Dot Com Founder a Most Wanted Criminal

from the involved-in-scams-in-every-decade dept

Here’s a fun one. The founder and CEO of a company called, Michael Fenne, who used $12 million of the $35 million he raised to throw a big Las Vegas party, is in jail. Turns out his name is really David Stanley, and was one of Virginia’s most wanted criminals for pretending to be a stock broker and making off with about a $1 million in the early 90’s. I’m surprised he didn’t just run off with the $35 million in venture money he raised. I guess he really believed he had started a new life, and who can resist a $12 million party and a chance to IPO and make even more…

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