The chief executive of StrongRoom AI has denied confessing to “willful fraud” in a board meeting with two of the collapsed start-up’s biggest investors last month.
The pharmacy software developer is in the midst of a complicated dispute with its biggest investor, Sydney-headquartered venture capital firm EVP, which is attempting to claw back more than $10 million it invested earlier this year. EVP has accused StrongRoom of misrepresenting its financial position by claiming government grants, loans and share payments as revenue.
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Amelia McGuire covers technology from the AFR's Sydney newsroom. She was previously the aviation, tourism and gambling reporter for The Sydney Morning Herald and The Age. Connect with Amelia on Twitter. Email Amelia at a.mcguire@afr.com.au
