NEW YORK, March 9, 2022 /PRNewswire/ -- Mr. Scaglia owns a total of 123,715 shares of Freedom Holding, Inc. ("Freedom"), the parent company that owns Elite World Group ("EWG") and all its affiliated companies, more than 99% of all voting shares of Freedom, the owner of EWG, says attorney Lanny J. Davis. "Thus, there should be no doubt that Mr. Scaglia owns EWG and Freedom."
This math contradicts the false claim made by Julia Haart in a variety of public filings and media reports, Davis says.
The total number of voting shares owned by Mr. Scaglia comprises 123,665 shares of preferred stock plus 50 shares of common stock. Ms. Haart owns just 50 shares of common stock. Specific provisions of corporate documents state that both preferred and common stock shares are counted as votes. To confirm this is so, see the corporate legal documents here.
For Ms. Haart to continue to insist she is a "co-owner" of Freedom and thus EWG would be akin to her buying a single share of Apple and claiming she "co-owns" the company.
In addition, her statements to the media that she continues to work for EWG or any of its affiliated companies or stakeholders are simply false. Here are the facts:
On February 7, 2022, Ms. Haart was informed of her impending termination as CEO of EWG for cause, detailed in a letter from the company's Board of Directors. The very next day, on February 8, Ms. Haart transferred $850,000 without permission from Freedom's bank account to a company she solely owned. A...
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