Byju’s founder, Byju Raveendran, is accused of attempting to regain control of his bankrupt education technology firm by secretly using hidden loan proceeds to buy back a software company, Epic!, from US creditors owed over $1.2 billion. A court filing reveals that Raveendran enlisted Nebraska businessman William R. Hailer in this scheme, which ultimately failed. Hailer claims he was manipulated in Byju’s legal maneuvers and is set to testify in federal court regarding the sale of Epic! to benefit creditors.
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