Back
Anonymous
Hey I am on Medial • 11m
Breaking down the Breaking Rishi Shah Story, A rising star in the tech world, has been sentenced to 7.5 years in prison for a massive $1 billion fraud scheme. Here's the breakdown: Who: Rishi Shah, 38, co-founder of Outcome Health, a Chicago-based health tech startup. What happened: Shah and his co-founders were convicted of defrauding clients, lenders, and investors by lying about Outcome's performance and finances. The scheme: They sold more ad inventory than they could deliver and faked data to cover it up. Consequences: Shah: 7.5 years in prison Shradha Agarwal (co-founder): 3 years in a halfway house Brad Purdy (co-founder): 2 years and 3 months in prison Prosecutors wanted 15 years for Shah, calling him the "driving force" behind the fraud. Lifestyle: Shah lived large with exotic trips, private jets, yachts, and a $10 million home. Big names involved: The fraud hit major investors like Goldman Sachs, Alphabet, and Illinois Governor JB Pritzker's VC firm.
Replies (9)
More like this
Recommendations from Medial
Sankush Media
Sankush Media is a B... • 1y
Zilingo founder Ankiti Bose has filed a First Information Report (FIR) with Mumbai police, accusing two of the company's top executives, co-founder Dhruv Kapoor and former Chief Operating Officer (COO) Aadi Vaidya, of cheating, fraud, criminal intimi
See More
Download the medial app to read full posts, comements and news.