Bed Bath & Beyond CFO Gustavo Arnal falls from a skyscraper to his death

https://sputniknews.com/20220904/bed-bath–beyond-cfo-gustavo-arnal-falls-from-skyscraper-to-his-death-1100369328.html

Bed Bath & Beyond CFO Gustavo Arnal falls from a skyscraper to his death

Bed Bath & Beyond CFO Gustavo Arnal falls from a skyscraper to his death

The 52-year-old CFO of Bed Bath & Beyond died Friday after falling in midtown Manhattan in an act that investigators believe was… 09.04.2022, Sputnik Mundo

2022-09-04T21:37+0000

2022-09-04T21:37+0000

2022-09-04T21:37+0000

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Bed Bath and Beyond CFO Gustavo Arnal died Friday after jumping from what is colloquially known as the “Jenga Building” in Tribeca. The building is 60 stories tall and features condominiums costing millions of dollars. Arnal jumped from the 18th floor balcony and was found around 12:30 p.m. insider trading and breach of fiduciary duty after he and Gamestop chairman Ryan Cohen apparently inflated the company’s stock value in a “puff and dump” scheme before it crashed. Cohen, who is the founder of Chewy and is known for “investing in memes,” bought 10% of Cama Baño & Beyond in March before selling his shares and earning tens of millions of dollars. Arnal sold $1 million worth of his shares around the same time. Then on Wednesday Bed Bath & Beyond announced the closure of around 150 stores, as well as a decision to lay off around 20% of its employees as its shares fell more than 21%. “Gustavo will be remembered by everyone he worked with for his leadership, talent and stewardship of the Company,” said Harriet Edelman, Bed Bath & Beyond president. “I am proud to have been his colleague, and he will be sorely missed by all of us at Bed Bath. Beyond and everyone who had the pleasure of meeting him.” Police announced that they would investigate the incident, while the New York City Medical Examiner’s Office will determine the cause of death.

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The 52-year-old CFO of Bed Bath & Beyond died in a fall in midtown Manhattan on Friday in an act investigators believe was intentional. Arnal did not leave a note, and did not say anything to his wife before the fatal accident. He fell from 56 Leonard Street, or the “Jenga Building” in Tribeca.

The CFO of Bed Bath and Beyond, Gustavo arnal, fell to his death on Friday after jumping from what is colloquially known as the “Jenga Building” in Tribeca. The building is 60 stories tall and features condominiums costing millions of dollars. Arnal jumped from the 18th floor balcony and was found around 12:30 pm He was pronounced dead by EMS at the scene.

Arnal jumped to his death just two weeks after being named in a class action lawsuit over allegations of federal securities fraud, insider trading and breach of fiduciary duty after he and Gamestop president Ryan Cohen apparently inflated the value of the company’s shares in a “bomb”. and dump” before it sank.

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Cohen, who is the founder of Chewy and is known for “investing in memes,” bought 10% of Bed Bath & Beyond in March before selling his shares and earning tens of millions of dollars. Arnal sold $1 million worth of his shares around the same time period.

Then Wednesday Bed Bath & Beyond announced the closure of some 150 stores as well as the decision to lay off about 20% of its employees when its inventories fell more than 21%.

“Gustavo will be remembered by everyone he worked with for his leadership, talent and stewardship of our company,” said Harriet Edelman, president of Bed Bath & Beyond. “I am proud to have been his colleague, and he will be sorely missed by all of us at Bed Bath & Beyond and everyone who had the pleasure of knowing him.”

“At Bed Bath & Beyond Inc., Mr. Arnal was instrumental in guiding the organization through the coronavirus pandemic, transforming the company’s financial foundation and building a strong and talented team,” the company said in a statement. “He was also an esteemed colleague in the financial community.”

Police announced that they would investigate the incident, while the New York City Medical Examiner’s Office will determine the cause of death.

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