Lawsuit Against InterOil (IOC) CEO Highlights Concerns

Barry Minkow's Fraud Discovery Institute report on InterOil (NYSE: IOC) highlighted a lawsuit against the company's CEO Phil Mulacek filed by original investors, seeking up to $1.3 billion in damages. The report claims that the lawsuit worried Mulacek so much that a company he controls filed a bad-faith bankruptcy in an attempt to derail the litigation.

The lawsuit claims that Mr. Mulacek forged documents, secretly created a shadowy Bahamian company and ignored "crippling conflicts of interest" in order to enrich family, friends and himself.

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