Nic Frangos was a non-executive director of Corpcapital and part of the founding consortium in 1996. He discovered accounting irregularities and other practices by the management team, under CEO Liebesman, which concerned him. After repeated unsuccessful attempts to get the board to take appropriate action, he resigned as a director on 2 December 2002.
Media coverage on resignation
Business day 220103 – Is it just business or is it greed and aggression
Business Day 141004 – The nasty and turbulent years at Corpcapital
Finance Week 111202 – A Greek tragedy
Finance Week 111202 – Standing by his conscience
Financial Mail 240103 – Dog Corpcapital
SENS 021202 – resignation of director