KUBR

Three directors sanctioned for misappropriating $86K and issuing fraudulent shares

Panterra Resource Corp. · Mining and resources

Misuse of raised fundsGovernance failure

The case in brief

Visible before detection

    Checks that could have surfaced it, on hindsight

    1

    Bank credits vs books

    Fund transfer to law firm trust account would appear in bank statements but needed reconciliation with company records

    Can mislead when: AA only sees the accounts the company links, so an undisclosed account stays invisible. Cash-heavy businesses and timing differences create false flags.

    2

    Ownership / related-party links

    Founder's fee shares issued to related entities through intermediary companies

    Can mislead when: Nominee directors and offshore layers hide links. Name matching throws up false positives, so every flag shows its evidence path.

    3

    End-use tracing of funds

    Tracing funds from company bank account to trust account to share purchases would reveal misappropriation

    Can mislead when: Kubr sees only the company's own accounts. Once money reaches a third party's bank, Kubr can flag the payee but cannot see the next hop without that party's consent.

    4

    Books edit log

    Unauthorized entries for share issuances and fund transfers would indicate manipulation of records

    Can mislead when: Logs can be disabled at database level (auditors qualified this in year one) or tampered with on export. Kubr needs the company to cooperate.

    Where Kubr services would have helped

    Financial diligence

    Offered in India
    • C1 Fund transfer to law firm trust account would appear in bank statements but needed reconciliation with company records
    • C3 Founder's fee shares issued to related entities through intermediary companies
    • C12 Unauthorized entries for share issuances and fund transfers would indicate manipulation of records

    Borrower monitor

    Offered in India
    • C1 Fund transfer to law firm trust account would appear in bank statements but needed reconciliation with company records
    • C3 Founder's fee shares issued to related entities through intermediary companies
    • C6 Tracing funds from company bank account to trust account to share purchases would reveal misappropriation

    Proceeds tracer

    Offered in India
    • C1 Fund transfer to law firm trust account would appear in bank statements but needed reconciliation with company records
    • C3 Founder's fee shares issued to related entities through intermediary companies
    • C6 Tracing funds from company bank account to trust account to share purchases would reveal misappropriation

    Portfolio monitor

    Offered in India
    • C1 Fund transfer to law firm trust account would appear in bank statements but needed reconciliation with company records
    • C3 Founder's fee shares issued to related entities through intermediary companies

    Mapped from the checks each service runs. A hindsight reading of public records, not a promise that the failure would have been found.

    A summary of public documents. It reports what the sources say. It is not Kubr's finding and not a statement of guilt.