Two Charged Over Mobileum $915 Million Private Equity Sale

Two former executives at Mobileum Inc. were charged with fraud over the 2022 sale of the telecom software company for $915 million in a private equity deal.

Andrew Warner, Mobileum’s former chief financial officer, and the company’s former chief of delivery, Kishore Vangipuram, were charged with artificially inflating its value in the sale from Audax Groupto rival H.I.G. Capital. Before filing for bankruptcy in 2024, Mobileum provided data analytics and network solutions to companies around the world.

Warner and Vangipuram manipulated how employees billed pending projects to make them appear “significantly closer to completion than was factually accurate,” ...