The co-founder of Texas-based private equity firm Delos Shipping has been found to have diverted cash due to the company to other entities under his control, according to a recent “agreed judgment”.
A Texas judge approved a settlement that found Brian Ladin to have “wilfully abdicated fiduciary duties” owed to Delos and related companies after reviewing evidence in a lawsuit brought by Ladin’s former business partner, Richard Squires.
