

Gowex Chief Orchestrated Sham by Hiding Lies in Plain Sight - spindritf
http://www.bloomberg.com/news/2014-07-15/gowex-chief-orchestrated-sham-hiding-lies-in-plain-sight.html

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teoruiz
I joined a startup wholly-owned by GOWEX 5 months ago. A startup that is now
defunct.

I know it sounds crazy but we all believed those numbers, we were happy, money
everywhere.

But from time to time one of my mental alarms would go off, and I would just
ignore it. "What could possibly be wrong with this company? It's a publicly-
traded company, after all."

The moral of the story is: pay attention to your instincts.

~~~
greenyoda
_" I know it sounds crazy but we all believed those numbers, we were happy,
money everywhere.

... 'What could possibly be wrong with this company? It's a publicly-traded
company, after all.'"_

Sounds like we've already forgotten about Enron[1]. They seemed to be rolling
in cash, were hyped by Wall Street analysts and the media, etc. How could it
all have been a scam?

[1]
[https://en.wikipedia.org/wiki/Enron_scandal](https://en.wikipedia.org/wiki/Enron_scandal)

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ejstronge
The article seems to totally ignore this, but how much money did Gotham City
Research make from shorting this company?

~~~
spindritf
I don't think it's public knowledge. They did make money though. It's an
interesting company and I wanted to submit another link[1] specifically about
them but it's behind a registration wall.

[1]
[http://www.ft.com/intl/cms/s/0/a841ea38-ca4d-11e3-8a31-00144...](http://www.ft.com/intl/cms/s/0/a841ea38-ca4d-11e3-8a31-00144feabdc0.html)

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maaarghk
Hey I know that name. I have a GOWEX WiFi network saved on my phone. IIRC it
was an open network picked up whilst on holiday in Dublin which did not work
in the slightest. /unrelated anecdote

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wslh
Amazed that the research company that discovered the fraud is called Gotham
City Research!
[http://gothamcityresearch.com/](http://gothamcityresearch.com/)

