▲ | K0balt 7 months ago | |||||||
I guess you are assuming that they did not employ an accounting firm or accountants to assist with the design of their system? If that is the case (non-accountants attempting accounting, or not bothering, perhaps) then you have a point… but I doubt that is what happened. It would be grossly negligent crossing into malfeasance, and probably criminally illegal to operate a money business without proper accounting supervision (and accounting is a regulated, qualified profession similar to law) But, if that is indeed what happened, I look forward to seeing the founders in federal prison. I just kinda doubt they ran a banking startup without ever consulting a lawyer or an accountant. | ||||||||
▲ | zaphar 7 months ago | parent | next [-] | |||||||
Why do you find this hard to believe? I find it hilariously easy to believe. | ||||||||
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▲ | salawat 7 months ago | parent | prev [-] | |||||||
...Because there are no shady accountants or lawyers more motivated by a quick buck to be made, with the wherewithal to stay reasonably distant from anything blatantly capable of blowing back on them. Surely. | ||||||||
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