Despite DLM Trust pulling out as the chosen escrow manager, Patricia Technologies said it would still go ahead with its plans to start paying back its customers on November 20.
The company said it was “shocked by DLM Trust Company’s sudden and unilateral decision to terminate our partnership” in a statement signed by its CEO, Hanu Fejiro. It also said that the move happened after it had put some money into the company’s account to help with the bills.
In response to DLM Trustees’ strategic partnership announcement, Patricia, CEO and Founder Hanu Fejiro, said, “This partnership is part of our efforts to rebuild trust and reassure depositors of our commitment to repay them fully and fairly. DLM Group is a trusted trustee organization that will help make repayment transparent, quick, and fair.”
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Patricia’s recent problems
It was a big blow for Patricia Technologies when it was attacked online, and depositors’ money was stolen. Patricia briefly stopped withdrawals on its platform as a safety measure to deal with the problem and protect its users’ interests. The event caused much trouble for Patricia, its users, and other important people.
Patricia Technologies has been tireless in regaining user trust since the cyberattack. After a thorough strategy to raise loans and equity, the organisation is ready to move forward.
Fejiro said he was glad to cooperate with DLM Group to manage depositor assets.
“We are confident that they will help us manage and repay our depositors quickly. This should assure our clients that we are here for the long haul and have their best interests in mind.”
DLM Trust Company brings much information and experience to this partnership because it is a licenced SEC Trustee. As the leading job of this group, they make sure that the process of returning clients’ money is straightforward, safe, and follows all the rules.
Managing Director and CEO of DLM Trustee, Mrs Lola Raazaq, reaffirmed her team’s dedication to the partnership: “We are committed to helping Patricia Technologies repay its depositors and rebuild trust.” She said. Lola Raazaq said, “We have a history of handling complicated financial transactions, and we will use that experience to ensure that the repayment process is fair and clear.”
DLM Group will also advise Patricia Technologies on the complicated process of regaining trust and improving financial procedures. The agreement shows both organizations’ dedication to Patricia’s users and a brighter, more resilient future.
Patricia’s resilience and determination to improve are shown in this partnership. The company is confident that DLM Group would help it make things right for its depositors. Fejiro said.
As proof of its commitment to its depositors and determination to stay, Patricia has been working from home for several months to strengthen its systems. As part of a larger plan to reclaim its market position, the company is getting ready to relaunch its platform at a date that will be announced soon.
Along with our e-launch plan, a payment strategy and plan will be shared in the next few days, Hanu said.
