They don't make money from the VC fund. My guess is that the go down this route because of ego. After it bimbos they use the fact they were a GP in a VC fund

They don't make money from the VC fund. My guess is that the go down this route because of ego. After it bimbos they use the fact they were a GP in a VC fund to accelerate their career. After all being a GP in a VC fund you must be good at raising money? Most leaders in business aren't exposed to scammers like this. They would most likely consider the fraudster for a more senior role.