I’m legit impressed he was able to make $8 Million of ill-gotten funds go that far.
I’m kinda impressed that he had his own island and blimp fleet like a proper Bond villain. Most of these fraudsters just blow it on exotic sports cars.
Would have been better if he fled the authorities in his blimp though.
No this is fraud. “Risky business decisions” is if you borrow money from a mafia-connected-loan-shark, and your “investment strategy” is winning big in Vegas so you can pay them in full before they start breaking your fingers/legs/etc.
Right in line with Startup Bro culture, see Airbnb, Uber and Tesla.
He acknowledged he should have relied on experienced consultants to help with his loan applications instead of taking what he called “unnecessary risks” with poor strategy.
His attorney probably got a concussion from banging his head on his desk so hard after reading about this interview. Judges tend to not view a lack of remorse very kindly when it comes to sentencing. Not that I expect him to get the maximum sentence anyway, but this increases his chances of actually serving jail time.
risky and aggressive business decisions that he now admits were “idiotic.”
And that he now is learning were also “crimes”. People steeped in late-stage capitalism often need that reminder.
He’s just building the necessary career foundation to achieve his lifelong dream of managing a boy band.
Eight million that could have been used to clear 10k in student loan debts for 800 people, instead of going to this hero of capitalism.
We can only hope that the feds are willing to follow through on reifying the risks for him. Hard.
He should have tried using the George Costanza defense: “is that bad? No one told me buying a private island with PPP funds was bad.”
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