4 ms·
Not at all my field of experience (nor any of my business), but wouldn't such a thing come out during "due diligence", long before the company was bought?
by jaclaz 4y ago
Not at all my field of experience (nor any of my business), but wouldn't such a thing come out during "due diligence", long before the company was bought?
- danrocks 4y agoShe dodged this using some hand waving about student data being private customer data so she couldn’t share it with the bank.
- jaclaz 4y agoI see, but the bank accepted the hand waving, once said that clearly there is some form of fraud committed, it seems to me that JP Morgan was gullible enough to fall for it. I have no idea on how such a business deal is agreed upon specifically, but if - as it seems to me reading the article - JP Morgan essentially wanted to buy users (in a given niche) it seems weird that they didn't find a way to check that these users existed.
- ufo 4y agoApparently the arrangement involved a 3rd party to do the due diligence and they were the ones that got duped.