The founder and major shareholder of Affiliate Media Inc., and Casino Affiliate Programs, Lou Fabiano, has issued a statement clarifying the ownership structure of the companies currently involved in the control dispute.
"Warren [Jolly] is 30% share holder. I own 40% and the third share holder is Raj Lahoti not Arjun Jolly," said Fabiano.
"Raj is not related to Warren though they have been acquaintances for years. Mr. Lahoti has no faith in Mr. Jolly’s management skills or the direction he has been taking the company and requested he be left out of the business completely and expressed an interest in selling his shares a few months ago," Fabiano added. "Unfortunately for all three of us Warren’s actions have greatly devalued the brand value of CAP and Affiliate Media Inc. and will continue to do so as long as he behaves as a thief and rogue rather than a business partner."