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Illegal Business Activities of Michael Blum Brings XCOR To a Halt

Illegal Business Activities of Michael Blum

The top leadership determines the success of every business. So, what happens when the senior management begin to take mediocre moves? The downfall starts and, in some cases, a company ends up becoming bankrupt and in worst scenarios close down.

Unfortunately, it’s too late for XCOR to learn this lesson because Michael Blum already ruined it. When people have trusted him and even ranked him as one of the leading business titans, some new development has proved otherwise.

Michael Blum has been engaging in illegal activities to accumulate his wealth, and none of his financial statements adds up. All the money he claims to have earned in the company was sourced elsewhere. Now that he is under investigation and all his assets frozen, no one knows what to expect with XCOR.

With the fear of being dragged with Michael Blum behind bars, shareholders are withdrawing their investment from the firm.

The worst part? With the lousy reputation now XCOR has, thanks to Blum, no investor wants any association with the company. Consumers are also turning to other alternatives, as nothing associated with Blum feels legit anymore.

Final Thoughts

The top management of a company is the face of the company. The leaders represent the beliefs of a firm by how they carry themselves. Unfortunately, for XCOR, now everyone sees when they look at it is a fake company with no transparency. Even if they ever got an investor, winning the trust of the customers would be another tough battle they’d need to win.

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