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/biz/ - Business & Finance

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18680683 No.18680683 [Reply] [Original]

>create a company
>declare myself as founder/ceo
>present realistic, promising business idea to bank for huge loan. or shareholders/investors
>fuck around with the money and do seemingly real business moves to look legit
>at the same time, I give myself a huge paycheck as being the CEO/president.
>business eventually goes under. declare bankruptcy
>walk away from company with my millions, or at least hundreds of thousands.

Why can't I do this?

>> No.18680688

Because you're liable for the bankruptcy and you must pay it back

>> No.18680689

>>18680683
The consequences.

>> No.18680691

>>18680683
we work and ever IPO ever

>> No.18680697

>>18680683
Because that only works because these people are all friends or family.
They don't let outsiders fuck around with their money.

>> No.18680704

>>18680688
>>18680689
there are no consequences you morons
the whole idea of legal entity - the company is to isolate you

>> No.18680706

>>18680683
Because you don’t even have an idea or a reputation that anyone would invest even $1 into...let alone an actual business plan, network of contacts, collateral, education, etc.

Good luck though

>> No.18680707

>>18680688
wouldn't the entity of the company be liable? It would be the company that has the burden of the loan, not me individually.

>>18680689
are?

>> No.18680733

>>18680683

Because people who want to cheat their way into money are almost never smart/driven enough to execute on this.

Those who put in the work and make it to that stage do so because they want it badly. Day dreaming NEETs don’t.

>> No.18680758

>>18680706
>Because you don’t even have an idea or a reputation that anyone would invest even $1 into...let alone an actual business plan, network of contacts, collateral, education, etc.

Surely if you had time and the initial sources you could scrounge together all of those. Fake instagram with hundreds of thousands of fake followers and comments to make you look like an influencial person. Fake portfolio. A leased sports car and fancy suit with a borrowed Rolex to look legit upon presenting to lenders/investors. I haven't thought too deeply about it but I'm sure your reputation/image can be bought and faked

>> No.18680776

>>18680733
Ok, but if I was driven enough to do this, why wouldn't it work?

>> No.18680788
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18680788

>>18680683
>Why can't I make a ponzi scheme?
You can... I mean this guy did it.

>> No.18680797

>>18680688
Tell that to Vince McMahon and Donald Trump. I think there's some loopholes

>> No.18680818

>>18680683
>create company with promising idea A
>create other company with seemingly promising idea B
>get investors for A
>show why it's a good idea to acquire x from A so that B can operate to it's maximal potential
>profit
works best if you let some of the investors share in the profits, if they help you build A they deserve it

>> No.18680821

>>18680788
>>Why can't I make a ponzi scheme?
>You can... I mean this guy did it.

coping no Linker. let me guess. you bought high?

>> No.18680853
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18680853

>>18680818
Get investors for B

>> No.18680870

>>18680821
Only Indians are dumb enough to buy into a crypto that has 70% of the supply held by 1 person. These are basics.

>> No.18680976
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18680976

It would absolutely work. Worst case you might get exposed or accused of running a scheme by the lenders/investors and get sued. But in that case the investigation would take 5-10 years (plenty of time for you to spend/hide you money in physical form). And should their be criminal charges (another nearly decade long investigation), you'll likely get a slap on the wrist or spend 6 months in a federal camp / club fed which is rather comfy. Once you get out you can enjoy all the money you hid

>> No.18681154

>>18680758
Yes you just need a company name they can trust though. Something bold and legit sounding. Stratton Oakmont.

>> No.18681202

>>18680683
>declare myself as founder/ceo
if you are the sole owner then you are liable for bankruptcy since it's easy to prove it was a setup
this scheme works better with 2/3 owners

>> No.18681274

>>18680683
I don't know why it wouldn't work. Why don't you try it? You're probably not busy now anyway.