The Briefing: HeadSpin Co-Founder Charged, Headspace Merges …

U.S. authorities charged the co-founder and former CEO of HeadSpinwith defrauding investors out of as much as $80 million by overstating the financial numbers of the Palo Alto, California-based startup. The U.S. Department of Justice arrested Manish Lachwani on charges of securities fraud and wire fraud related to … See more

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The Briefing: HeadSpin Co-Founder Charged, Headspace Merges …

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HeadSpin Founder Lachwani Sentenced To 18 Months In Prison For …

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Apr 22, 2024 · Dive Brief HeadSpin founder Lachwani sentenced to 18 months in prison for fraud The former CEO of HeadSpin — ordered to pay a $1 million fine — faces a July hearing …

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Silicon Valley Tech Founder Sentenced To Prison For Fraud - MSN

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Manish Lachwani is co-founder and former CEO of mobile app-testing company HeadSpin, which once was valued at more than $1 billion by venture capitalists. He's also about to become a …

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Prosecutors Charge Startup Founder For Allegedly Lying To VCs …

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Aug 25, 2021 · Authorities on Wednesday arrested the co-founder of a Silicon Valley startup once valued at more than $1 billion for allegedly providing false key financial metrics to venture …

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Ex-CEO Of Tech Startup HeadSpin Accused Of Bilking Investors Out …

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Aug 25, 2021 · Federal authorities on Wednesday charged a co-founder and former chief executive of HeadSpin with defrauding investors out of as much as $80 million by overstating …

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SEC Charges Former CEO Of Technology Company With $80 …

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Aug 25, 2021 · The Securities and Exchange Commission today charged Manish Lachwani, the former CEO of HeadSpin Inc., a Silicon Valley-based private technology company, with …

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Ex-CEO Of Silicon Valley Mobile App Startup HeadSpin Charged …

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Aug 25, 2021 · U.S. authorities on Wednesday charged a co-founder and former chief executive of HeadSpin with defrauding investors out of as much as $80 million by overstating the Silicon …

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Ex-CEO Of Silicon Valley Mobile App Startup HeadSpin Charged …

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Aug 25, 2021 · U.S. authorities on Wednesday charged a co-founder and former chief executive of HeadSpin with defrauding investors out of as much as $80 million by overstating the Silicon …

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FAQs about The Briefing: HeadSpin Co-Founder Charged, Headspace Merges … Coupon?

Who is the CEO of Headspin?

Lachwani founded the company in 2015 and served as its Chief Executive Officer until May 2020. Between April 2017 and April 2020, HeadSpin raised more than $100 million from investors over multiple rounds of fundraising, leading to a valuation of approximately $1.1 billion. ...

Did Headspin co-founder defraud investors out of $80 million?

REUTERS/Andrew Kelly Purchase Licensing Rights Aug 25 (Reuters) - U.S. authorities on Wednesday charged a co-founder and former chief executive of HeadSpin with defrauding investors out of as much as $80 million by overstating the Silicon Valley startup's revenue and other key financial metrics. ...

Why did Headspin get a prison sentence?

The founder of startup HeadSpin just got an 18-month prison sentence for wire and securities fraud. He admitted he gave investors wrong financial information, defrauding them out of over $100 million. Prosecutors said his sentence is a warning to other "fake it til you make it" Silicon Valley execs. ...

What happened to headspin?

HeadSpin returned 70 percent of principal to investors after discovering the inflated revenue and forcing its CEO to resign, court documents show. After discovering the inflated revenue, HeadSpin forced Lachwani to resign in May 2020 and reduced its valuation to about $300 million, court papers show. ...

Who pleaded guilty to headspin?

The guilty pleas were accepted by U.S. District Judge Charles R. Breyer. Lachwani, 47, of Los Altos, Calif., founded Silicon Valley-based HeadSpin, a company that provided clients with software tools and access to devices to test mobile applications. Lachwani founded the company in 2015 and served as its Chief Executive Officer until May 2020. ...

How much money did Headspin raise?

Between April 2017 and April 2020, HeadSpin raised more than $100 million from investors over multiple rounds of fundraising, leading to a valuation of approximately $1.1 billion. According to his plea agreement, Lachwani admitted that he disseminated false and overstated revenue metrics to potential investors to lure investments into his company. ...