CEO of Cyber Fraud Startup NS8 Arrested by FBI, Facing Fraud Charges

Post by gameswithgo » Fri, Sep 18, 2020, 5:46 PM UTC

jedberg wrote: post #24

AdmiralAsshat wrote: post #3

I feel sorry for any CEO who actually steps down to spend more time with his/her family. That explanation has now more or less been completely co-opted by "Our CEO got caught in an embarrassing scandal and they need to fade from the public eye for a bit." I now assume that anyone who gives that reason on their way out must have done something terrible that is yet or about to come to light.

This recently came up when Kellyanne Conway stepped down. She said it was to spend more time with her family, no one believed her, but all evidence points to it really truly being the case. Her husband also stepped down from his job and her daughter stopped tweeting about how much she hates her parents.

Post by liability » Fri, Sep 18, 2020, 5:54 PM UTC

PragmaticPulp wrote: post #43

billyhoffman wrote: post #13

Being an executive at a (substantially smaller) SaaS startup I have no idea how having up to 90% of your revenue be fabricated could happen without others knowing: - where are the contracts corresponding to revenue? Yeah they are SaaS focused on SMB but this is a financial product, there will be contracts, NDAs, etc - if the majority of the customers are fake there is such little load on the system. How does engineer…

None of it makes sense in the context of a well-run business with proper executives in place. That’s because these frauds don’t operate like a well-run business. Usually, the upper management teams are extremely lean. The business is broken up into different silos such that few people can see the big picture. Each is led to believe they are a tiny fraction of the overall revenue, giving them the impression that the b…

Post by CatShitTodd » Fri, Sep 18, 2020, 5:56 PM UTC

pstoica wrote: post #59

edm0nd wrote: post #52

Earlier quoted context omitted.

How much were you being paid a year to do basically nothing?

Decent salary, but that's not the point. I'm distraught to realize I spent 5 months on nothing, and it's not something I'm proud to have or explain on my CV. It's cruel how much money these people throw away, but we were misled into thinking it was real. I wouldn't have taken this position to support such a scumbag.

Post by neallindsay » Fri, Sep 18, 2020, 6:09 PM UTC

Post by jessaustin » Fri, Sep 18, 2020, 6:14 PM UTC

heartbeats wrote: post #64

jedberg wrote: post #28

> It seems ironic that the co-founder of a company designed to prevent online fraud would engage in fraudulent activity himself I don't find that ironic at all. Having worked in the security space for a long time, it seems like the best people in the business are the ones who would be great at committing the crimes if not for their own morality. Someone with a weak sense of morals could easily turn to evil.

Well, it is a cyber fraud startup. They didn't lie about that.