Adler Group – The Whistleblower vs The Lawyer

Author: Viceroy Research Published on: October 12, 2021 Published in: Adler Group ETR:ADJ

Viceroy have obtained the 12-page whistleblower report mentioned a recent Bloomberg article.

Viceroy received the report anonymously just prior to our previous publication on Adler Group but Bloomberg make it clear that management and major stakeholders were aware of this information as early as March.

Additionally, Viceroy received a cease-and-desist letter from Dr Ben Irle representing Cevdet Caner on October 11, 2021. The letter does not even attempt to disprove our collected evidence of undisclosed related party transactions instead relying on unsupported claims of impartiality and ignorance of our extensive referencing of sources.

We think it is prudent that these two documents be published together. The whistleblower report speaks to substantially more related-party connections between Adler and Caner and highlights numerous other suspicious transactions which we are now looking at in closer detail.

Viceroy have removed certain addresses and other information at our discretion which we do not believe are relevant for the purposes of assessing the Caner/Adler relationship.

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