Joonko files for Chapter 11, plans to distribute remaining $4.25 million to investors

The startup’s operations effectively came to an end last summer after Ilit Raz, the former CEO of Joonko, left the company amid allegations from the board that she “engaged in egregious, unethical, and fraudulent conduct.” After leading the investigation on behalf of the investors and the management, COO Ilan Band is now seeking to complete the closure of the company