CEO Explains How He Faked Results in $300M Meltdown

"...As Gibran Huzaifah stared at the Excel spreadsheet on his laptop, he was looking into the void. eFishery, the Indonesian startup he'd built from a fish-feeding prototype to a 100-employee extension of himself, was just three months away from running out of cash.

Slowly, he started plugging fake numbers into the financial report. Within an hour, he had done what five years of hard work couldn’t — turn his business into a winner..."

Is this all is needed to get millions from VCs like Softbank? Their backers must be delighted...Like they say, "A fool and their money..."