comment: >
  
  The guy was even losing his fake clients.
context: How to fake 4 million clients >
  
  John Smith, John Smythe, Jon Smith, Johnny Smith, etc. >
  
  John Jacob jingleheimersmith. >
  
  My Bologna has a first name,
  It's O-S-C-A-R.
  My bologna has a second name,
  It's M-A-Y-E-R. >
  
  What's your Bologna's first pet's name, and what street did it grow up on? So we can figure out its stripper name. >
  
  Coincidentally, both are Weiner. >
  
  Carlos Danger >
  
  "[T]o cash in, Javice decided to lie, including lying about Frank's success, Frank's size and the depth of Frank's market penetration in order to induce [JPMorgan] to purchase Frank for $175 million," the bank alleges in the complaint."
  Frank lying about fame, size, and penetration... >
  
  Don't we all... >
  
  The first line of the article says it all - "24 year old Ivy League graduate". 
  JPMorgan hires from a very selective pool. They saw the CV, many of their employees are Harvard or Wharton MBA grads who suffer from a tragic case of hubris, and dumped millions into this start-up without doing basic background checks. 
  It says a lot about the culture at JPMorgan - they don't even do their basic due diligence, yet they are entrusted with billions to invest... >
  
  I just watched the documentary about Madoff. I have no sympathy for JPMorgan.  They allow billions in fraud and get a good fingerwagging when they get caught. >
  
  This is why they don't do due diligence. They don't have to. Corporate socialism has removed all these risks from the banks even if they fall flat on their face taxpayers will give them infinite money to bail them out. >
  
  Don’t call it corporate socialism. Because it’s not what it is. Wealth transfer from the working class into the hands of the financial elite is a baked in feature of capitalism >
  
  Wait I remember being told the bankers aren't idiots. This right here is dumb fucking choice to have given some 24 year old "genius" millions without doing some goddamn research. 
  These are the people in charge of the money? >
  
  Why would they care? They'll just be bailed out and can claim fraud when they didn't do their due diligence. Then defraud the global financial system with repackaged debt and get a high five. >
  
  This right here. The wealthiest among us, the rich families, the trust fund babies, the tech bros, all of them are just people. Nothing special. The reason they succeed is because they can afford to fail as many times as it takes. And when an entire government positions itself in such a way to ensure you can't fail as long as you tow the line, well, that does shit to a person's head. That's where you get your SBFs and Lehmans: folks far removed from the consequences of their actions >
  
  So basically, they took a product they owned, made it appear to be worth more than it actually was, and passed it off to an unsuspecting buyer who only later figured out it wasn’t worth what they paid for it?  Given their experience at doing exactly this to others, I’m surprised they didn’t recognize it earlier. >
  
  Caveat emptor. 
  Bankers should know this. >
  
  At a flea market yes. Otherwise and especially when it's millions of dollars it's called fraud. >
  
  This is the sort of thinking that allows businesses and bankers to get away with deception. The banking system defraud the global financial system constantly and get away with it. Why is it okay for a retail investor to lose money but not them? >
  
  I'm not sure what you're talking about. If a bank or any party is going to pay a seller 175m and the seller deceives the buyer about the value of the target asset, that's fraud. It's not okay but I agree that criminal proseucrion of bad actors in the financial services industry is seriously lacking. Obama should have torn them all down after the 08 meltdown. HSBC should have lost its banking charter any number of times after it got caught banking money for the Mexican drug cartels. Corporate tax evasion through elaborate off shore structures should be flat out illegal. The list goes on and on. That doesn't excuse this idiot lying  about the business having 4m+ customers to get 175m >
  
  Fucking George Santos, man. >
  
  Last quarter JPMorgan made 11 billion in profits. Blowing this startup cost them 1.5% of one quarter's earnings. It's almost a rounding error. >
  
  But the egg on that face, and the cost to their reputation: priceless. >
  
  I don't understand what seems to be the consistent incompetence of people who direct investments into companies.  It really looks like they often just buy the PowerPoint deck wholesale.  I wish I could make slides like that. >
  
  what a god damned shame.
  so anyway. >
  
  Sounds like failed due diligence on their part. >
  
  beats paying $44 billion for a lot of bots >
  
  I'm not feeling any sympathy to JPMorgan. The decided to pay $175M for something. 
  There's something call due diligence. >
  
  Fake It Until You Make It! >
  
  Jamie Dimon is a criminal. >
  
  The final boss of the Indian call center scams. >
  
  Very robust executive team at helm led by their Chief Pontificator Mr. Diamond. Obviously this sort of high class decision is what he gets paid the big bucks for. >
  
  Interesting how “buyer beware” only applies to regular folks >
  
  "Investments are a risk and may go up or down at any time." >
  
  You mean like the millions of fake users in Facebook or insta? >
  
  It must feel like gambling online with somebody else's credit card.  These fuckers get to place bets with other people's money, and just "oh well" when an investment goes tits up.  The lawsuit is almost an afterthought, like when you have to file a police report to file an insurance claim.  In this case, taxpayers are the insurer. >
  
  Talk about not doing your due diligence. >
  
  hahaha, do any of these people actually know what they are doing? >
  
  Where’s that Spider-Man meme of them pointing at each other? >
  
  That’s because JPM was in on it. I see what you did there. >
  
  Well I'm sorry to tell JP Morgan and their shareholders this but since the person was part of the banking industry then they are classified as a banker. So using the precedents established in 2008. Nothing can be done and JP Morgan and its shareholders will have to take the loss without any reprisals by the government.
  /s?