Re:SEC charges YouPlus and CEO with defrauding investors
by itsoktocry on Tuesday July 21, 2020 @10:04AM
(#23906853)
>Who doesn't do due diligence before investing?
Theranos managed to suck in billionaires like Rupert Murdoch, Tim Draper and Larry Ellison, executives at Safeway, the Walton Family and others. All without working technology or a single peer-reviewed paper regarding their work.
It happens all the time, and is happening as we type this. How?
Re:SEC charges YouPlus and CEO with defrauding investors
by raverbashing on Tuesday July 21, 2020 @01:37AM
(#23904553)
I'd go even deeper
Did they see the product in action? A concept? Or all they saw was powerpoint and empty words
I agree, it's fraud, but I sincerely believe there's a point where "don't blame the victim" stops making sense.
> to have developed a machine-learning tool to analyze videos on the internet
Ah yes of course.
This communication says that the CEO only produced the false bank statements when he was pressed about it. Seems like somebody snapped out of it, did the due diligence that should have done in the first place before signing a check, and realized that this was all smoke and mirrors.