ISX Financial EU PLC (“The Company”) was informed by his Managing Director and CEO, Mr. N. Karantzis, that he will appeal against the judgment of the Australian Federal Court of Justice.
The court excluded Mr. Karantzis in a procedure that was initiated by the Australian supervisory authority for companies, excluding the management of Australian companies for six years for six years and sentenced to payment of $ 1 million.
The board indicates that it is a civil law and not a criminal proceedings that relate to disclosure and corporate communication about five to seven years ago under difficult and unprecedented circumstances with which the company Southern Cross Payments was confronted.
Mr. Karantzis has a solid track record and has been working in the management of regulated financial companies since 2017, including from March 2020 to March 2022 as CEO of the holding company of an Australian market operator regulated by ASIC Tier 1.
The board of Isx Financial continues to have full confidence in Mr. Karantzis.
Mr. Karantzis is unable to comment on the judgment because he will appeal.
The board explains that, according to his obligations as a licensed E-money institute, it has properly informed the responsible authorities about the facts mentioned above and will take all prescribed measures that are required in accordance with the laws and guidelines applicable.
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