Byju’s Hid $533 Million in Fund Run out of an IHOP outlet 🤯
Absolutely crazy stuff. To summarize what I read:
- Byju's apparently transferred $533Mn to Camshaft Capital - a random hedge fund in Miami that was started by a 23 year old, with barely any investing experience.
- This hedge fund is run out of a building that has an iHOP (yes the food chain). When asked about the whereabouts, nobody even recognizes if the fund actually exists there
- This fund typically accepts only upto $50Mn. How come Byju's transferred $533Mn to them?
- 2023 Ferrari Roma, a 2020 Lamborghini Huracán EVO, and a 2014 Rolls-Royce Wraith -> All registered on this fund's papers
- Now, Byju's lenders have filed a case against Camshaft in the US.
Link to original article: https://www.bloomberg.com/news/articles/2023-09-12/byju-s-hid-533-million-in-hedge-fund-camshaft-run-from-miami-ihop-lenders-say#xj4y7vzkg
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The games that the rich and wealthy play. We're way to far away from it. And we'll probably never get it?
Fuck it
Bruh, you sound like a farmer not someone in a corporate who could themself be the CXO of a company 20 years down the line
I agree, that sentence was written a little bit in a hurry You actually sound like somebody who will be a CXO in <3 years unless you’re already one 💯👌
everyday some negative news comes about this company. When will the positive news of its shutdown come?
What is wrong with Byjus? Everything.
Absolutely shameful
Why is it assumed that Lenders are correct and Byjus is wrong ? Last time when the same allegations were made US court examined all proofs and told that Lenders were making a wrong allegation.
Typical Indian mentality of hatred
If this is true, this is going to snowball into an avalanche.
This Byju guy must be up there with Elizabeth Holmes and Sam Bankman-Fried as the shadiest founder ever. Being a B2C company , they likely won't survive in long-term given their bad reputation among general public