Softbank has come out strongly and has firmly refuted allegations of kickbacks, made against former president Nikesh Arora and Alok Sama, who is the current CFO and president of the firm. These allegations surprisingly, came from the lawyers of anonymous Softbank shareholders, and not any external agents.
Apparently, lawyers of some anonymous Softbank shareholders have accused the company of indulging in improper financial practices. The shareholder has also alleged that Sama, SoftBank President and CFO of its international arm and Nikesh Arora, former president, received kickbacks from the company’s India investments. The party/parties involved in these allegations have also submitted a letter to the Enforcement Directorate.
Both Sama and Arora have of course, denied the allegations stating that the are false.
A Softbank spokesperson provided the following statement to the Mint:
We are aware that certain individuals are waging a malicious smear campaign against SoftBank and its senior executives through a series of defamatory letters. These submissions are based on falsehoods and innuendo, littered with inaccuracies and are a blatant attempt to damage SoftBank’s reputation and that of its respected executives. SoftBank has investigated the matters raised in these letters comprehensively and with the help of counsel, and found these so called allegations to be baseless and entirely without merit.