Mineral Resources, a major Australian mining company, is facing a crisis after its founder and managing director, Chris Ellison, stepped down amidst allegations of tax evasion and misuse of company funds. The company is now under investigation by the Australian Securities and Investments Commission (ASIC) and the Australian Taxation Office (ATO), and has been downgraded by Moody’s Investor Service. Ellison’s departure, coupled with governance lapses and financial penalties, raises questions about the future of the company.