I don't really see a significant difference between "stealing the IPO cash" and restructuring multiple business entities such that the company's new valuation i

I don't really see a significant difference between "stealing the IPO cash" and restructuring multiple business entities such that the company's new valuation is predicated on increasing revenues, yet those additional revenues will actually be siphoned off via increased expenses to more closely held companies, rather than reinvested into the public entity, or distributed to its shareholders. Who is dumb enough to fall for this nonsense? I get that a lot of public companies make shady sweetheart/nepotism deals with private companies part-owned by their executives and board members, or friends and family of same, but why would you willingly be principal for an untrustworthy agent?