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After Fraud Charges Against Slync’s Ex-CEO, Goldman Sachs Doubles Down With $24 Million Investment

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After Fraud Charges Against Slync’s Ex-CEO, Goldman Sachs Doubles Down With $24 Million Investment by DavidJeans2

Under ex-CEO Chris Kirchner's leadership, Slync sponsored multiple sporting events, including the Dubai Desert Classic golf tournament, pictured.Last summer, a little-known logistics software company called Slync was facing bankruptcy after its CEO drained its bank accounts to fund a lavish lifestyle, complete with a private jet and a fleet of luxury cars.

Urban, who joined Slync in 2018 as an advisor to Kirchner during the company’s series A funding round, before returning in August as CEO after, conceded that investors had not acted on concerns about Kirchner’s misconduct, or established effective corporate governance controls. Chris Kirchner, pictured, oversaw Slync's multiple sponsorship deals with sporting events, including the Dubai Desert Classic golf tournament.Urban said the new funding was validation of Slync’s underlying product, despite years of mismanagement under the previous CEO.

 

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After Fraud Charges Against Slync’s Ex-CEO, Goldman Sachs Doubles Down With $24 Million Investment'Whenever there's large sums of money, you're gonna attract people who are occasionally sociopathic people,' said Slync's new CEO, John Urban. DavidJeans2 Hope they pay their former employees who are still waiting for back pay... 🙄
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