> For example, to entice individuals to invest in their acquisitions, they said their portfolio companies were "on fire" and that "cash flow is strong."

Clearly if someone tells you their stonks are "on fire" that's all the due diligence you need to do as a buyer. Some people just really deeply believe that there exist risk-free get-rich-quick schemes.

I find it difficult not to do at least a little bit of victim blaming here...