Indian-American & ex-Billionaire Rishi Shah Sentenced to 7.5 Years Jail for $1 Billion Fraud at Advertising Startup Outcome Health with Investors Including Goldman Sachs, Alphabet (Google) & Pritzker Group, Outcome Health Provides Ads on Televisions & Offices of Doctors, Sold Ads & Collected Money But Ads Were Never Placed, Misrepresented Financial Status of Company to Investors, Spent Money on Weekend Trips on Private Jets & Yachts and Bought a $10 Million House, Rishi Shah Convicted in 2023 April Alongside Outcome Health President & Co-Founder Shradha Agarwal and CFO Brad Purdy, Fraud Exposed by Wall Street Journal in 2017
4th July 2024 | Hong Kong
Indian-American & ex-billionaire Rishi Shah has been sentenced to 7.5 years jail for $1 billion fraud at advertising startup Outcome Health with investors including Goldman Sachs, Alphabet (Google) & Pritzker Group. Rishi Shah is the co-founder, Chairman & CEO of Outcome Health, which provides ads on televisions & offices of doctors. Outcome Health sold ads & collected money but the ads were never placed. Outcome Health had also misrepresented the financial status of the company to investors. Rishi Shah spent the money on weekend trips on private jets & yachts, and bought a $10 million house. Rishi Shah was convicted in 2023 April alongside Outcome Health President & co-founder Shradha Agarwal, and CFO Brad Purdy. The fraud was exposed by Wall Street Journal in 2017.
“ Indian-American & ex-Billionaire Rishi Shah Sentenced to 7.5 Years Jail for $1 Billion Fraud at Advertising Startup Outcome Health with Investors Including Goldman Sachs, Alphabet (Google) & Pritzker Group, Outcome Health Provides Ads on Televisions & Offices of Doctors, Sold Ads & Collected Money But Ads Were Never Placed, Misrepresented Financial Status of Company to Investors, Spent Money on Weekend Trips on Private Jets & Yachts and Bought a $10 Million House, Rishi Shah Convicted in 2023 April Alongside Outcome Health President & Co-Founder Shradha Agarwal and CFO Brad Purdy, Fraud Exposed by Wall Street Journal in 2017 “
Indian-American & ex-Billionaire Rishi Shah Sentenced to 7.5 Years Jail for $1 Billion Fraud at Advertising Startup Outcome Health with Investors Including Goldman Sachs, Alphabet (Google) & Pritzker Group, Outcome Health Provides Ads on Televisions & Offices of Doctors, Sold Ads & Collected Money But Ads Were Never Placed, Misrepresented Financial Status of Company to Investors, Spent Money on Weekend Trips on Private Jets & Yachts and Bought a $10 Million House, Rishi Shah Convicted in 2023 April Alongside Outcome Health President & Co-Founder Shradha Agarwal and CFO Brad Purdy, Fraud Exposed by Wall Street Journal in 2017
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