FOMO drives inadequate, rushed due diligence. I don’t feel sorry for either party here. The founders were crooks, and JPM was stupid. Unlike Theranos where the majority of the early investors were individuals, this is a financial powerhouse we are talking about. Sadly, as deb said, an associate or two will be tarred and featured, but the partners will keep their bucks.
JP Morgan sues online college financial aid start-up founder etc for allegedly faking customer lists
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