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Eco-friendly carsharing Facedrive announced bankruptcy threat

On September 6, the Facedrive founder Imran Khan announced that the company was heading for bankruptcy. The former president of the Toronto-based company did so after another ex-CEO, Sayan Navaratnam, filed a lawsuit against him in Ontario at the end of 2020. Navaratnam accuses Khan of financial fraud, as he sold a significant amount of the company’s shares, due to which the company's assets were catastrophically depreciated. Facedrive's history began in 2016 as a car-sharing startup and has become...

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