Ok, fair.
Now - you mentioned he lost his job of 16 years over it.
Who's to say he didn't violate a policy regarding the type of shit he was doing which he knew before hand and thought nothing of it or thought no one would ever find out? NOT SAYING THIS IS THE CASE but maybe it was...
As an authoritative figure for a company at the "CEO" /Executive level - what would be the perception of him by employees and other executives for firms he associates himself with? What would be the perception of the company?
Not so much what he was doing - but more or so the primary focus being how he violated a policy?
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