(RoyalPatriot.com )- iOTWreport reports that former coworkers of Gustavo Arnal, the 52-year-old executive from Bed Bath & Beyond who leaped from a skyscraper in New York City earlier this month, expressed shock at his death and said it was not typical of him not to face obstacles in life head-on.
His employees referred to Arnal as “bigger than life,” and they appreciated working with him on challenging tasks.
According to the New York City medical examiner’s office, who also stated that the executive died from multiple traumatic trauma, the executive committed suicide. Sources say that Arnal did not speak to or leave a letter for his wife, who was present before he jumped.
The company declared, “This awful loss has crushed the entire Bed Bath & Beyond Inc. team.”
According to Fox News Correspondent David Lee Miller, corporate fraud charges are surmised to be the reason for the apparent suicide.
Arnel now looks to have deceived investors by executing a suspicious sale of his Bed Bath and Beyond stock just after using a technique called the “pump and dump.”
A few weeks before he committed suicide, Arnel had publicly said he would maintain possession of his shares before mysteriously selling them.
Tuesday saw a decline in Bed Bath’s stock as investors reflected on the organization’s leadership quandary in the wake of Arnal’s passing. Since the organization’s chief operating officer was recently fired, Sue Gove has taken over as acting CEO.
According to police, 52-year-old Arnal plunged from a building in the heart of Manhattan on Friday afternoon. The iconic skyscraper also referred to as the “Jenga Tower” or the “Jenga Building,” has more than 50 stories of oddly stacked apartments.
Arnal was recently identified as one of many defendants in a class action lawsuit that alleged a “pump-and-dump” stock fraud operation.
Coincidentally, or maybe not so much, the story of a college student who won millions trading only one stock was featured by iOTWreport last month. What was that stock? You guessed it—that stock was Bed Bath & Beyond.
On August 23, a class-action complaint was filed, claiming BBB, Arnal, the founder of Chewy.com, Ryan Cohen, and others of falsely inflating the value of the company’s stock to sell off shares at a higher price before it dropped. In the case, BBB shareholders assert that they lost over $1.2B due to the pump-and-dump scheme.