- Goldman Sachs, Illinois governor invested in Outcome Health
- Company used phantom ad inventory to falsely boost revenue
Three former executives of Outcome Health, a company that provided advertising on TVs it installed in doctors’ offices across the US, were convicted of defrauding clients, lenders and investors of about $1 billion.
A federal jury in Chicago on Tuesday returned guilty verdicts against co-founders Rishi Shah and Shradha Agarwal, both 37, and former Chief Financial Officer Brad Purdy, 33, the US Department of Justice said in a statement. They were accused of lying to clients and taking money for ads that were never placed, and then misrepresenting the health of the company to investors.
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