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So, assuming what’s reported in that article is true, is Russia a black hat finance bug bounty hunter of sorts? They identify ongoing high-profile fraud in West

So, assuming what’s reported in that article is true, is Russia a black hat finance bug bounty hunter of sorts? They identify ongoing high-profile fraud in Western countries and use that leverage to turn the executive into intelligence assets? Or is it the other way around? He was already working with Russia and then just happened to commit massive fraud at the same time? I guess I’m just having a hard time understanding how a person can get themselves into such a situation. I can’t believe it’s just greed that allows it to happen but perhaps that’s naive of me.

jacquesm 6y ago
You can bet your bottom dollar that Russia and Russia backed entities (as well as Chinese) are spending a lot of money to try to gain footholds in Western Europe and America through all kinds of schemes. Whether this was one of those is up for grabs, it could easily be. But it is a fact that these things are happening. How they might get themselves into such a situation? Just one sample: The company might have been in financial trouble, not able to fulfill its obligations in the short term, and so a decision was made to pull in some Russian 'cheap' capital for a short term loan. There is a very large amount of illicit Russian money flowing around and it pops up in the most respectable places. So it isn't necessarily just greed, it could be that the investor that you are taking on board in turn is a front for that sort of capital (always ask for the source of the capital from your investors, if they are coy about it then better go somewhere else), or that the founders are too naive to realize that they are making deals with people they should stay away from (see comment above for my own personal story).
- mschuster91 6y ago
  > or that the founders are too naive to realize that they are making deals with people they should stay away from Given that there are reports that Marsalek tried to put up 15.000 mercenaries to take over Libyan border controls (possibly with a relation to the politics of his homeland Austria and it's anti immigration policy!), it may very well also be that Marsalek knew what he was getting into and went all in out of a search for fame, a real life Austrian 007.
  - harha 6y ago
    Well yes, but a bit more like the villain in a low-budget Austrian 007 parody.

jacquesm 6y ago

You can bet your bottom dollar that Russia and Russia backed entities (as well as Chinese) are spending a lot of money to try to gain footholds in Western Europe and America through all kinds of schemes. Whether this was one of those is up for grabs, it could easily be. But it is a fact that these things are happening. How they might get themselves into such a situation? Just one sample: The company might have been in financial trouble, not able to fulfill its obligations in the short term, and so a decision was made to pull in some Russian 'cheap' capital for a short term loan. There is a very large amount of illicit Russian money flowing around and it pops up in the most respectable places. So it isn't necessarily just greed, it could be that the investor that you are taking on board in turn is a front for that sort of capital (always ask for the source of the capital from your investors, if they are coy about it then better go somewhere else), or that the founders are too naive to realize that they are making deals with people they should stay away from (see comment above for my own personal story).

mschuster91 6y ago
> or that the founders are too naive to realize that they are making deals with people they should stay away from Given that there are reports that Marsalek tried to put up 15.000 mercenaries to take over Libyan border controls (possibly with a relation to the politics of his homeland Austria and it's anti immigration policy!), it may very well also be that Marsalek knew what he was getting into and went all in out of a search for fame, a real life Austrian 007.
- harha 6y ago
  Well yes, but a bit more like the villain in a low-budget Austrian 007 parody.