Ex-Facebook diversity manager pleads guilty to bilking $4M from company

Thats why you do background checks when hiring staff.

After being caught once, the judgement will show in your record for 7 years. Most employers would be adviaed to steer clear of such fraudulent employees

Google exists, you know.

> He lists his role at that cable company on his LinkedIn.

The kind of detail you wouldn’t put in a movie script because it’s too obviously contrived lol

I hear you like downvotes.

At least the NYT can handle the traffic

He also used part of the money to put down a retainer with a criminal defense firm lol.

DEI in itself is a corrupt scheme to begin with. The related fields in academia work only towards justifying their own existence, their salaries and positions, by finding proof for their beliefs. Their activism and claims like the one that „diverse teams perform better“ then allow them to move their peers holding useless degrees into made up positions of power in business.

It's corrupt because it's pointless. It's easier to defraud by delivering nothing, when the thing you are supposed to deliver is already nothing.

What, fraud?

Yeah. Rarely does this kind of crime get committed once by a person. Same as the person claiming they only cheated once.

Once people make the choice to go over a taboo threshold, they’ll likely do it multiple times.

They do multiple corporate embezzlement cases per year. Maybe multiple per month.

The prosecutor had a similar observation:

... defraud the company of millions of dollars, ignoring the insidious consequences of undermining the importance of her DEI mission,” US Attorney Ryan K. Buchanan said ...

Good, but not great, plus the thrill of it, plus the perception of risk lowers with more successful attempts

A bit hard to show someone the door who has more than 50% of the shares vote from dual class shares. He can only be booted if he votes himself out as CEO.

> It won't be long before Zuck is shown the door after losing large piles of money and failing to make more of it.

As long as Zuckerberg prints money, I do not care what he burns up as part of the thousands of experiments being run at his company every day. Similar to Musk, these two have made me multiple millions with no effort expended on my behalf.

META +168% YTD

> Face it, Zuck is an accidental billionaire who had the advantages of Harvard but is now completely out of his depth and lacks a crystalized vision as to where to go from here. It won't be long before Zuck is shown the door after losing large piles of money and failing to make more of it. I give him 1 year or 2 tops.

I'm pretty sure people have been saying exactly that for 15 years now. Maybe someday it will come true...

> What exactly does a Head of Diversity do?

They embezzle company funds.

Like all sufficiently large organisations, with huge amounts of money, this is less a control problem and more a scale problem.

First, we should note that 4 mil, over 4 years, is a rounding error in the meta financial. Sure it's a lot to me and you (and her) but its less important to fb than a $1 is to you.

Second it's worth noting that spending any amount of money, at scale, is inefficient. Once you get past the stage of "the owner writes all the checks" you need rules, limits and so on. The more the money , the more people spending it. At which point you are hiring people -just- to spend money, and then more people to watch over them, and then even more people to watch over them.

So yeah, once you have enough people, you'll inevitable have some that are comfortable fleecing some out. Since preventing that is infinite oversight, it's simpler to just accept that it'll happen as a cost of doing business.

On the one hand you can describe this as "bad internal controls". On the other hand, if the controls cost more than the losses then that's "worse".

Context matters.

Both. Criminal (brought by the government) for the punishment, civil (brought by the victim) to recover the damages.

What a stupid comment. Greed is universal, it's not especially American. Furthermore America is one of those countries where you can steal millions and still end up in jail. In many countries a few million is enough to avoid jail forever.