Karachi January 6 2021: TRG Pakistan hit lower lock in today’s trading session at Pakistan Stock Exchange as Telegraph in its story reported that Disgraced Afiniti founder Zia Chishti plots comeback weeks after quitting over harassment claims.
The entrepreneur is trying to rejoin the board of TRG Pakistan, an investment firm that is the biggest shareholder in Afiniti. David Cameron, Princess Beatrice and other high profile names have been involved with Afiniti.
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A technology entrepreneur facing sex assault allegations is plotting a comeback at his star-studded business just weeks after being forced to quit.Zia Chishti is seeking a return to the business empire behind Afiniti, a software company where Princess Beatrice works as an executive and which until recently employed David Cameron as the head of its advisory board.
Mr Chishti is attempting to rejoin the board of TRG Pakistan, the investment firm he was ousted from in November. His mother and half-brother and two long-time associates have also sought election in an apparent effort by Mr Chishti to wrestle back control of the company.TRG Pakistan is the biggest shareholder in Afiniti, which boasted a high profile list of former world leaders as advisers and was preparing for a US listing until November, when Tatiana Spottiswoode, a former junior employee, accused Mr Chishti of sexual abuse and harassment.In testimony to Congress, Ms Spottiswoode said Mr Chishti had violently assaulted her while on a work trip as part of a pattern of abusive behaviour.In November, Mr Cameron resigned and Mr Chishti was forced to step down from the Bermuda-based company, whose customers include Sky, Virgin Media and AT&T.
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Mr Chishti, 50, has said he disputes the allegations and called Ms Spottiswoode’s claims “erroneous”, but he was ousted as TRG Pakistan’s chief executive shortly after as pressure grew on his position.
After he resigned, the company said it would launch a new investigation into the claims, hiring a former US government prosecutor to look into the allegations.TRG Pakistan owns a 45pc stake in TRG International, a subsidiary that owns 38pc of Afiniti. When this was combined with his personal stake, it gave Mr Chishti effective control over Afiniti when he was running TRG Pakistan.On Tuesday, TRG Pakistan said in a notice to the Karachi Stock Exchange that Mr Chishti had nominated himself for election to its board, alongside his elderly mother Sadia Chishti and his half brother George Lear. Ioannis Demetriades and Jose Ignacio Guerra Holguin, two close associates of Mr Chishti, have also been nominated. Mr Chishti controls around 15pc of TRG Pakistan, which under election rules should enable him to appoint himself at a minimum. Along with other allies he may be able to gain control of the board.
TRG Pakistan said it opposed Mr Chishti’s manoeuvres. “TRG opposes Mr Chishti’s efforts to rejoin the board of directors or putting up his family members or associates as director candidates. If he does so, Mr Chishti will be in breach of his contractual obligations to the company and other investors.”
Shareholders are due to vote on appointments next week. Mr Chishti may muster support from other investors including Ali Siddiqui, Pakistan’s former ambassador to the US, who sits on Afiniti’s advisory board.Mr Cameron stepped down as the advisory board’s chairman the day after the allegations against Mr Chishti emerged, while other advisers including the former US defence chief Mike Mullen also resigned.
Princess Beatrice, Afiniti’s vice-president of partnerships and strategy, remains at the company and is on maternity leave.
Mr Chishti did not respond to a request for comment.
