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Opinion
Matt Levine, Columnist

Fake Job Interviews Are Securities Fraud

Also bad passwords are securities fraud, the Pershing Square USA IPO,
Raiffeissen in Russia, index-fund ownership caps and musical NFTs.

July 30, 2024 at 2:28 PM EDT
[160x160]
By Matt Levine
Matt Levine is a Bloomberg Opinion columnist. A former investment
banker at Goldman Sachs, he was a mergers and acquisitions lawyer at
Wachtell, Lipton, Rosen & Katz; a clerk for the U.S. Court of Appeals
for the 3rd Circuit; and an editor of Dealbreaker.
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We talked in 2022 about reports that Wells Fargo & Co. did fake job
interviews for fake diversity purposes. Wells Fargo had rules saying
that "diverse candidates" had to be interviewed as part of the hiring
process for certain jobs. Sometimes a job would open up, and a
manager would offer it to a White man, but in order to comply with
the rule, he would need to interview a woman or person of color
before filling the job. So he'd call in a Black woman, interview her,
and then immediately toss her resume in the garbage and give the job
to the White man anyway.

 
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