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I and fellow colleagues had to do this once. As a founder I gave up 7 years of building that company due to some really unethical moves by the CEO.

At the end of the day, as a c-suite officer, I would have been liable by being complicit.

Once I stated my objection, I and my fellow c-suite colleagues went to the board with our objection, and CEO decided to continue executing the unethical behavior, I and a few of my c-suite colleagues all bailed.

That sucked hard.

PS. That signal from us leaving ended up preventing the securities fraud that was about to happen.