TITLE

Other People's Money

AUTHOR(S)
Beller, Peter C.
PUB. DATE
April 2007
SOURCE
Forbes Asia;4/23/2007, Vol. 3 Issue 7, p35
SOURCE TYPE
Periodical
DOC. TYPE
Article
ABSTRACT
The article discusses the allegation that businessman Donald K. McGhan has mismanaged the funds of Southwest Exchange. Stockholders alleged that out of $95 million funds which McGhan took from Southwest and other companies he purchased from 2004 and 2006, only $68 million was used as venture capital for his startup firm MediCor. Bank records show that McGhan spent lavishly on hotels, limousines, restaurants and private jet. Stockholders already filed a state lawsuit in California.
ACCESSION #
25030756

 

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