100% this. The CEO at my last company squandered hundreds of millions of investor funds, and now he's the CEO at another company taking on hundreds of millions in debt.
Another example: current CEO of Cerebras, is an SEC felon from a prior company (for cooking the books), and now he's CEO of a public company.
Another example: current CEO of Cerebras, is an SEC felon from a prior company (for cooking the books), and now he's CEO of a public company.