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A comment on Canoo spent double its annual revenue on the CEO's private jet. Parent comment

Re:Canoo spent double its annual revenue on the CEO's privat... by TRDRVR on Wednesday April 03, 2024 @12:31PM (#39919513)
>He is effectively paying for these flights by buying Canoo stock.

If a CEO is intentionally creating a situation to make a company unprofitable and paying it back by buying shares, that is 100% securities fraud and I'm stunned anyone disagreed with that assertion.

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Re:Canoo spent double its annual revenue on the CEO's privat... by fnordpiglet on Wednesday April 03, 2024 @12:57PM (#39919886)
Yes but that’s actually not what’s happening, so seems a bit of a non sequitur.
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Re:Canoo spent double its annual revenue on the CEO's privat... by TRDRVR on Wednesday April 03, 2024 @02:10PM (#39920882)
Yes. I agree. That was the point I was making.

I'm not saying the company is committing securities fraud, I am saying that if the company created a scheme as described by the commentor I was replying to, then that would be securities fraud.

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