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Backpage co-founder sentenced to five years in prison
Michael Lacey, a founder of the defunct classified site Backpage.com, received a five-year prison sentence on Wednesday and was fined $3 million. Lacey was found guilty of money laundering last year in a sweeping case that alleged Backpage executives promoted and profited from prostitution. Lacey was convicted on a single count of international concealment money laundering in November 2023 but…
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Canoo is down to one co-founder as its CTO reportedly leaves
EV startup Canoo has lost co-founder and chief technology officer Sohel Merchant and is moving its operations out of Los Angeles, according to two reports from TechCrunch this week, citing unnamed sources. Canoo wrote in a quarterly SEC filing on August 14th that it was “permanently” dropping its headcount as part of a reorganization plan for its Torrance, California facility,…
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