ALT5 Sigma subsidiary criminally liable in Rwanda; board forms special committee to review disclosures

AI Financial Corp

May 7, 2025 Rwanda court found ALT5 Sigma Canada and former principal Andre Beauchesne guilty of illicit enrichment; confiscated ~$3.5M; appeal filed June 6.
Board appointed Special Committee of three independent directors to probe potential misstatements in financials and omissions by management.
Virland Johnson adversary proceeding: U.S. Trustee seeks to recover 329,294 shares or value from ALT5 Sigma over alleged undisclosed stock award.
CFO Jonathan Hugh gets 2025 compensation: $550,000 base salary, 100% target bonus, 66,667 vested shares with clawback if voluntary resignation within year.

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