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by mtrycz 3611 days ago
"due diligence", "due diligence", "due diligence"

I mean, I know it's a term, but the literal meaning... If they had been diligent where/when diligence was due, all of this was evitable.

Also, they should really do some legal action on the guy. Not because of revenge, but to try to save others from future actions of the con man. Public shaming is just not so stylish.
2 comments
caminante 3611 days ago
As pointed out by others upthread [0], the founders likely don't have money and neither does the con. Thus, legal action's a negative NPV project.

We're only hearing one side, and it doesn't sound like the management had a paper trail.

[0] https://news.ycombinator.com/item?id=12204279

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kev-reframed 3611 days ago
I'll take that. We weren't dilligent enough.

That's another reason I'm not going after him legally. He tricked us, it's my fault for not being dilligent enough.

There is someone going after him legally (We were not the only people involved) and they have a stronger case, so I have given them all of the information that I have.

I agree public shaming is crass - an investor of ours was going to write the story if I did not and he is far more prominent than me. I expected this story to only be read by my friends locally so they could be forewarned about him, not do business with him. I was also telling the story individually to my friends. So I posted it on my facebook feed, it somehow ended up here

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