Chris Kirchner was ousted from the company he founded after Forbes revealed allegations of 'fraudulent behavior.'
that Kirchner had misrepresented Slync’s finances to the board, and fired executives who had raised concerns about his alleged misconduct.
As the company grew to a $240 million valuation, Kirchner flaunted a flashy lifestyle: he drove a red Ferrari, was a regular at Pro-Am golf tournaments, and bragged on Twitter about flying on a private jet he owned.
However, his new lifestyle overshadowed concerns raised within the company about Kirchner’s leadership, which grew after multiple executives, including the CFO and CRO, were pushed out of the company. For employees, Kirchner’s high-flying endeavors, including separate attempts to buy two English football teams, were hard to accept, especially when their paychecks stopped coming in May 2021. “I don’t know that [Slync] was a business so much as it was a kleptocracy,” a former employee toldin July.
Weeks after the Forbes report, Kirchner was first suspended as CEO, then subsequently fired and stripped of his role as chairman in August. Goldman Sachs subsequently repaid employees. It declined to comment on these latest developments.
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