Success Stories That Went Wrong

Forbes publishes a yearly list that spotlights the most promising young people in business, art and technology. Yet some of those celebrated have later been caught breaking the law—especially in finance.

Six Honorees Who Faced Serious Charges

Reputation Under Scrutiny

• A social‑media post joked that Forbes might rename its ranking to “30 Over 30” to reflect the years of prison some winners have earned.
• In 2023 Forbes published a “hall of shame” article, naming ten people they wish could be removed from the list.
• The piece noted that while their vetting process has eliminated some high‑profile fraudsters in the past, others slipped through.

Why Do Startup Leaders Cross Legal Lines?

• “Fake it till you make it” culture blurs the line between visionary pitches and truthful reporting.
• Early‑stage companies often lack strict oversight, making it easier for founders to manipulate figures or take shortcuts.
• This environment fuels white‑collar crimes like fraud and embezzlement.

Regulatory Response

• A study from Boston University recommends steps to deter fraud during the private‑equity and venture‑capital phases.
• The goal is to protect investors and prevent future scandals reminiscent of past high‑profile cases.