Bridges are Burned When it Comes to Lotus and Their Ex-CEO

In what seems like a very bitter divorce, Lotus claims that ex-CEO Dany Bahar spent company money on his extravagant personal lifestyle therefore is retaliating with a lawsuit. According to Lotus, Bahar left the company with bills for his chauffeur, helicopter travel, and 10 luxurious wristwatches. Lotus is looking to recoup around $2.5 million for overpaid salary and bonuses, as well as unauthorized expenses. On the other hand, Bahar is seeking close to $11 million in a lawsuit of his own against Lotus for wrongful dismissal.

Reports say that Bahar rented and upgraded two properties in the U.K. costing $1.6 million, and it just so happens that Lotus paid for that too. Close to $5,000 was spent on watches that Bahar claimed were for Lotus managers and expenses for travel added up to over $1.9 million. “The spending pattern of the group was not justifiable or sustainable, including the lavish lifestyle of the claimant who appeared to have ignored internal controls,” Lotus claimed.

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