Statement from Canopy Financial's Ex-CEO
Earlier today we reported on massive fraud at Canopy Financial, a San Francisco-based company that had raised over $88 million in VC funding. Company founder Vikram Kashyap has just issued the following statement, via his attorney: Vik Kashyap had no prior knowledge whatsoever of any fraud regarding Canopy’s financial statements. He is as surprised as anyone about these allegations. He relied on financial and legal professionals in accepting the authenticity of the company’s financials. Going forward, he will leave his role as CEO of Canopy, but will remain as Chairman of the Board of Directors, helping to ensure that anyone who committed fraud is held fully accountable. We have requested an interview with Kashyap, although don't expect that it will be granted.
