After haunting Adani for months, Hindenburg Research brought out a new report which went after Twitter's founder and former CEO Jack Dorsey. As it raised questions about lack of verification and presence of fake accounts on Dorsey's fintech app Block, Hindenburg accused it of facilitating fraud.
Among other allegations, the report mentions Indian origin Chief Financial Officer Amrita Ahuja, who justified the failure to verify users for frictionless services.
Hindenburg's two-year probe with inputs from former employees, shows how criminals were allowed to operate hundreds of accounts, in the name of easy onboarding and seamless user experience by Ahuja.
Here's more about the CFO who has been caught in the eye of the storm with Dorsey.
Rising up the ranks
Born to Indian parents who migrated to the US in the 60s, Ahuja has attended the London School of Economics, Duke University and Harvard.
After starting with Morgan Stanley in 2001, she had worked with Airbnb, McKinsey and Disney, before arriving at Block Inc, which was known as Square in 2019.
Coming from a suburb of Cleveland, Ahuja went on to facilitate the launch of OTT service Hulu and transformed the business model of Activision Blizzard that created games such as Call of Duty and Candy Crush.
From hopeful start to damning allegations
Featured among Fortune's most powerful women last year, Ahuja joined Square to empower small entrepreneurs like her parents, who owned a daycare centre.
She is also accused of dumping her stake in Block worth millions when co-founders sold shares worth $1 billion as the stocks surged due to alleged facilitation of fraud.
Ever since the Hindenburg report came out, Block's stock has lost 15 per cent of its value in Thursday and was down 4 per cent on pre-market trading on Friday.
