Benoit Laliberte, CEO incompetence killed UAMA
Facts are clear that Mr. Laliberte should have gone to JAIL for his 44 convictions for stock fraud, market manipulation and deceiving investors. He'd have been sent to jail in any other Province in Canada at the time and certainly in the US. He was very lucky to have dodged a jail sentence.
Not only has he been an undischarged bankrupt for the past ten (10) years, but also morally bankrupt. Dig into the bankruptcy proceedings of Teliphone-Navigata-Westel (TNW) and the many documented breaches of contract. Serious enough that one judge went on the record commenting that it appeared that such breaches seemed a business practice of Mr. Laliberte. Remarkable comment on business ethics.
The record shows that Mr. Laliberte is a poor manager and leader. He's screwed up and caused the failure of numerous companies the largest of which was Teliphone-Navigata-Westel. That $47M bankruptcy totally GUTTED the asset base and employee talent base. Nothing is left except for a pile of legal bills and potential action against Mr. Laliberte for his written threats to an Officer of the Court and his failure to remit employee tax withholdings to the CRA in Canada. Will this bring charges against Mr. Laliberte? Time will tell.
In retrospect not sure why Investel, UAMA, Laliberte bought RuralCom in 2019. RuralCom became TNW Wireless Inc and that has totally failed. Time has clearly demonstrated that Mr. Laliberte doesn't understand wireless. RuralCom was "market ready" with institutional investor support garnered through the RuralCom CEO. It could have been quickly built into a significant regional carrier and could be generating $40-80M today in annual revenues with really decent EBITDAs, except Benoit's EGO got in the way and it was all for naught. The RuralCom CEO was set free along with his financial supporters and the record will show that when Laliberte approached those institutional investors he was shown the door! Funny how the investor community eschews convicted criminals.
Don't see the greatness that some other posters seem to want to see in Mr. Laliberte. He's a fraudster with a track record that confirms his incompetence. Predictably UAMA et al has failed.
