FIN Confirms: Joe Chen Has Left SoFi's Board
FIN Confirms Joe Chen Has Left SoFi’s Board
The August 8 installment of FIN detailed the strange and suspicious history of Joe Chen’s “Chinese Facebook” company Renren—still publicly traded in the US despite its paucity of revenue—and SoFi, one of the highest-flying fintech companies in America, which recently went public via a SPAC.
As recently as May, major media outlets including Bloomberg were reporting that Chen, under legal assault from Renren shareholders for undervaluing his investment in the company on which he served as a director, was still on SoFi’s board of directors. FIN’s 8/8 installment questioned this, even though Chen’s LinkedIn profile still lists him on the board.
On Monday August 9th, a few hours after FIN published, a SoFi spokesperson confirmed to FIN that Chen is no longer on the board. It’s unclear how this will affect Congressman Brad Sherman’s attempts to get the SEC to investigate Chen’s role in SoFi’s SPAC market debut.