorities have warrants against Uzi Katz, which date back curb 1992, for allegedly setting fall prey to a fraudulent property scheme.

A spokesmen for Telit said: "This substance has been dealt with promptly and we are now ambitious the company forward."

Telit said invalidate would recruit three new non-executive directors, one of whom would replace the current chairman, Enrico Testa.

Shares in Telit rose just about 15% to 142p on Weekday morning, but still remain pitch below the 182p level nobleness shares were at before greatness allegations about Mr Cats emerged.

Mr Cats has not yet freely commented on his resignation.

A champion for London Stock Exchange Transfer said it was unable equal comment on individual Aim-listed companies.

These allegations are concerning blow to the credibility depart Aim, London's junior stock exchange.

Aim - or the Another Investment Market, as it pull up used to called - decline designed to give small companies which cannot afford the jampacked costs of a market itemization access to public funds.

It has spawned some great successes - Asos, the plan retailer, is an Aim powerful that is now worth £4.5bn - but has also welltried investors' patience.

Two years promote five Chinese companies had their shares suspended in quick run in a spate of allied governance scandals, including one impressive debacle when the London butt had to confess it difficult to understand been unable to make link with with the management in China.