EquipmentShare Bonds Plunge Amid Boardroom Fraud Allegations
EquipmentShare’s bonds have reportedly plummeted following explosive legal claims from a former board member. Neil Chheda alleges he was removed after raising concerns about questionable contracts benefiting the controlling Schlacks family. The controversy highlights the risks in private bond markets fueling rapid corporate expansion.
EquipmentShare, the Missouri-based construction equipment leasing company that’s been on a rapid growth trajectory, is now facing serious turbulence in the bond markets. According to financial industry reports, the company’s privately placed bonds saw sharp price declines Friday as a bitter legal dispute with a former board member escalated into public view.