Former Braidy CEO fires back over critical report he deceived company's board, investors

LOUISVILLE, Ky. — Former Braidy Industries CEO Craig Bouchard on Tuesday responded to a scathing report from the company alleging he deceived its board and investors for years about Braidy's finances for its proposed $1.7 billion aluminum mill near Ashland.

In a 900-word post on his Facebook page, Bouchard — who was fired by Braidy's board in January and subsequently sued the company — wrote: "I vigorously disagree with the findings and conclusions set forth in that report."

The contents of the 49-page report — compiled by the Frost Brown Todd law firm — were filed in a motion to the lawsuit in Delaware last week.

In addition to raising questions about his "ethics, judgment and willingness to expose Braidy to risk and potential liabilities," the report stated Bouchard told investors the proposed mill touted to revitalize the Eastern Kentucky region could be moved to Mexico and the company had only $11 million cash on hand in January.

Read more: https://www.courier-journal.com/story/money/2020/04/29/braidy-industries-former-ceo-fires-back-board-over-critical-report/3046540001/

Recall that In April 2019 Braidy announced a joint project with RUSAL, a Russian company partially owned by the oligarch Oleg Deripaska.