Delaware County who’d dropped out of college and couldn’t write code. But with $27 million in venture capital in the bank, his AI-powered startup took a risky marketing gamble in the South Philly stadium complex that announced his big ambitions.
Over three seasons, with the Phillies slugging their way to a World Series, the Eagles racing to another Super Bowl, and a Sixer winning MVP, hometown crowds looked up at scoreboards with ads for his little-known company called LifeBrand. And as Colaiezzi wooed investors from the VIP suites, he sold an underdog story fit for the Philly fanbase and the broader cultural moment.
LifeBrand, he said, was a safeguard for the cancel culture era, with software that could scour years of social media in seconds and flag compromising posts. Users could purge past mistakes with a click and potential…
PROCUREMENT & EXPENDITURE (STOPPING KICKBACKS)
Procurement fraud usually involves inflated invoices or “fictitious” vendors.
- The Three-Way Match: Never pay an invoice unless you have matched the Purchase Order (PO), the Delivery Note (signed), and the Supplier Invoice.
- Vendor Master File Review: Review your vendor list annually. Look for suppliers with the same bank details or physical addresses as your employees.
- Dual Authorization: Implement a “Two-to-Sign” rule for all EFT payments above a certain threshold (e.g., R5,000).
- No “Cashing” of Checks: If you still use physical checks, strictly prohibit “Cash” as a payee and store blank checks in a dual-lock safe.