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Startup Scam That Cost $6.5M | Cincinnati News
Published 1 week, 5 days ago
Description
A Cincinnati startup founder got 40 months in federal prison for wire fraud after scamming investors out of $6.5 million by faking pitch decks, inflating revenue numbers, and using $850K meant for a business show to buy a $1.7M luxury home. The court’s harsh sentence sends a clear message: honesty and transparency are non-negotiable when building a business.
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