I'm thinking of the venture capital community today as SVB Financial goes down for the count. I feel bad for the bank's employees, but could not care less about the bank's clients - the venture capital community at large. How did the FTX fraud come to be? There were two key components to the FTX … Continue reading Fraud Preys On A Lack of Due Diligence
We plan to publish content on companies we believe are fraudulent. We will focus on small-cap companies as it is easier to move the needle there versus mid-cap and large-cap companies. Case in point, when we did work on Cintas (CTAS) in 2017 nobody seemed to care that Cintas regularly overbilled customers to goose reported … Continue reading Corporate Fraud
Fraud Usually Does Not Pay…
...Not even for Sam Bankrun Fraud. Good to see that Sam Bankrun Fraud was arrested tonight around 6pm ET at his residence in the Bahamas. The U.S. Attorney for the Southern District of New York will unseal the indictment on Tuesday morning. You leave yourself exposed to fraud when you pass on due diligence. Fraud … Continue reading Fraud Usually Does Not Pay…
50/50 Odds On Bankrun-Fraud’s Freedom
50/50 odds on Bankrun-Fraud's freedom. 40/60 odds on his long-term survival. Corzine got away with it. Will Bankrun-Fraud? Former Goldman Senior Partner Jon Corzine commingled funds at his hedge fund - MF Global - a decade ago losing $1.6 billion in customer funds (they were recovered), and got away with a slap on the wrist. … Continue reading 50/50 Odds On Bankrun-Fraud’s Freedom
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