They both committed fraud to their investors. I see that Adam Neumann is now wanting to buy WeWork. Why is he not in jail?
In: Technology
The really crazy thing is the Neumann wasn’t a fraud.
He was a salesman who really upsold the potential of his company, and got paid very well for it. He convinced the board of directors – picked by the investors to represent the interests – to let him do stuff that made him lots of money at the company’s expense. But he never lied.
Holmes lied. She lied a lot. And when you lie to investors, that’s fraud.
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