Kapitus Hits Former Top Executive With Trade Secret Theft Claims

Kapitus, a small business lender formerly known as Strategic Funding Source Inc., brought a Delaware lawsuit against former senior vice president Steven Kirincic, claiming he diverted business and trade secrets to his own companies for several years before jumping ship for a rival.

Kirincic “appropriated customer lists and other marketing tools” through “flagrant and purposeful breaches” of confidentiality and noncompete clauses, the complaint says. “Kirincic’s self-dealing was done with the intent of conferring a benefit to himself” and harming Kapitus, it adds.

The suit, made public Wednesday in Delaware Chancery Court, accuses Kirincic of setting up a company called Guin ...