Posted on 04/17/2023 2:43:51 PM PDT by NohSpinZone
Take what happened in the past two weeks: Charlie Javice, the founder of the financial aid startup Frank, was arrested, accused of falsifying customer data. A jury found Rishi Shah, a co-founder of the advertising software startup Outcome Health, guilty of defrauding customers and investors. And a judge ordered Elizabeth Holmes, the founder who defrauded investors at her blood testing startup Theranos, to begin an 11-year prison sentence April 27.
*SNIP*
When Javice was trying to sell her college financial planning startup, Frank, to JPMorgan Chase, she told an employee not to share exactly how many people used Frank’s service, according to an SEC complaint. Later, she asked the employee to fabricate thousands of accounts, assuring her staff that such a move was legal and that no one would end up in “orange jumpsuits,” the complaint said.
After JPMorgan bought the startup for $175 million in 2021, Frank’s investors were quick to take a congratulatory victory lap on Twitter. “So many more students & families will now have greater access to financial aid & #highered opportunities,” an investor at Reach Capital wrote. “It’s so exciting to know you will now have an even bigger platform to make a positive impact on the lives of so many people!” was the praise from an executive at Chegg, which invested.
Javice faces four counts of fraud. This past week, JPMorgan accused her of transferring money to a shell company after the bank uncovered her alleged fraud.
(Excerpt) Read more at sfgate.com ...
But making up phony user accounts is a whole different ball of wax. I hope Ms. Charlie likes wearing orange jumpsuits because that's going to be her future wardrobe for a while.
She looks dumbstruck in that photo, like the reality just set in on her.
I worked for one horribly crooked CEO in a Silicon Valley startup company, but we never went as far as she did. Of course, we were make a free space optical communication system and it was a lot harder to fake hardware than bogus software accounts.
And we should make sure her jail cell is nice and cozy.
I worked for a startup software company that had features for generating reports that had absolutely no code behind them - none of the developers knew how to implement them.
Tech support just told customers that they were doing something wrong and moved on to the next problem. About 1 1/2 years later I finally added code to make the features work. Didn’t tell anybody until about 3 weeks after that release. It surprised everybody ;-)
Students and colleges.
What about the whole student loan sharking paradigm??
>She looks dumbstruck in that photo, like the reality just set in on her.
That appears to be a federal building, judging by the no smoking reference to CFR. Maybe she just got out of the courthouse.
Wow, no code behind the button! I’ve mashed a lot of buttons like that including one just yesterday.
Just another homely, pasty, skinny, liberal white woman.
I’m guessing she’s not a registered Republican.
Is it just me or do leftist women have a certain look that you don’t usually (ever?) find in conservative ladies?
I’ve never worked in the tech sector, in fact I hate most things about tech.
I had a job once where after about a month I figured out that both owners were embezzling from each other. One had a mob boss for a daddy. Both were among the stupidest people I’d ever met. Mob boss daddy was equally a moron. I quit the next day.
“Fake it til you make it” is all about projecting the success you want to achieve, not literal fraud.
Theres often that certain homely (or is ut hoagly?) Look about them.
This one isn’t so hideuos looking but theres that sort of weird Leslie Van Houten lack of beauty to her.
Really. Seriously. My BIL's wife is one. Just one look and you would bet a week's pay she is a flaming libtard. Which, of course, she is.
I admit there is an ad hominin aspect to my comments. But....
So easy. Be sort of cute. Be under 30. Know all the right buzz words. Give “compelling” speeches, and you can dupe people for millions. And let’s face it. Investment bankers see someone like her and want to use the sex appeal of a young techie girl who doesn’t look like a mashed up toad.
Over the decades, I have found that the vast majority of programmers are krap krap krap without an ounce of creativity. Its the difference between a guy who can be trained to torque the bolts on an engine day in and day out and the guy who can design an engine from scratch
“...JPMorgan bought the startup for $175 million...”
So Dimon didn’t do due dilligence and isn’t such a genius after all?
Leaving a federal courthouse realizing your life is ruined probably does not help your appearance.
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Fraudsters can come in very pretty packaging.
Short of a sea change in the underlying culture there, "Fake It 'Till You Make It" in Sillycon Valley will never end.
“Later, she asked the employee to fabricate thousands of accounts, assuring her staff that such a move was legal and that no one would end up in “orange jumpsuits,”
I think orange jumpsuits are in fashion this season.
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