7 ms·
It's definitely not uncommon. Illegal? Should be, the question is how they got paid and for what. There are so many C-level shills these days, it's sickening.
by windexh8er 2y ago
It's definitely not uncommon. Illegal? Should be, the question is how they got paid and for what. There are so many C-level shills these days, it's sickening.
- lmeyerov 2y agoEverything is securities fraud, so a payola consortium pumping Wiz through funding rounds sounds bad. Wiz is great, so the question is if they are > $23B great, and how they got there. And more so, why would a gov prosecutor bet on this case over others, or a private investor who has shares & reputation at risk. OTOH, maybe The Honest Services Statute where CISOs violate their fiduciary duty by prioritizing security/risk budget & focus to a VC paying them. I don't see most impacted companies making this public vs a warning or voluntary resignation. It clearly happens a lot, but the only successful prosecution I remember was at Netflix: https://www.justice.gov/usao-ndca/pr/former-netflix-executive-sentenced-30-months-bribes-and-kickbacks-netflix-vendors https://www.justice.gov/usao-ndca/pr/former-netflix-executiv... . A funny thing is the VC is doing all this semi-officially: many but not all of the illegal bits go away - the gov has less to prosecute on when everyone files their taxes accurately !