Venture financing of resume fraud fraud did you hear about fake Pay stub?
Penny Kim lives in Dallas, Texas, has extensive experience in digital marketing, has always been to be yearning for of Silicon Valley entrepreneurial myth, particularly advertisements with Silicon Valley.
Until May of this year, her Angel recruitment Web site found a company called WrkRiot in recruitment Marketing Director, this is a startup company, its main business is the online recruitment business, located in Santa Clara, Silicon Valley, is near the Intel headquarters. Penny voted decisively resumes, it didn’t take long for her to receive an interview invitation.
CTO of the company invited her to fly to interview the next day, Penny asked ticket money who, they said, but his book, later reimbursed.
CTO’s said, Penny hesitant and somewhat inexplicable fears. But the opportunity did not want to slip away, Penny’s psychological thought, I found on the Angel company, will be able to lie to me. A horizontal, will sit on the plane flew to Silicon Valley, Bay area, California.
Company has 8 employees and receive Penny is two company executives, CEO Isaac Choi (Choi) and served as CTO of Al Brown. Trey introduced himself first before doing mineral, after analysts at JP Morgan for two years, now has millions of assets, investors in transition.
Watching two executives talk enraptured, Penny is confident, oddly enough both recounts his history most of the time, for a specific product but very little ink. They told Penny, in terms of marketing, the company has a $ 4 million budget, can advertise or expansion team. Penny joined the company wishes more months of urgent, ask the company how long probation, CTO Brown answered, “there is no trial period, and we recruit quickly fired just as quickly. 」
At lunch time, Penny and they eat together and discuss product marketing plans, the second week, Penny submitted his marketing plan, and got the ticket reimbursement checks and Offer. Following consultations, the treatment of the company is $ 10,000 housing allowance, $ 135,000 annual salary, options, and severance of up to 3 months salary (as long as the reason for leaving service is reasonable, you can get the compensation)
Penny beaming, but moved to California to work on a small desires so easily achieved. She did not immediately after entry, but plans to spend two weeks before flying to Japan on vacation.
But company CEO even know yourself on vacation, or give their own tasks, over the next few days to come up with a reliable access user scenarios. Penny a little blindfolded, itself Japan computer without, well, it can only strokes on the paper home, and then entered into the computer. Penny suggested changing the product name and Logo, because the original is too unfriendly to search engines, and to make public a user’s products, brand image is essential.
After having submitted the promotion then had no echo, Penny entry only after know, his plan did not implement, not $ 4 million promotion budget at all.
On July 5, the Penny Press agreed to work on the Offer, surprise, the company grew from 8 to 17, and CEO help their recruiting of a new media promotion. As a Marketing Director and CEO in the absence of and communicate their case, helped himself hired a subordinate, even more baffling is that in their social media accounts to add her own label: CMO (Chief Marketing Officer).
Out of these 17 people, there are 8 engineers is a H-1B visa China employees, do not have much experience but good learning ability. There are 3 staff is responsible for business development, in which a man named Bruce, compared to others especially friendly, coming close and told Penny, he and two other business was CEO hired from other start-ups. Penny Bruce is a talented guy, immediately disarming, as friends.
The first week, Penny main work is familiar with the business. WrkRiot is a job search platforms like Linkedin, Angel, Zip Recruiter, job seekers, recruiters, companies charge a fee. But Penny found no advantage of their company, they can provide, it can also provide other free platforms, users have no reason to pay can get something for free. In the discussions in the team, Penny tries to convince the CEO and CTO, you should first change the product name and Logo, but ultimately failed to convince, CTO Brown insisted that top priority should be at first product launched before October.
And after a week, Penny seems too busy proposing himself along with CEO and CTO to meet with investors, she is very curious, the company did not have a lot of money, why financing.
When they saw the first of a private investor is located in Palo Alto, Penny “an eye-opener” to describe the meeting. Investor q product details, CEO and CTO spent 30 minutes talking about his background, social relations and various abilities, just like Penny said of the interview. After beginning PPT.
Penny clearly remember when the CEO comes to 31st PPT, investors interrupted a question “you have 20 employees? How much money did you spend? How much income? “And if the income is not, how subversive current recruitment industry. They later met with other investors, asked the question very much the same.
Behind the work step by step, but it wasn’t until payday draws near, the atmosphere becomes subtle. Here is not the monthly payroll, but every two weeks salary. Pnenny when in mid-July found that staff lunch is CEO pay to buy, weekend meals is also CEO at their own expense, pay would have been outsourced to ADP company, but at the beginning of July, cooperation stopped. Penny began to worry about, in fact, before you join the company, account ran out of money.
On July 20, the company has been in arrears for several days. CEO to the Penny, New Media Manager Jessica and project manager Tom cash checks in the form of payment of wages, but the entire company on the three of them got paid, only basic pay, no benefits, but better than nothing without some other employees.
Penny was wrong, gave up plans to rent, but temporarily looking for rent to live on Airbnb. She and Bruce says about this matter, Bruce told Penny he lent CEO personal deposit of 50,000 yuan, and another colleague named Bobby also contributed her tens of thousands of dollars. Penny puzzled, CEO says he has several millions of dollars, right, why do we have to borrow money from employees, Bruce replied that CEO really rich, but belong to overseas assets were frozen because tax matters, procedures have been processed in order to swing open. No relation, know time is not long, Bruce and Bobby have lent their accumulated CEO. Penny was incredible.
After two weeks, went to the payday, CEO did get any money out of 8 Chinese visa H-1B staff is very anxious, this group last payroll was a month ago, if companies have no salary, they could well be swept home.
CEO say faster, faster, said wages because ADP payroll outsourcing partner of mistakes before, also say that a check by courier, takes several days to get them, said a few days later lost checks. CEO members collected their respective bank accounts through transfers in the form of payroll.
Penny more and feeling what CEO hiding from everyone, he told the CEO email requires openness to talk about, but there is no reply. The next day, intolerable Penny went to the regulatory complaint.
Penny then contacted a New York lawyer friend advice for advice, they helped him draft a Email, but tells Penny, plans to prepare for the worst, this kind of thing in much of California, a lawsuit is too much trouble, eventually or breadwinner is a distinct possibility.
Meanwhile, two of the most promising investors gave up at the last minute. In other words, this time on the company’s financial must be empty. Last hope is the CEO because tax freeze cash overseas, according to Bruce told Penny, CEO need went to New York to appear in court in order to unfreeze the money.
Strange, on August 4, CEO mailshot said wages have made! Message content is a transfer screenshots. Each employee received this screenshot, amounts are paid. But Penny accidentally found copyright information at the bottom of this picture turned out to be 2014, through Google, she found the original picture, it turns out, this remittance screenshot of PS. Penny was furious, even more chilling is that CEO think PS remittance voucher is a good idea.
Triumphant after the CEO sent out this email, permeated with a festive atmosphere of the Office, only a Penny inside heavy. CEO looked at his staff finally relieved expression, talking to myself, “look at that group of Chinese children, they get paid is so happy haha. 」
Penny can’t watch this, he told colleagues around the truth, it is recommended that they submit a complaint. 8 Chinese engineers held visas are refused, dare not leave. Adam and Darren are also engineers, they did complain about wages, follow Penny’s advice and filed a complaint. Did not expect is that Bruce quietly and all staff are very familiar, Bruce learned dynamically reflects to himself the CEO there, the two engineers after he was sacked, soon after Penny was also dismissed.
Penny kept his job work mail and records, as well as the CEO of forged remittance voucher. In case the company under various pretexts, to legalize dismissal on grounds, such as lack of capacity, and so on. Left Penny when the company took a work laptop and the keys, go out when I met CEO,Penny and CEO, shook hands, said CEO wages Penny will be notified to the account, then shook hands.
After more than 10 days, CEO Penny send text messages, said wages have made, so she returned to work and the key. Penny as promised, and got their paychecks, which his total wages and taxes, but without the promised housing allowances and parachutes.
Silicon Valley startup not as good as first thought, Penny back from California to Dallas, back to the relatives. New work from a month is pleased and expect to be fooled by the Silicon Valley venture firm, Penny feels “like it’s been through a nightmare.”
Company CTO later is said to have been dismissed on the grounds that “do not know how to run the company” CEO Choi after an interview with the New York Times, he did not mind, “like many companies, if you want to talk about startups, startups all have their own problems. “When asked a fake journal voucher, Cui did not directly answer, said Penny just a grudge because of the dismissed employee.
Cui online anonymity, Penny said he even hired professional submerged himself in the network of tracks. Photos rarely exposed, a resolution is not high profile, should look Asian, Chinese people is very high. According to the investigation, the New York Times, Cui is 35 years old, although claiming to be graduated from New York University and worked at JPMorgan Chase, but University of New York and JPMorgan Chase said, not this person.
According to the company’s CTO Al Brown was fired, Cui they promised to pump $ 2 million to a startup, but it only took out $ 400,000, Brown himself also spent $ 200,000. WrkRiot website has been inaccessible all put money almost always have no return, 8 H-1B visa, China also faces an uncertain future.