Partner Nicola McKinney comments on the collapse of Stenn Technologies in Bloomberg

Speaking with Bloomberg, Partner Nicola McKinney comments on corporate fraud and how the collapse of fintech company Stenn Technologies highlights key questions around investment and due diligence.

Nicola’s comments were published in Bloomberg, 24 April 2025, and can be found here.

Commenting on Stenn Technologies’ supposed business partners denying any relationship with the company, Nicola notes that such denials “will ring alarm bells” for investigators as one of “several hallmarks of a potential fraud.” 

“Banks and investors will now be carrying out their own investigations to see what went wrong. No doubt, for those investor companies that have lost significant sums, there will be questions asked internally about the checks undertaken.”

Nicola also notes that investors may have taken comfort from the presence of each other in the deal and reduced the “rigor in their own checks” as a result.