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Right, it doesn't change the direction of criminality. But nonetheless JPM is out that money regardless (maybe some will get clawed back, but probably most of
by ajross 1y ago
Right, it doesn't change the direction of criminality. But nonetheless JPM is out that money regardless (maybe some will get clawed back, but probably most of it was spent). "I got scammed and the perp is going to jail" isn't a good excuse to tell your boss about you lost $175M, either.
Lessons abound here. Slow down on the tech habit folks, especially if you're an investment bank and not a VC incubator.
- fsckboy 1y ago>JPM is out that money regardless ... probably most of it was spent an MBA entrepreneur who starts a business and sells it to you for $175 million through normal channels is not likely to spend the money. this wasn't a fund wiring scam.
- HWR_14 1y agoUnless they spent it on crypto or buying property in a country that won't let you claw it back.
- deleted 1y ago[deleted]
- yokumfloster 1y agoShe never had the full proceeds in her possession. Remember, she had investors. She was venture-backed startup. She likely only had somewhere between 10% and 25% of the equity at the time that she sold the company.
- TuringNYC 1y ago>> She never had the full proceeds in her possession. Remember, she had investors. She was venture-backed startup. She likely only had somewhere between 10% and 25% of the equity at the time that she sold the company. How does this work for the VCs? Does JPMorgan claw back money from the VCs? What if the VCs distributed to their LPs...does money get clawed back from the LPs?