Anthony Nantes, the former chief executive of consumer lender Wisr, is facing unspecified criminal charges, the company revealed yesterday.
On August 16, Wisr announced that it had terminated Nantes, effective immediately. The board appointed chief financial officer Andrew Goodwin as his replacement.
In an update yesterday, the company said Nantes’ termination was not the result of “any financial irregularity or regulatory contravention” and it continues to conduct business as usual.
It said the matter was before the courts and it could not comment further.
In a separate statement, Wisr chair John Nantes, said he would take a two-month leave of absence to avoid a conflict of interest while the board sorts out Anthony Nantes’ termination arrangements. The two are brothers.
John Nantes said in a statement that he was not involved in deliberations that led to the CEO’s termination but he supported the decision.
The chair of the audit and risk committee, Matthew Brown, will serve as interim chair.