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Indian-origin accused by Hindenburgh of stock fraud; Who is Amrita Ahuja?

The News GlorybyThe News Glory
24/03/2023
Indian-origin accused by Hindenburgh of stock fraud;  Who is Amrita Ahuja?

After shaking up Adani, Hindenburg has come out with a new report, this time targeting an American company. Twitter founder Jack Dorsey’s payments firm Block Inc is facing serious allegations of stock fraud and accounting fraud. Amrita Ahuja, who is of Indian origin, is at the forefront of the allegations. What are the charges against Ahuja? The main allegation she is facing is that she, who is the CFO of the company, has invested heavily in the shares of Block Inc. to increase its share price. Later, when the value rose, the shares were sold.

Block Inc’s CFO Ahuja is reported to have invested millions of dollars in stocks during Covid. Amrita Ahuja’s estimated net worth is $5.15 crore. Amrita currently holds 152 unit block shares. Shares worth $5.2 crore have been sold in the last four years. Amrita Ahuja’s largest stock purchase order in the company was 16,834 units. In addition to the basic salary, a large sum of money including stock compensation and other allowances is received annually.

Ahuja is the daughter of Indian immigrants to America. According to her LinkedIn profile, Amrita Ahuja serves as Chief Operating Officer and Chief Financial Officer of Block. He will become the Chief Financial Officer in February. According to a Wall Street Journal report, Amrita Ahuja’s parents were running a day-care center in America.

Also Read: Adani: Could Hindenburg Impact? 34,900 crore project of Adani has also been put on hold

She previously stated that she was drawn to a financial platform like Block Inc because of her interest in empowering small-business owners like her parents. Block Ink was earlier known as Square Ink.
Amrita Ahuja has also previously worked in strategist and finance manager roles at companies like Walt Disney, Mackenzie Blizzard Entertainment, Activision and Fox Network Group. At Fox, Ahuja was instrumental in launching the streaming service Hulu, The Wall Street Journal reported.

In 2021, she was named to the Forbes list, which recognizes women over 50 who have achieved significant success in their careers. Amrita Ahuja is known as one of the most trusted aides of Block Inc founder Jack Dorsey.

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