The more cynical framing, especially on this site, is that the "Founder CEO" has a presumptive immunity from prosecution for banal stuff like bookeeping. They aren't perceived as beholden to the shareholders in the same way, because we in the peanut gallery think they "own" the company more than mere investors do.

But obviously no, in the real world fraud is fraud and if you get caught cooking books with other people's money you go to jail.

The same CFO who has been signing off on every deal?