Riley Financial Inc. (NASDAQ: RILY) is currently in a big financial hole that it dug itself after cofounder B. Riley got involved with a friend’s business ventures. The company, which was founded more than 25 years ago, had its stock collapse after a federal investigation on Brian Khan, a close confidant and business partner of Riley.
So, where did all this begin? Well, in November 2023, Khan was under federal investigation after the implications of a failed hedge fund that resulted in losses of millions of dollars. Khan denied these allegations, which saw his friend, Riley, supporting and defending him throughout the…
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