Charge Enterprises Files Lawsuit Against Founder for Missing Funds

Charge Enterprises has taken legal action against its founder, Kenneth Orr, and his company, KORR Acquisitions Group, after uncovering missing funds. According to a regulatory filing, the provider of electrical, broadband, and electric vehicle charging services discovered that certain company funds managed by Orr were unexpectedly unavailable, leaving Charge unable to meet its financial obligations.

In response, Charge Enterprises filed a lawsuit in the Supreme Court of New York on Monday, alleging that Orr and other parties involved breached their fiduciary responsibilities. The company is seeking equitable relief and damages exceeding $15 million. Orr has yet to comment on the matter.

Upon investigation, Charge revealed that KORR had informed them that approximately $10 million of funds were invested in limited partnership interests. However, Charge now believes that these assets were never held or accounted for as limited partnership interests, raising concerns about the legitimacy of the limited partnership agreement produced by KORR.

Furthermore, it was discovered that the misappropriated funds had been redirected to accounts benefiting other companies affiliated with Orr, a direct violation of the prior agreement.

The New York-based company is determined to hold Orr and the others involved accountable for their actions. As the legal battle unfolds, Charge Enterprises is committed to seeking justice and recovering the missing funds.