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How is it fraud? Investors make idiotic investments. Nobody is being forced to buy shares of WeWork, and all the financials are there. It’s not like WeWork is lying about financials.

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Consider the illegality of Ponzi scheme: nobody is forced to participate, investors make idiotic investments, and yet, because of the essentially certain loss of money, it can be regarded as knowingly defrauding the investor.

A Ponzi scheme lies about the source of returns. WeWork is not lying about any financials. WeWork is not a Ponzi scheme and you know it.

My assumption is these investors know what they’re doing. So they’ve structured things to sell a bag to the public, arbitraging the difference between reality and regulatory requirements/what is documented generally.

A conversation about fraud often litigates whether or not omission is a form of lying.

What did they omit that constitutes a lie in your opinion?

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