{
  "docId": "019dd923-622c-750b-8b99-958328f81d65",
  "docSlug": "87e146d081a8",
  "documentTitle": "Aegon Ltd. (AEG)",
  "authorId": "54_Spruce_Point_Capital",
  "authorName": "Spruce Point Capital Management",
  "documentKindSlug": "activist-deck",
  "documentKindLabel": "Activist deck",
  "sourceTypeSlug": "short_seller",
  "sourceTypeLabel": "Short seller",
  "presentationDate": "2024-12-16 00:00:00",
  "orientation": "landscape",
  "aspectRatio": 1.3333334,
  "pageNumber": 48,
  "pageCount": 82,
  "prevPage": 47,
  "nextPage": 49,
  "slideType": "expose_contradiction",
  "function": "expose_contradiction",
  "density": "balanced",
  "nDataPoints": 0,
  "notes": "The slide uses a 'fraud-exposure' framework by linking corporate filings to a potential conflict of interest.",
  "elementsJson": [
    "headline_text",
    "paragraph",
    "screenshot",
    "data_table"
  ],
  "metadataConfidence": 1,
  "imagePath": null,
  "slideHref": "/slides/019dd923-622c-750b-8b99-958328f81d65/48",
  "deckHref": "/decks/019dd923-622c-750b-8b99-958328f81d65",
  "deckJsonHref": "/decks/019dd923-622c-750b-8b99-958328f81d65.json",
  "deckAnchorHref": "/decks/019dd923-622c-750b-8b99-958328f81d65#slide-48",
  "components": [
    {
      "bbox": null,
      "kind": "callout",
      "text": "A business records search with the California Secretary of State reveals that Xuan Nguyen, one of the highest-ranking members of WFG, and his family control World System Builder (also known as WSB Partners, Inc.).",
      "attrs": null,
      "subkind": null,
      "toolName": "Visual emphasis",
      "toolSlug": "visual-emphasis",
      "confidence": null,
      "componentId": "019dd953-14dd-72ca-b98c-89eb9c60a8cd",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.6,
        "w": 0.52,
        "x": 0.02,
        "y": 0.3
      },
      "kind": "image",
      "text": "California Secretary of State Certificate of Amendment of Articles of Incorporation for World System Builder, Inc.",
      "attrs": null,
      "subkind": "screenshot",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "3bbe65e8-9597-47d6-a215-40801d54878f",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.6,
        "w": 0.42,
        "x": 0.56,
        "y": 0.3
      },
      "kind": "image",
      "text": "WSB Partners, Inc. business entity details from California Secretary of State",
      "attrs": null,
      "subkind": "screenshot",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "4c3712ec-634b-4c99-afbd-e65291cc0f50",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.12,
        "w": 0.96,
        "x": 0.02,
        "y": 0.16
      },
      "kind": "paragraph",
      "text": "A business records search with the California Secretary of State reveals that Xuan Nguyen, one of the highest-ranking members of WFG, and his family control World System Builder (also known as WSB Partners, Inc.). This is extremely concerning considering that low level agents are often required through WFG’s recruiting program to purchase materials from WSB, which appears to be to the enrichment of Xuan Nguyen and his family.",
      "attrs": null,
      "subkind": "paragraph",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "5463aba9-1137-4165-bbd2-86d1b8b25c1e",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.03,
        "w": 0.4,
        "x": 0.02,
        "y": 0.96
      },
      "kind": "source-note",
      "text": "Source: California Business Search, Red Line Emphasis By Spruce Point",
      "attrs": null,
      "subkind": null,
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "e8666751-dc52-4f1a-b1ca-000b135de129",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.12,
        "w": 0.65,
        "x": 0.33,
        "y": 0.02
      },
      "kind": "title",
      "text": "Xuan Nguyen Appears To Use Position As A WFG Leader To Extract Value From His Low-Level Agents",
      "attrs": null,
      "subkind": "headline",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "52f18c43-6486-449c-af1d-4d8a4243d046",
      "frameworkName": null,
      "frameworkSlug": null
    }
  ],
  "metrics": [],
  "tools": [],
  "frameworks": [
    {
      "name": "fraud-exposure",
      "slug": null,
      "matchId": "c22bc1e2-e0c6-4096-9b8d-157b7f235685",
      "evidence": "The slide explicitly links corporate control to the exploitation of subordinates to suggest unethical or fraudulent behavior.",
      "confidence": 0.9
    }
  ],
  "arcBeats": [
    {
      "to": 60,
      "from": 40,
      "beatId": "ecdf114a-768c-4ec6-a1de-3aef8699d5b5",
      "arcName": "Overcoming the Monster",
      "arcSlug": "overcoming-monster",
      "beatName": "The Struggle",
      "beatSlug": "overcoming-monster-the-struggle",
      "evidence": "The document presents evidence of the challenges and controversies surrounding WFG and Aegon's products.",
      "position": 2,
      "confidence": 0.9,
      "parentBeatName": "Development",
      "parentBeatSlug": "development"
    }
  ],
  "loops": [],
  "imagePathAlt": null,
  "thumbSrc": null,
  "thumbSrcAlt": null,
  "locked": true
}