News Summary

• Shiloh Luckey raised millions from top venture investors to build a tax-compliance startup.
• Last week, she was arrested in Florida and charged with crimes that carry decades in prison.
• The case highlights a vulnerable truth in venture capital: Investors routinely write multimillion-dollar checks into young companies with little financial history and potentially unaudited numbers.
• Luckey is charged with nine counts of securities fraud, three counts of wire fraud, one count of bank fraud, and two counts of money laundering.