Inside the Singapore Cellos Scandal

Inside the Singapore Cellos Scandal

Inside the Singapore Cellos Scandal

12 year old $100 billion Australian software company with over 200 high level software engineers including 9 PHD’s and 65 Masters, and holding 40 patents, destroyed by former British Telecoms engineer.

A former British Telecoms software engineer has destroyed a $100billion advanced software technology Australian company Cellos Software Limited.

When Kamlesh Patel and his team joined Cellos the Founder Jason Huber, transferred control of Finance and Sales to Kamlesh and his team in Singapore in 2012 while Jason Huber continued to be the CEO.

The Singapore based Management with the new COO Kamlesh Patel then allegedly orchestrated the theft of the company from Huber and his 2000 shareholders, while after nearly two years the Singapore police are yet to act, even after six police reports have been made by the founder and several shareholders. With 40 registered patents and 11 years of R&D, Cellos’ software would have expanded the present “cloud” used by Google and others by 5000%.

Kamlesh Patel, 54, from Walsall, the Midlands, spent 15 years working for British Telecom before moving to Nokia in Singapore for another 15 years then to Cellos Pte Ltd in 2012 , the Singapore subsidiary company of the Australian Parent company. He was recommended to Cellos by Merrill Lynch in Singapore, the worldwide financial giant.

Jason Huber 54, an accountant, FCPA, and father of 4, from Melbourne Australia and former CEO and founder of Cellos who at one time employed 100 software engineers in Australia and 150 in India, says: “Before Kamlesh and his partners ruined the company KPMG, one of the world’s top accounting firms, gave Cellos a valuation of US$94 billion.” and Deutsche Bank had just signed up to raise a pre IPO fund of US$500million for Cellos Software Ltd and list the company on the NASDAQ raising another US$1bill on the IPO.

Kamlesh and his Sales and Finance Team were hired from Nokia in 2012 on the basis of the Kamlesh promise to bring in a contract with Nokia, worldwide telecoms company supposed to be valued at US$100mill per year. The contract was signed and Kamlesh and his team were paid extraordinary salaries and bonuses because of the promised contract and various other huge promised contracts, none of which delivered any revenue to Cellos.

Kamlesh extracted US$5 million as payments including joining fees and salary and then subsequently took another US$300million in shares, out of the company in bonuses. He now rides around Singapore in a Black, US$500,000 Maserati and bought an exclusive $3.2million apartment in Pebble Bay, a very upmarket part of Singapore.

In 2014 he was fired by the Board of Cellos for fraud when none of the contracts he promised from the big telecoms companies and Nokia round the world ever came to fruition. Kamlesh is now allegedly reinventing the history of Cellos, telling shareholders and the public that he is the founder of Cellos and is quietly questions are being raised, some think Kamlesh is ripping off the software and parking it in a new company he has founded called Avenseus Holdings Ltd. Out of the Cellos patented software there are reports he has zeroed in on the technology for data mining and analytics for the Telecommunications industry, the big question? is Kamlesh’s 12 strong team originally from Nokia and all part of this new company benefiting from the theft of the Cellos patented software?

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S. Jack Heffernan Ph.D. Funds Manager at HEFFX holds a Ph.D. in Economics and brings with him over 25 years of trading experience in Asia and hands on experience in Venture Capital, he has been involved in several start ups that have seen market capitalization over $500m and 1 that reach a peak market cap of $15b. He has managed and overseen start ups in Mining, Shipping, Technology and Financial Services.

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