Two late payments are neither fraud nor deceit. Check those law books and the dictionary again. Uli claims he met the terms of his agreement, but so what? I've dealt with many contractors who have made that claim when they did not. I wonder why GlobeTel stopped paying Uli altogether and is now suing him for violating the agreement? If Uli had been performing under the contract as agreed or had not violated any terms of the agreement, why sue him?
P.S. Those messed up financials being investigated by the SEC were overseen by former CFO Larry Lynch (Uli's new partner), a mess inherited by the current management and which will be resolved/restated in August.