Latest news with #GibranHuzaifah
Bloomberg
06-05-2025
- Business
- Bloomberg
Big Take Asia: CEO's Fakery Sparked $300 Million Crash
In late 2018, five years after launching fish-feeding company eFishery, Gibran Huzaifah found himself all out of cash. To save his business, the CEO started plugging fake numbers into financial reports. The brighter picture drew hundreds of millions of investor dollars. But his house of cards was doomed to collapse. On today's Big Take Asia Podcast, host K. Oanh Ha talks to Bloomberg's David Ramli about the fall of eFishery and what it says about the risks of venture capital investing.
Bloomberg
06-05-2025
- Business
- Bloomberg
How a CEO's Faked Results Led to a $300 Million Wipeout
By , Yang Yang, and Naomi Ng Save Never miss an episode. Follow The Big Take Asia podcast today. In late 2018, five years after launching fish-feeding company eFishery, Gibran Huzaifah found himself all out of cash. To save his business, the CEO started plugging fake numbers into financial reports. The brighter picture drew hundreds of millions of investor dollars. But his house of cards was doomed to collapse.
Bloomberg
15-04-2025
- Business
- Bloomberg
CEO Explains How He Faked Results in $300 Million 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, at least on paper. He hit the send button to show his investors, certain he'd get caught.
