(Reuters) – Advantage Lithium Corp said on Thursday it has temporarily replaced Chief Executive David Sidoo as he battles U.S. fraud charges connected to a sweeping college admissions scandal.
The company has named board member Callum Grant, an engineer by training, as interim president and said it would move forward with plans to develop an Argentine lithium deposit.
Sidoo - President - CEO - East - West
Sidoo also stepped down as president and CEO of Vancouver-based East West Petroleum on Thursday.
Sidoo, 59, was arrested last Friday and charged with conspiracy to commit fraud for allegedly paying $200,000 to the scam’s accused mastermind, William “Rick” Singer, to arrange for people to take the SAT admissions test for his two sons, according to U.S. court documents reviewed by Reuters.
Sidoo - Massachusetts - Court - Charges - Attorney
Sidoo plans to travel to a Massachusetts court to face the charges, according to his attorney, Richard Schonfeld, who requested that “people don’t rush to judgment in the meantime.”
Lithium is a key ingredient in electric...
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