Of course there were co-conspirators. If the company had a CFO then "between 40% and 95% of NS8's assets were made up" is simply not possible. If a CFO or any other officer of the company remained unaware of this then they should be arrested for another type of fraud. Surely an exec would've caught on at some point in the past 18 months.
Every bubble (tech, real estate, financial, whatever) is always going to have its share of frauds. This is small potatoes compared to something like Theranos, but it does seem like there's a lot of fraud surrounding early stage VC-backed companies.
One thing that's unclear to me reading the complaint is that it looks like it was venture capitalists who were tricked, not public market customers. Do all the same securities fraud rules apply to selling to VCs as well? I thought the whole idea of a VC firm is th
VCs expect to lose some money, because not every business is successful. Fraud is a legal issue, and is not the typical reason (at least not to this extent) that businesses fail. The VC is unlikely to get their money back in this case, because you can't get refunds on hookers and blow.
if he hadn't any co-conspirators?
Of course there were co-conspirators. If the company had a CFO then "between 40% and 95% of NS8's assets were made up" is simply not possible. If a CFO or any other officer of the company remained unaware of this then they should be arrested for another type of fraud. Surely an exec would've caught on at some point in the past 18 months.
Every bubble (tech, real estate, financial, whatever) is always going to have its share of frauds. This is small potatoes compared to something like Theranos, but it does seem like there's a lot of fraud surrounding early stage VC-backed companies.
One thing that's unclear to me reading the complaint is that it looks like it was venture capitalists who were tricked, not public market customers. Do all the same securities fraud rules apply to selling to VCs as well? I thought the whole idea of a VC firm is th