Tech firm admits watchdog probe

A TECH firm whose boss turned out to be a fugitive is now being probed by the City watchdog.

Telit Communications yesterday said it wrote to the Financial Conduct Authority in August asking it to look into ‘various matters which were of concern’.

While the FCA has not launched a formal investigation, it is making enquiries into the firm.

A Telit spokesman refused to confirm whether the exchange was in relation to Oozi Cats, 56, its former chief executive.

Cats, also known as Uzi Katz, was accused of being a fugitive in August after it emerged he was charged with fraud in the US in the 1990s. Telit’s board hired investigators to look into the matter and Cats, who lives in Italy, resigned.