Join our Waitlist for Expert Advice!

Atlanta Bread Co. CEO Arrested for Alleged Fraud in South Africa

Atlanta-Atlanta Bread Co. president and CEO Jerry Couvaras has been arrested in South Africa for allegedly swindling South African investors out of $5.54 million. Couvaras was arrested in Johannesburg on March 27, nearly 12 years after thousands of South Africans allegedly lost money in an investment scheme that collapsed after two companies were liquidated, according to Johannesburg police.

Couvaras faces charges of fraud and of allegedly contravening the Banks Act by "unlawfully conducting the business of a bank." He allegedly is a key figure behind two investment companies that went into liquidation in 1993. A previous civil lawsuit in that case has been dropped.

A local spokesperson for Couvaras, Rebecca Wallace, said the executive "disagrees with the allegations against him and will continue to contest these decade-old issues."

Company spokesperson Alice Coggin said Couvaras remains the CEO and president of the company and that it is "business as usual" for the Atlanta-based company. -Atlanta Business Chronicle

Want to be an Entrepreneur Leadership Network contributor? Apply now to join.

Business News

Hybrid Workers Were Put to the Test Against Fully In-Office Employees — Here's Who Came Out On Top

Productivity barely changed whether employees were in the office or not. However, hybrid workers reported better job satisfaction than in-office workers.

Side Hustle

At 16, She Started a Side Hustle While 'Stuck at Home.' Now It's on Track to Earn Over $3.1 Million This Year.

Evangelina Petrakis, 21, was in high school when she posted on social media for fun — then realized a business opportunity.

Growing a Business

Founder Mode Means Being a Strategic Micromanager — Here's Why That's Actually a Good Thing

Every leader has to balance staying hands-on and empowering their teams to take ownership of daily operations.

Business News

Gen Z Is Rejecting Office Jobs Due to Commuting and Clothing Costs, a New Study Finds

Workers who go into the office spend thousands more a year than those who don't — and Gen Z is already over it.

Science & Technology

The 2024 Election Will Determine How AI Impacts Your Business. Here's What Entrepreneurs Must Do to Prepare.

By understanding these dynamics, business owners can position themselves to thrive amidst the challenges and opportunities presented by the intersection of AI and politics.