Three directors sanctioned for misappropriating $86K and issuing fraudulent shares
Panterra Resource Corp. · Mining and resources
The case in brief
Visible before detection
Checks that could have surfaced it, on hindsight
Bank credits vs books
Fund transfer to law firm trust account would appear in bank statements but needed reconciliation with company records
Can mislead when: AA only sees the accounts the company links, so an undisclosed account stays invisible. Cash-heavy businesses and timing differences create false flags.
Ownership / related-party links
Founder's fee shares issued to related entities through intermediary companies
Can mislead when: Nominee directors and offshore layers hide links. Name matching throws up false positives, so every flag shows its evidence path.
End-use tracing of funds
Tracing funds from company bank account to trust account to share purchases would reveal misappropriation
Can mislead when: Kubr sees only the company's own accounts. Once money reaches a third party's bank, Kubr can flag the payee but cannot see the next hop without that party's consent.
Books edit log
Unauthorized entries for share issuances and fund transfers would indicate manipulation of records
Can mislead when: Logs can be disabled at database level (auditors qualified this in year one) or tampered with on export. Kubr needs the company to cooperate.
Where Kubr services would have helped
Financial diligence
Offered in India- C1 Fund transfer to law firm trust account would appear in bank statements but needed reconciliation with company records
- C3 Founder's fee shares issued to related entities through intermediary companies
- C12 Unauthorized entries for share issuances and fund transfers would indicate manipulation of records
Borrower monitor
Offered in India- C1 Fund transfer to law firm trust account would appear in bank statements but needed reconciliation with company records
- C3 Founder's fee shares issued to related entities through intermediary companies
- C6 Tracing funds from company bank account to trust account to share purchases would reveal misappropriation
Proceeds tracer
Offered in India- C1 Fund transfer to law firm trust account would appear in bank statements but needed reconciliation with company records
- C3 Founder's fee shares issued to related entities through intermediary companies
- C6 Tracing funds from company bank account to trust account to share purchases would reveal misappropriation
Portfolio monitor
Offered in India- C1 Fund transfer to law firm trust account would appear in bank statements but needed reconciliation with company records
- C3 Founder's fee shares issued to related entities through intermediary companies
Mapped from the checks each service runs. A hindsight reading of public records, not a promise that the failure would have been found.
Same pattern
A summary of public documents. It reports what the sources say. It is not Kubr's finding and not a statement of guilt.