Earlier this year, after
I exposed his shady business track record of brazen pump-and-dump schemes, his campaign staff bizarrely threatened me by email, over the phone, and in Twitter taunts, interspersed with provably false claims. Here’s what the facts show about Ramaswamy’s business record, as we earlier exposed, and which Ramaswamy inadvertently confirmed to us, revealing his talents as an illusionist.
Ramaswamy’s tax records show that the
first time he ever made big money was when he hyped up an
Alzheimer’s drug candidate, Axovant, which had been discarded by other pharmaceutical companies. Axovant, which was 78% owned by Ramaswamy’s corporate holding company Roivant,
blew up after failing FDA tests, with the stock crashing from $200 to 40 cents, fleecing thousands of mom-and-pop investors who bought into the hype. Ramaswamy
himself profited handsomely (even if the Ramaswamy campaign took a while to acknowledge the truth).
Ramaswamy spokesperson Tricia McLaughlin first told us that “the idea that Vivek made any money on [Axovant’s] failure is a total lie” before finally acknowledging that Ramaswamy did indeed cash out, claiming “[Ramaswamy] and other shareholders were forced to sell a tiny portion of their shares in 2015 to facilitate an outside investor entering Roivant.” The facts are that Ramaswamy’s own tax
returns show he opportunely sold out of nearly $40 million of Roivant stock right as Axovant’s hype was peaking. Meanwhile, Roivant was raising $500 million driven largely by Axovant. As Ramaswamy was busy selling his own personal stake, Roivant gradually
reduced and diluted its Axovant stake from 78% to just 25%.
https://finance.yahoo.com/news/smoke-mirrors-ve-debating-vivek-153316722.html