Berkeley CSUA MOTD:Entry 19690
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2025/05/24 [General] UID:1000 Activity:popular
5/24    

2000/11/9-10 [Industry/Startup] UID:19690 Activity:kinda low
11/9    Suppose I form a company and somehow convince one or several VCs
        to give me money.  Like say $5 million.  They will write the check
        in the name of my company. But I then turnaround and give myself,
        as CEO of the company, a $5 million dollar bonus.  And then declare
        the company bankrupt.  Is this possible?  I know it's unethical, but
        what's to prevent me from grabbing the money for myself after I get
        it.  Is this legal?
        \_ You'll be signing a contract 2 inches thick.  Figure it out.
        \_ Yes, it is, but you will have the shareholder majority vote behind
        you to defend it, which is highly unlikely after VCs are through
        with you. You can also count on getting sued. -muchandr
2025/05/24 [General] UID:1000 Activity:popular
5/24    

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