I work for a publicly traded company
I work for a publicly traded company that invests shareholders monies. About 24 months ago, the firm started having some financial problems that just continued to escalate through the end of last year.
Prior to that, the directors starting doing some very ethically questionable things and probably illegal from the day they opened. A mass amount of staff left after pointing out the ethical and legal issues and concerns with management actions.
In fact, the law firm that represented our firm dumped us and management hired a big firm that could be bought. I say bought because I have overheard our new counsel direct management "don't tell me that if you want me to represent this in court as we discussed previously" and similiar comments.
They have lost more than one hundred eighteen million dollars of shareholders money and there is more burried in a complicated financing structure that has not been disclosed to shareholders. We all know what is going on at this firm and my concern is that we may be culpable by not saying anything. Anyone that left under ethical concerns was advised on the way out the door their lives would be ruined if they opened their mouths about anything they witnessed in the firm. And the management files suit on everybody and anybody for just about anything.
Here is my dilemma, having this firm on your resume is a bit of a running joke in the business community in which I make my living. Working here is like working for the mafia, constant threats and duress, and we all know what management is doing. I want to leave and turn these people in but I am afraid I would destroy any chance of working in my career field again by being a whistleblower. If that doesn't wreck my career the management here would certainly file lawsuit after lawsuit and ruin my career. Our management has hurt more than employees and has ruined the lives of business owners and the eimployees of the companies they loaned money to through what amounts to lies and arrogance. They loan to own or control but don't advertise as such and when they meet resistence, they make up lies and take companies.
To make matters worse people are on to our management, things they have done, and things they are doing now. There is a public forum like this one specific to our industry where I suspect former employees and investors are posting information revealing what goes on in this firm.
I am not in a financial position to fight these people and our firm has become the laughing stock among competitors in our industry. So, I don't have a great reference on my resume.
I know what they are doing but am too afraid to say anything to the regualatory authorities for lack of ability to fight them legally and I am just simply afraid of their threats. I feel like a coward for not having the courage to turn them in, that is my confession.