After I graduated from art school back in 2007, one of the execs tried to recruit myself, some close friends and others for this new animation studio he was opening up. Even though he had paid folks for some freelance stuff, there was something off about him and I never trusted him.
I found out later he began posting classmates' reels on his website and trying to pass it off as the studio's work without their permission:
Karma, it's a helluva drug.
http://www.ponzitracker.com/main/2011/11/25/georgia-police-television-animation-studio-was-21-million-po.html