{
  "docId": "019dd923-622c-750b-8b99-265d3ab25ee2",
  "docSlug": "062cb2b9b6a4",
  "documentTitle": "Nuvei Corp (NVEI)",
  "authorId": "54_Spruce_Point_Capital",
  "authorName": "Spruce Point Capital Management",
  "documentKindSlug": "activist-deck",
  "documentKindLabel": "Activist deck",
  "sourceTypeSlug": "short_seller",
  "sourceTypeLabel": "Short seller",
  "presentationDate": "2021-12-09 00:00:00",
  "orientation": "landscape",
  "aspectRatio": 1.3333334,
  "pageNumber": 53,
  "pageCount": 119,
  "prevPage": 52,
  "nextPage": 54,
  "slideType": "expose_contradiction",
  "function": "expose_contradiction",
  "density": "dense",
  "nDataPoints": 0,
  "notes": "Uses legal document excerpts as evidence to support the claim of questionable due diligence and association.",
  "elementsJson": [
    "headline_text",
    "callout_box",
    "screenshot",
    "footnote"
  ],
  "metadataConfidence": 1,
  "imagePath": null,
  "slideHref": "/slides/019dd923-622c-750b-8b99-265d3ab25ee2/53",
  "deckHref": "/decks/019dd923-622c-750b-8b99-265d3ab25ee2",
  "deckJsonHref": "/decks/019dd923-622c-750b-8b99-265d3ab25ee2.json",
  "deckAnchorHref": "/decks/019dd923-622c-750b-8b99-265d3ab25ee2#slide-53",
  "components": [
    {
      "bbox": {
        "h": 0.25,
        "w": 0.84,
        "x": 0.08,
        "y": 0.17
      },
      "kind": "callout",
      "text": "Vantage Payments LLC and Dustin Sparman were named in the TelexFree Ponzi Scheme case... Prosecutors have described it as the largest fraud of all time... Vantage had been under SEC and Department of Homeland Security investigation.",
      "attrs": null,
      "subkind": "primary",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "7453b19a-7e76-4b24-90e6-f63953bade99",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": null,
      "kind": "callout",
      "text": "Vantage Payments LLC and Dustin Sparman were named in the TelexFree Ponzi Scheme case, a multibillion dollar Ponzi Scheme disguised as an internet phone service company.",
      "attrs": null,
      "subkind": null,
      "toolName": "Visual emphasis",
      "toolSlug": "visual-emphasis",
      "confidence": null,
      "componentId": "019dd953-64d1-73a9-abc7-757600126116",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.38,
        "w": 0.84,
        "x": 0.08,
        "y": 0.48
      },
      "kind": "image",
      "text": "Excerpts from legal documents detailing the relationship between Pivotal and Vantage.",
      "attrs": null,
      "subkind": "screenshot",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "07ff83c6-b60b-4edd-be68-6f90d125699a",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.04,
        "w": 0.84,
        "x": 0.08,
        "y": 0.43
      },
      "kind": "paragraph",
      "text": "Close Connection Between Pivotal (Nuvei) And Vantage Payments, Which Has Been Under Scrutiny by the SEC and DHS",
      "attrs": null,
      "subkind": "paragraph",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "a191d1bd-9109-4519-a5a7-cbea6e8b5549",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": null,
      "kind": "quote",
      "text": "In 2018, Pivotal offered to purchase the assets of Vantage Payments and acquire its executive management team and staff as an in-house sales division. During a lengthy due diligence period, me and my attorneys provided Pivotal with all requested information regarding the TelexFree litigation, including the Fourth Amended Complaint and the investigations conducted by Homeland Security and the Securities and Exchange Commission with whom Vantage Payments had cooperated. Vantage Payments and Pivotal agreed to proceed with the transaction so long as this litigation was an excluded liability in the final agreement.",
      "attrs": null,
      "subkind": null,
      "toolName": "Authority citation",
      "toolSlug": "authority-citation",
      "confidence": null,
      "componentId": "019dd953-64d1-73a9-abc7-79b9e3d6e0bd",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.03,
        "w": 0.15,
        "x": 0.02,
        "y": 0.95
      },
      "kind": "source-note",
      "text": "1) TelexFree Wikipedia",
      "attrs": {
        "numbered": true
      },
      "subkind": null,
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "fb26fdfc-f858-4d01-8458-04c4fba143b5",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.08,
        "w": 0.65,
        "x": 0.31,
        "y": 0.03
      },
      "kind": "title",
      "text": "Vantage Under Government Investigation While Nuvei Acquired It, Founder Tied To Ponzi Scheme",
      "attrs": null,
      "subkind": "headline",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "c1e9feb8-2c3f-4834-a458-f223e0df4a75",
      "frameworkName": null,
      "frameworkSlug": null
    }
  ],
  "metrics": [],
  "tools": [],
  "frameworks": [
    {
      "name": "fraud-exposure",
      "slug": null,
      "matchId": "fd4c0ad9-1421-4f48-ba6e-fdc3e958f43a",
      "evidence": "The slide explicitly links the target company to a known Ponzi scheme and government investigations to undermine its credibility.",
      "confidence": 0.95
    }
  ],
  "arcBeats": [],
  "loops": [],
  "imagePathAlt": null,
  "thumbSrc": null,
  "thumbSrcAlt": null,
  "locked": true
}