HyperVerse's collapse caused an estimated $1.3 billion in customer losses.

Now that is how you run a proper scam.

Take notes, kids!

  • ArtieShaw@kbin.social
    1·
    2 years ago

    This is delightful. The whole thing is worth a read, but I want to leave this here.

    In 2022, a writer… attempted to raise a red flag, noting that all three of the celebrities (Wozniak, Chuck Norris, and Lance Bass) who endorsed Reece Lewis declined to confirm ever knowing him

    • Illecors@lemmy.cafeOPMEnglish
      0·
      2 years ago

      CEO? No, I think the officer part requires a human being. But legal entities can own other legal entities. Not sure how deep one can make the rabbit hole go, though.

      • Overzeetop@sopuli.xyzEnglish
        1·
        2 years ago

        This is why (well, one reason) we need corporate taxes to be gross receipts. Layers of shell companies would still be legal, but every layer re-applies tax to every dollar transferred between entities. Want corporate protections? Pay for every layer.