Zoho: The Wife Of Zoho CEO Accuses Him Of Fraud, She Blames His Uncle For Creating A Family Crisis2 min read
There are allegations Zoho CEO, and Co-Founder Sridar Vembu’s wife accused him of fraud in a petition filed in a California court. Vembu, in a tweet thread, denies the allegations and says that his uncle has orchestrated the family crisis. On Tuesday, Zoho CEO and Co-Founder Sridhar Vembu took to Twitter to post a lengthy thread, denying allegations that he was trying to cheat his wife, who had filed a case in California court in January. According to the court report by Forbes, Vembu’s wife, Pramila Srinivasan, noted that her husband had “abandoned” her and their “son with special needs” in the US in 2020. She stated that he also shared some Zoho shares owned by them “without telling me or asking my permission.” In her filing, she said, “My husband of 29 years abandoned his son and me with special needs in 2020.” “(And) he decided to make fictitious transfers or ‘sales’ of our most valuable community asset to his family members without their paying any cash or other consideration, and without ever telling me or asking my permission.”
Two major allegations are: First, Vembu left his wife and adult son with special needs behind in the US in 2020. Second, he shared some of their shares with his relatives without discussing it with his wife. In California, according to Srinivasan’s lawyer, who spoke to Forbes, “the community property law does not allow a spouse during marriage to secretly dispose of assets without obtaining the other spouse’s consent.”
Forbes reports note that while Vembu has run Zoho for nearly two decades and is its co-founder and CEO, the company is mostly owned by his sister Radha (47.8% stake) and his brother Sekar (35.2 shares stake). A few hours later, Vembu took to Twitter to deny the allegations. On a more personal note, Vembu said allegations in the Forbes report were false and that his uncle Ram was the mastermind behind the family crisis.
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