Dot Com CEO Gambled Away Financing In Vegas

from the does-no-one-do-due-diligence-any-more? dept

Apparently there are still plenty of investors who don’t do any sort of due diligence any more. The 23-year-old CEO of a dot com lied about his company to a variety of investors, and then took their money and spent it gambling in Las Vegas. He was arrested yesterday. What I don’t understand is who are the folks who actually gave him all this money and what were they thinking?

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