Dermot Desmond-backed gold firm gets more time to land major deal after embezzlement case

However, investors in African Gold Acquisition Corporation have asked to redeem much of the cash they put up for acquisitions

The company’s former chief financial officer embezzled millions of dollars from the firm.

Dermot Desmond’s African Gold Acquisition Corporation has gotten an extension on its deadline to complete a major deal, but investors have asked to redeem $368 million of they cash they put up for acquisitions.

It means that African Gold can now give itself an extra year to pull off a significant acquisition, but with slightly less than $50 million in its trust account with which to do so.

African Gold Acquisition Corporation is a special ...