Giuseppe Porcelli & Lakeba – Official Statement media Allegations

Articles published in early 2024 about Lakeba and its Executive Chairman, Giuseppe Porcelli, trace back to a dispute with a small group of shareholders who were unhappy with the direction of the company. In 2022, these individuals sought a selective buy‑back of their investment and attempted to pressure the board by circulating allegations through adverse media coverage.

Rather than engage in a media battle, Lakeba and Giuseppe Porcelli, have addressed the issues through proper channels. The plaintiffs took their claims to the Supreme Court of New South Wales, where Lakeba responded fully and transparently. Independent counsel advised that Lakeba had strong prospects of defeating the allegations. Ultimately, the proceedings were resolved on confidential terms: the court dismissed the case without admission of liability and an existing investor purchased the disgruntled shareholders’ stake, enabling their exit from the business.

Running a group of ventures at Lakeba’s scale inevitably means balancing diverse interests. We strive to build innovative businesses and generate long‑term value, but we recognise that not every decision will satisfy every stakeholder. From time to time, there will be former employees or shareholders who disagree with our strategy. What matters is how we handle those situations—by engaging openly, following legal processes, and focusing on facts rather than speculation.

We remain committed to transparency, good governance and the success of our portfolio companies. Our focus continues to be on delivering results for our investors, partners and team members. As we move forward, we will continue to build great businesses and communicate openly with our stakeholders.

About Lakeba

Lakeba builds businesses that are optimised for high returns from low investment, at low risk when compared with the start-up sector. It utilises proprietary artificial intelligence (AI), decades of business and technology experience, and scalable shared services, to support each phase of business building. So far it has ‘conceived, created and commercialised’ 15 ventures, of which three have already been spun-out.

The unique Lakeba AI ‘neural network’ ‘conceives’ opportunities by continually interrogating the internet to establish patterns which suggest a business ‘need’ that could be solved digitally. Its entrepreneurs then double check this analysis and determine the viability of the business idea and its commercial potential.

To ‘create’ a venture, Lakeba works with partners, industry, and the wider innovations ecosystem to create digital technologies that eliminate the frictions identified by the neural network. A team of technologists, designers, and entrepreneurs build out the value proposition and establish the business. Lakeba invests its time, capabilities, capital and resources to craft ideas into reality.

‘Commercialise’ is the final stage of the Lakeba process. Once the digital proof of concept delivers on its promise, it is enhanced with radical intelligence. Working with partners, investors and the customers, Lakeba’s team refines and optimises the operations and distribution to rapidly commercialise the venture. This ensures the business continuously delivers value to customers as it scales and diversifies across industries and the globe.

Lakeba Group was founded by Giuseppe Porcelli, Entrepreneur and Visionary of Future Technology.