its criminal for sure. But the initial Class-Actions by shareholders would obviously be a civil matter. And as such, more easily won as it doesn't have to be a reasonable doubt and civil relies of "preponderance of the evidence," meaning it's more likely than not that the claim is true. I think this would be pretty easy, actually. Follow the $$...most of our dilution has gone to Linda Powers PRIVATE business, Advent. This is illegal...both in a civil case AND a criminal case.
Seeing some on here rely so heavily on AI for answers, I figured I would join you:
CHAT GPT Question: Can a ceo use public money for private company he/ she owns:
No, a CEO cannot typically use public money for another company, as such actions constitute a conflict of interest and potential misuse of funds, which can lead to legal and ethical repercussions.
Here's a more detailed explanation:
Fiduciary Duty:
CEOs of publicly-traded companies have a fiduciary duty to act in the best interests of the company and its shareholders, not their own personal interests or those of other companies.
Misappropriation of Funds:
Using public funds for personal gain or for the benefit of another company constitutes misappropriation of funds, which is a serious offense.
Legal Consequences:
Misappropriation of funds can lead to civil lawsuits, criminal charges, and severe penalties, including fines and imprisonment.
Ethical Considerations:
Even if not illegal, using public money for another company is unethical and can damage the CEO's reputation and the company's standing.
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