Do you know Scooter Braun has posted against Peter Comisar on his Twitter account? If you don’t know the case, here are the details. The incident started 5 years ago but first came to the public a few days ago. On 2nd June, at night, the Los Angeles police station received a surprising complaint against Scooter Braun. Here, an accusation of $200 million scams was filed against him by Peter Comisar. Peter Comisar once was his trustworthy financial advisor. But now the tables have turned down. Here, the Twitter post and the basis of it will be discussed. Let’s see.
First, it is necessary to give a brief about both Peter and Scooter. Almost everybody from the Hollywood industry knows about this gem. He had launched so many artists till now and Justin Bieber is one of them. Apart from his Hollywood career, he is a popular businessman. His intelligence on Business made him more successful. That’s why he planned to grow it more and more. To make this happen, his manager helped him to recruit Peter Comisar who is a popular financial expert, as well as the Vice-Chairperson of Guggenheim Securities.
The Highlight of the case was simple. Peter claimed that Braun did a scam of $200 million. Brain’s dream was to earn $250 million extra Every year. That’s the purpose of recruiting Peter. But both of them had failed. To fulfil his desire, Braun prepared a fraud system to generate $200 million. When he filed suit against Braun, not having proper evidence, he took an arbitration. But the very next day, he posted some lines on Twitter. Let’s see what those are. The simplified form of the Twitter post is given here.
According to his post, his first mistake was to recruit him with a high salary. It was $3 million which later was increased by another $2 million. Though the purpose of Peter’s recruitment was increasing total revenue, he failed on the mission. Still, he was draining money. No one will accept this kind of behaviour. That’s why first he removed Peter from that position. Later give him a chance to share and Story 3 Merchant Bank. Story 3 merchant bank is another failure like Scope Capital Management. Here again, he failed to draw investors. As he was a precious asset of Goldman Sachs, Braun expected more from him. But the result was not so satisfying.
Now, what you want to conclude from his post, is upon you. But without any context deciding anything for them will be wrong. From the outside, nobody seems like a fraud when they represent their thoughts individually. As the investigation team is searching for the answers, it will be better to wait for them. But there will be one common result for each of them. That’s the reputation. Both of them belong to a field where reputation is everything. So, if they don’t do something it may hamper their career.
Scooter Braun must take a step. Because his Ithaca is earning more than $1.05 billion on the share market. A wrong move can decrease it drastically.