(FiveNation.com)- Former coworkers of Gustavo Arnal, the 52-year-old Bed Bath & Beyond executive who allegedly jumped from a building in New York City earlier this month, expressed shock at his passing, saying that it was not like him not to meet life’s challenges.
The coworkers described Arnal as “larger than life” and said they enjoyed working with him on challenging projects.
iOTWreport reports that the executive committed suicide, according to the New York City medical examiner’s office, which also said that he died from numerous traumatic trauma. Sources informed WNBC that Arnal did not leave a note or speak to his wife, who was there at the time.
The firm said, “The whole Bed Bath & Beyond Inc. organization is devastated by this tragic loss.”
Fox News Correspondent David Lee Miller reveals that after Bed Bath And Beyond’s CFO Gustavo Arnel allegedly took his own life, allegations of fraud relating to the company he led are being blamed for the incident.
It now appears as if Arnel misled investors by making a mysterious sale of his shares of Bed Bath and Beyond before mysteriously taking his own life.
Arnel had publicly pretended he would keep ownership of the shares before mysteriously dumping them just weeks before taking his own life.
As investors considered the company’s leadership dilemma following Arnal’s passing, Bed Bath’s shares fell on Tuesday. The chief operating officer was recently dismissed, and Sue Gove serves as the organization’s interim CEO.
Police said 52-year-old Arnal fell from a building in central Manhattan on Friday afternoon. Known locally as the “Jenga Tower” or the “Jenga Building,” the landmark skyscraper boasts more than 50 levels of unusually stacked flats.
Arnal was among many defendants recently named in a class-action suit alleging a “pump-and-dump” stock fraud scheme.
Last month, iOTWreport covered a story about a college kid who made millions trading just one stock. That stock was, you guessed it, Bed Bath and Beyond.
A class-action lawsuit was launched on August 23, accusing BBB, Arnal, Chewy.com founder Ryan Cohen, and others of fraudulently raising the company’s stock price to sell off shares at a higher price before it fell. Shareholders of BBB claim in the lawsuit that the pump-and-dump scam caused them to lose nearly $1.2B.