WeWork , the lead banker in The We Company ’s IPO, will reportedly share $122m in fees with other banks. The firm also led a deal to extend a $ billions of dollars debt package to WeWork and extended loans worth more than $40m to Adam Neumann personally. Chairman and CEO Jamie Dimon was formerly co-CEO of Salomon Smith Barney , a role he held when that bank began a relationship with WorldCom ’s Bernie Ebbers . A relationship that cost Bernie Ebbers parent Dimon was co-CEO of Salomon Smith Barney when it began its super chummy relationship with Bernie Ebbers of WorldCom, which ended in multi-billion dollar legal settlements by Citigroup, Salomon Smith Barney’s parent, and Ebbers serving a 25-year Federal prison sentence. The We Company billions of dollars to settle a legal case and saw Ebbers sentenced to a 25-year prison term, according to Wall Street on Parade. The news site draws parallels between Citigroup and WeWork suggesting Salomon Smith Barney had a conflict of interest when bringing WorldCom to market and that perhaps JPMorgan ’s relationship with The We Company could be similarly conflicted.
WeWork , the lead banker in The We Company ’s IPO, will reportedly share $122m in fees with other banks. The firm also led a deal to extend a $ billions of dollars debt package to WeWork and extended loans worth more than $40m to Adam Neumann personally. Chairman and CEO Jamie Dimon was formerly co-CEO of Salomon Smith Barney , a role he held when that bank began a relationship with WorldCom ’s Bernie Ebbers . A relationship that cost Bernie Ebbers parent The We Company billions of dollars to settle a legal case and saw Ebbers sentenced to a 25-year prison term, according to Wall Street on Parade. The news site draws parallels between Citigroup and WeWork suggesting Salomon Smith Barney had a conflict of interest when bringing WorldCom to market and that perhaps JPMorgan ’s relationship with The We Company could be similarly conflicted.