Is Investment Management an Issue for the Peter-Braun Case?
Yes, for the Peter-Braun case, Investment management is a serious issue. How? The things with the problems will be mentioned below. But before that, let’s know the Highlights of the case.
On 2nd June of 2021, a complaint against famous Hollywood star launcher, Mr. Braun was filed in the Los Angeles police station. Peter Comisar was behind it. The fact he revealed was about the $200 million fraud by Scooter Braun. Though Scooter Braun got the arbitration that night.
The statements that came in front of us, are simply telling that there were some internal investment problems. Layer it became a serious issue. All the details will be discussed here.
What are The Two Greatest Investment Issues?
Though you have a little bit of idea about investment, the concept will be crystal clear to you. In 2016, Peter was first recruited by Mr. Braun. Mr. David Bolno, the manager of Scooter Braun, suggested his name for Ithaca’s future as well as to increase revenue. His main focus was on two things. Those are- Scope Capital Management and Story 3 Merchant Bank. Apart from these, lots of small financial tasks were there for Peter. Peter was ready for this job for a $3 million salary.
How Scope Capital Management Gave Braun a Huge Loss?
The prime motive of recruiting Mr. Peter was to increase the growth level. A total of 500 million dollars was the prime revenue of Braun. He wanted to boost up to $750 million. That’s why According to Bolno’s suggestion, he recruited Peter Comisar.
Later it came to a wrong decision for him. Because Peter Comisar had failed to draw investors in it. Without investors, a fundraising management system won’t work. Trusting Peter was the first mistake of Braun according to Braun.
He stated in his statement that Peter was not a worthy financial advisor. Because of his wrong guidance, they had faced such consequences. But he gave Peter a second chance to make his dream successful. That was the Story 3 Merchant Bank.
How Story 3 Merchant Bank Gave Brain Another Loss?
In 2018, this project was started by Scooter Braun. He thought it would be better to have Peter as his advisor and partner as well. As Peter has spent most of his career with Goldman Sachs, it will be a great opportunity for him to earn money.
Later, Braun declared Peter as an Opportunist. According to Braun, Peter knows how to take advantage of everything. Even though he was earning a high salary, no valuable information was coming out of his head. He pushed all of them into a certain loss.
Thus he made his point clear about Peter. He said all of these in his statement, even in his personal Twitter account. The financial loss of millions of dollars is a shock for sure. But Scooter didn’t take a step. When Peter filed a suit against him, he revealed everything.
So, we guess the point is clear to you. Investment management is highly related to the case. Investigators are putting all their effort into reaching reality. Let’s wait for it.