Startup founder convicted of defrauding JPMorgan Chase of $175M by faking firmโs success.
I see no problem here. Many more people should defraud JPMorgan Chase.
Apart from any law broken, itโs the buying firmโs responsibility to conduct adequate due diligence. JPMorganโs audit of the books seems to have been, โWelp, looks good to me.โ That wouldnโt mitigate the actual fraud in the eyes of the law, but were I the judge Iโd just laugh at JPM and sentence Charlie to time served and let her keep the money1.