Mobileum has another lawsuit to deal with, this time brought by its former Chief Financial Officer over the cost of defending himself against criminal fraud charges. Andrew Warner alleges that the company repeatedly acknowledged its obligation to pay before demanding USD20mn in collateral and refusing to advance any fees. His complaint was filed in Delaware’s Court of Chancery on 11 September 2026.
The complaint identifies USD2,294,507.11 in outstanding legal expenses and another USD114,259.73 that Warner had paid personally, as set out in a demand dated 29 June 2026. That amounts to just over USD2.4mn, with further payments sought as the criminal proceedings continue.
Commsrisk first reported HIG Capital’s allegations of inflated revenues in October 2023, followed by a detailed examination of the competing court filings. HIG alleged that it had been misled into overpaying for Mobileum when it acquired control in 2022. Audax denied the allegations and blamed HIG’s subsequent management for the company’s decline.
Our March 2025 update covered Audax’s claim against three HIG-appointed directors, including former BT chief executive Gavin Patterson. Audax alleged that excluding it from a special committee formed to investigate accounting irregularities breached its partnership agreement with HIG. Mobileum still lists Patterson as a member of its board.
In February 2026, we reported criminal charges against Warner and former Chief of Delivery Kishore Vangipuram. US prosecutors allege that the two manipulated financial results and directed employees to create fictitious invoices ahead of the 2022 transaction that valued Mobileum at USD915mn. Both men are presumed innocent and the allegations remain unproven.
