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I'm waiting for Sequoia to be put in jail.
by ilrwbwrkhv 4y ago
I'm waiting for Sequoia to be put in jail.
- jacquesm 4y agoIt will be a long wait, unfortunately. More likely: Sequoia will be shouting from the rooftops that they too are victims.
- stickfigure 4y agoThey... literally... are? The SEC has charged SBF over exactly that.
- akiselev 4y agoIANAL but that depends on what their agreements with LPs were, doesn’t it? The managing partners have a fiduciary duty to the fund so couldn’t they be held criminally liable if they failed to do some due diligence stipulated by an LP?
- jacquesm 4y agoNormally these things are all agreed at the time of the original commitment and the closing of the fund, so assuming there are LPs each and every one of them should have a copy of the obligations of these funds.
- sam345 4y agoI'd be interested in the theory. Their investors aren't exactly mom and pop operations. But I do agree that their promotion of SBF was asinine though that's all clear to the world now. And I'm not in favor of criminalizing bad investments. Sets bad precedent and incentives.