Accountants quit Gizmondo's parent company

The accountancy firm for Gizmondo's parent company, Tiger Telematics, has resigned due to lack of funds and the company's failure to investigate allegations of fraud from former company directors.

Law firm Goldstein Golub Kessler LLP has officially resigned as a result of "questions about management integrity" and "the company's inability to complete its investigation of certain former officers and directors due to a lack of funds."

An SEC filing further reveals that the law firm may also be owed money for its services thus far, and will no longer be dealing with Tiger Telematics as result.

Tiger Telematics has been struggling to continue trading following the much publicised collapse of Gizmondo Europe earlier this year, the company's massive debts somewhat overshadowed by persistent reports of fraudulent activity and mafia connections relating to former executives at the firm.

Whilst the company may be unable to complete its internal investigation, the liquidators dealing with the collapse of Gizmondo Europe are currently undertaking their own investigation, which may shed further light on the alleged fraudulent dealings of former executives at the handheld firm.