The potential deal with Matthew Brown unravelled in less than a week with Virgin Orbit severing contact and threatening to take legal action against him
were crashing to Earth last month, a little-known investor called Matthew Brown appeared offering a $200-million rescue.
The previously unreported details of a deal that was never done provide a window into Virgin Orbit’s failed scramble to avoid bankruptcy. The company, which had been worth $3.8-billion in late 2022 and counted the U.S. military among its biggest clients,Hart, a former Boeing veteran, did not respond to a request for comment on the talks with Brown. Virgin Group, which owns 75 per cent of Virgin Orbit, also declined to comment for this article.
When the company cut contact with Brown, on March 25, it had uncovered issues with Brown’s credibility, the three people said. One said executives found evidence that contradicted details Brown had provided about his background. In his CNBC interview, Brown said he had worked with OpenAI. An OpenAI spokesperson said it had never worked with him.
Following a Reuters inquiry to LinkedIn about whether Woods’ and McDermott’s accounts were genuine, both accounts were taken down. LinkedIn declined to discuss the specific cases but said its policy was to remove accounts it found to be fraudulent.
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