Former Facebook, Nike DEI Manager Entrusted With 'Doing The Right Thing' Gets Over 5 Years In Prison For $5M Fraud
Portfolio Pulse from Benzinga Neuro
Barbara Furlow-Smiles, a former diversity manager at Facebook and Nike, has been sentenced to over five years in prison for a $5 million fraud scheme. She embezzled over $4.9 million from Facebook and continued her fraudulent activities at Nike, stealing another six-figure sum. She has been ordered to pay restitution to both companies.
May 17, 2024 | 5:51 am
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NEGATIVE IMPACT
Barbara Furlow-Smiles, a former DEI manager at Facebook, was sentenced for embezzling over $4.9 million from the company. This incident may raise concerns about internal controls and corporate governance at Meta Platforms Inc.
The fraud committed by a former DEI manager at Facebook could lead to negative sentiment regarding Meta's internal controls and corporate governance, potentially impacting the stock negatively in the short term.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
Barbara Furlow-Smiles, a former DEI leader at Nike, was sentenced for continuing her fraudulent activities at the company, stealing a six-figure sum. This may affect investor confidence in Nike's internal controls and leadership.
The continuation of fraudulent activities by a former DEI leader at Nike could lead to concerns about the company's internal controls and leadership, potentially impacting the stock negatively in the short term.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80