Lying by MDs
My managing director keeps lying to investors and clients. Is that normal?
He tells a buyer he's not signing a mandate with seller but goes behind his back and signs that mandate.. is it ethical? Or even legal?
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certainly not ethical
lying is ‘never’ ethical by virtue even if it leads to good outcomes.
legal? depends if someone’s legally a client / owed diligent advice as opposed to just lying to someone who you ‘legally’ have no obligation or duty of care / good faith for. if someone’s not a client you don’t have a duty of care, obedience, etc.
conflict of interest causes huge legal issues though / complex tbh
So This guy, told a buyer that the deal is too small for him so he won't be signing a mandate with seller. To the buyer he says he is only doing it to help the buyer (no mandate signed with buyer)
However, he is meanwhile sending an engagement letter to the seller.
I'm not sure if I should be reporting this to HR (joke) lol
Do not report it to HR. Is that a joke? I can't even tell anymore, the thoughts on this site are so amazing sometimes. Just in case this is real, do not do that.
If someone did that to me, I'd honestly explore having them killed. I'd probably give up in the end because its too risky or too tedious (negotiating with dark web hitmen etc) but I would conduct the initial research.
Your MD is allowed to lie to non-clients to jockey for mandates. Its called bullshitting, also known as banking.
This.
I don’t support it or agree with lying by any means. In fact I hate it. But everyone does it in this industry. Across all verticals. Buy side, sell side whatever. It’s so common one is expected to “stretch” the truth or tell half-truths on a daily basis.
Op - at least you are learning this early.
Good Luck
Did I also mention the buy side is an ex client and a potential future client
And reporting to hr was a joke..ofc not. It's just annoying to have to lie
Why the fuck would you go to the internet for hitman lmaoooooo
Wow. Never thought I’d say this to anyone but maybe you should spend a little more time on the internet. World’s a crazy place
Plausible deniability.
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