Another victim of Mormon financial scams?
First Brands bankruptcy
| by Anonymous | reply 9 | October 12, 2025 3:26 AM |
No. Private capital financing run amok. No religion needed to screw this pooch.
| by Anonymous | reply 1 | October 11, 2025 6:29 PM |
Factoring is not a scam.
Abuse of factoring is a fraud.
| by Anonymous | reply 2 | October 11, 2025 6:37 PM |
Oh crap, I just deposited 300K at UBS.
| by Anonymous | reply 3 | October 11, 2025 7:32 PM |
R2, they may have thought “it’s not really stealing if we’re stealing from private equity.”
| by Anonymous | reply 4 | October 11, 2025 8:30 PM |
grifting the fuck out there in utah.
| by Anonymous | reply 5 | October 11, 2025 8:35 PM |
They aren’t a Utah company…
| by Anonymous | reply 6 | October 11, 2025 8:46 PM |
Another example of some guy with a big ego who did a “roll-up” of a bunch of companies with debt from hedge funds who are so “smart”. He probably pocketed millions and will walk away with it all. US bankruptcy laws let the CEO walk away with zero responsibility - and most often they get a retention bonus for being “willing” to stay and help out with the liquidation. Perfect example of the corrupt capitalist system. No one who made money on the way up will be affected - just a lot ro,people will lose jobs and be forced to do the work of 2 people.
| by Anonymous | reply 7 | October 11, 2025 11:25 PM |
R7, this fraud is rather eye-catching, though. About $2 billion is missing. That's going to be harder to shrug off.
The article is from the Wall Street Journal today.
| by Anonymous | reply 8 | October 12, 2025 2:16 AM |
R3
We just moved all our accounts from UBS to JP Morgan (independent of this story). Good luck!
| by Anonymous | reply 9 | October 12, 2025 3:26 AM |