The market value of American scallop producer Mar-Lees Seafood has plummeted since its founder John Lees sold the company for an estimated $22 million (€16 million) in September 2010 to approximately $4 million (€2.9 million) in December 2012, the company's majority owners allege in court documents.
So who ran the company so spectacularly into the ground, and how?
Julius Numavicius, one of Lithuania’s wealthiest individuals and 80 percent owner of Mar-Lees, claims founder and former CEO John Lees “duped” him into purchasing a defunct businesses, and hiring both their respective owners, Carl Masiello and Mar-Lees current CEO Ziad “Zeke” Shahin.
Numerous
