In an apparent move to avoid a financial catastrophe for his company, Texas-based Telllurian’s Executive Chairman Charif Souki sold more than $25 million in shares to cover a loan.
Securities filings confirmed the transfer and sale of Souki’s shares as collateral for a 2017 loan for real estate investments according to Reuters. It reported the LNG company confirmed the sale in filings in February and March with the U.S. Securities and Exchange Commission.
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