MANISH LACHWANI

Manish Lachwani founded HeadSpin, which raised $117M and achieved a $1.1B valuation. In 2020, the board discovered massively inflated revenue — reporting $18.4M ARR when actual revenue was ~$3.9M. He fabricated customer invoices and manipulated records shared with investors. He was fired in May 2020, pled guilty to wire fraud and securities fraud in January 2022, and sentenced to 18 months in federal prison in 2023.