i-mate CEO says troubles linked to 'major fraud'

The CEO of smart phone maker i-mate on Wednesday spoke out over the company's troubles in Dubai and insisted that the business and brand will continue to live on.

Employees at i-mate's Dubai operation were made aware of the company's financial plight earlier this month.

They were initially told to take compulsory unpaid leave, but last week i-mate's office in Dubai Internet City was closed and phones went unanswered.

source