Hi Partners,
It’s been an interesting 48 hours after the news broke of an allegedly fraudulent investment led by one of our ex partners, Amberjit Endow. It appears that Amberjit leveraged his personal networks inside and outside the firm to attract investors and unfortunately a number of Deloitte partners have been personally impacted.
There has been some speculation in the media about me personally and I can confirm that I was an investor, based on an initial approach from Amberjit. Like the other partners involved, this investment was in a purely personal and private capacity in line with our partner policies. My interactions regarding this investment have always been directly with Amberjit and at no time have I ever encouraged anybody else to be part of this investment. In The SMH and Age articles this morning, it is alleged that Amberjit used my name to attract other investors. If true, this was done completely without my awareness or permission, and I am appalled and extremely disappointed that my name would be used in this way.
In the interests of openness and transparency, something you know I believe to be a critical element of our culture, I have decided to release a personal statement to the media which I have attached. At the end of the day, I take full accountability for my personal investment decisions and the outcomes associated with these decisions.
As I remind myself on a regular basis, it is always important to reflect and learn along the way. And I can assure you, I have learnt a few salutary lessons from this experience.
Enjoy the rest of your week.
Adam.
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