Lucent Polymers, Inc. discovered a way to turn “garbage to gold” by using recycled and scrap materials to create high-quality plastics that were flame-resistant and extremely strong. Unfortunately, the business model was a total sham. The flame-resistant products routinely caught fire and impact-resistant materials were too brittle and shattered. But the company’s founders hid this from potential buyers by providing them with falsified lab tests that shows the products performed as claimed. After the company sold twice in quick succession, the SEC caught wind and the founders have been convicted of securities fraud and money laundering.
(https://resource-recycling.com/plastics/2021/03/31/lucent-execs-sentenced-for-federal-crimes/)
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