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ENOB.US
C.D. California
Court
On May 25, 2022, a press release was issued by the Department of Justice that Dr. Serhat Gumrukçu, an inventor and co-founder of the Company, has been arrested and charged with serious crimes that are reported to have occurred before the merger which created the Company of today.
On this news, Enochian’s stock price fell by 36.97%.
On June 1, 2022, Hindenburg Research published a report on Enochian that noted that the individual in whose murder Gumrukcu was implicated, Gregory Davis, “was murdered . . . just 19 days before Gumrukcu was scheduled to appear in court to defend himself against felony fraud allegations related to a 2016 deal with Davis” and that “federal prosecutors argued that the prospective merger deal that eventually resulted in Enochian going public served as a key motive for the murder.”
The Hindenburg Report also stated that “unbeknownst to investors (but known to Enochian’s senior leadership) Gumrukcu’s latest arrest for a murder conspiracy is simply the most recent in a string of alleged crimes by Gumrukcu,” who “was arrested based on accusations of falsely posing as a doctor” in his native Turkey in 2012 and “in February 2017, Gumrukcu was arrested by authorities after the State of California accused him of a slew of white-collar crimes, including fraud, identity theft, and check kiting – a total of 14 felonies.”
The Hindenburg Report further states that “we have been unable to find any jurisdiction in which Gumrukcu is licensed as a medical doctor” and that “Gumrukcu looks to have purchased a fake Russian medical degree on the black market.”
On this news, Enochian’s stock price fell by 28.42%, to close at $3.76 per share on June 1, 2022.
Considering that the Company is public, has a listing on NASDAQ and its activities are associated with regulated activities, the current situation raises questions, not only about the fault of the major shareholder but also about the negligence of the Company's management and regulatory bodies, which should have carried out KYC and Due Diligence procedures more carefully within their statutory duties.
Alleged Offence
Mismanagement
Fraud
Failure to Disclose
Malpractice
Negligence
Breach of Fiduciary duty
Omissions
Suspected Party
Directors
Management
Shareholder
Influencer
Government Authority
Investment Bank
Service Provider
Security Type
Stocks
Trade Direction
Long
Shock Event Date
25 May 2022
Collecting participants…
Created by Stan Vick, Scout

Enochian Biosciences Inc

Enochian Biosciences, Inc., a pre-clinical stage biotechnology company, engages in the research and development of pharmaceutical and biological products for the human treatment of human immunodefi...

    Ticker
    ENOB.US
    ISIN
    US29350E1047
    CIK
    1527728
    Sector
    Healthcare
    Industry
    Biotechnology
    Country
    USA
    Address
    Century City Medical Plaza, Los Angeles, CA, United States, 90067-2012