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How a CEO’s Faked Results Led to a $300 Million Wipeout

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Manage episode 481001399 series 3611888
Content provided by Bloomberg. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by Bloomberg or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://ppacc.player.fm/legal.

In late 2018, five years after launching fish-feeding company eFishery, Gibran Huzaifah found himself all out of cash. To save his business, the CEO started plugging fake numbers into financial reports. The brighter picture drew hundreds of millions of investor dollars. But his house of cards was doomed to collapse.

On today's Big Take Asia Podcast, host K. Oanh Ha talks to Bloomberg's David Ramli about the fall of eFishery and what it says about the risks of venture capital investing.

Read more: CEO Explains How He Faked Results in $300 Million Meltdown

See omnystudio.com/listener for privacy information.

  continue reading

63 episodes

Artwork
iconShare
 
Manage episode 481001399 series 3611888
Content provided by Bloomberg. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by Bloomberg or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://ppacc.player.fm/legal.

In late 2018, five years after launching fish-feeding company eFishery, Gibran Huzaifah found himself all out of cash. To save his business, the CEO started plugging fake numbers into financial reports. The brighter picture drew hundreds of millions of investor dollars. But his house of cards was doomed to collapse.

On today's Big Take Asia Podcast, host K. Oanh Ha talks to Bloomberg's David Ramli about the fall of eFishery and what it says about the risks of venture capital investing.

Read more: CEO Explains How He Faked Results in $300 Million Meltdown

See omnystudio.com/listener for privacy information.

  continue reading

63 episodes

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