Friday, November 21, 2014 11:17:16 AM
“The pattern of fraud uncovered was instituted and overseen by former CEO Joe Wagner, who ran XA with little or no oversight from former CMG board members from 2009 – 2012.”
From the time CMG first acquired ownership of XA in 2009, and until their departure from the firm a few months ago, Darren Andereck, XA’s president, Joe Wagner, XA’s CEO and Jean Wilson XA’s COO all owned privately held competing companies designed to siphon business opportunity away from XA
These undisclosed entities also defrauded the parent company by becoming vendorsto XA – charging XA nearly $650,000.00 in questionable receipts over last two years alone.
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