Gilmore filed a case against Turvo in August but interestingly he didn’t deny claims against the expenses. Instead, he had filed the case saying that the company didn’t follow the proper procedure in sacking him. The case, as per reports, was settled in September. Gilmore meanwhile remains on the company’s board of directors and is also the biggest shareholder of the company.
Turvo was co-founded by Gilmore in 2014 as platform for supply chain management and was reportedly valued at $435 million.
Instances like these are not that common but last year it came to light that a Chinese smartphone company’s CEO had lost billions of dollars in gambling. In December 2018, it was reported that Chinese smartphone company’s CEO had lost over $1.4 billion while gambling in a casino. The Chinese company’s chairman Liu Lirong admitted that he had gambled the money when it was announced that the company had filed for bankruptcy. IT CEO fired after allegedly spending over $75,000 at strip clubs
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