Two cousins admit to a double-booking rental scam to steal $8.5 million and disrupt travel nationwide [Los Angeles Times (CA)]
Airbnb, Inc. - Class A (ABNB)
Company Research
Source: Los Angeles Times
The two men, Shray Goel, 37, of Calabasas and his cousin, Shaunik Raheja, 36, of Denver, primarily targeted rental guests perceived to be Black for cancellations, according to the federal superseding indictment, although they did not plead guilty to that allegation. The short-term rental strategy was launched in 2013 and involved an online business to list properties on digital platforms, which reportedly included Vrbo and Airbnb. “Airbnb is built on trust, and bad actors have no place in our community. We supported the US Attorney's Office and the FBI throughout their investigation to help ensure those responsible are held accountable, and we are thankful for their work. We have taken multiple steps to strengthen our defenses to help make rare issues like this even rarer,” an Airbnb spokesperson said. Vrbo did not immediately respond to a request for comment. The business created by Goel and Raheja operated under various names, including Abbot Pacific LLC and Jet Set Work LLC,
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ABNB
Earnings
- 2/12/26 - Miss
ABNB
Sec Filings
- 4/10/26 - Form 4
- 4/10/26 - Form 144
- 4/8/26 - Form 4
- ABNB's page on the SEC website