Here in Norway they have a name (to the Goodfellas ref.), in the lines of "bankruptcy jockeys/riders", meaning that they ride companies into bankruptcy.
They are especially rampant in construction, where it's easy to get bank loans, by showing contracts and won bids (which are won by aggressively undercutting competition), and inventories can be flipped with ease.
We do have laws that essentially gets them banned from owning companies, if they pull that off too many times - but they easily circumvent that by just persuading friends and family to start companies on their behalf. It's a scummy business.
They are especially rampant in construction, where it's easy to get bank loans, by showing contracts and won bids (which are won by aggressively undercutting competition), and inventories can be flipped with ease.
We do have laws that essentially gets them banned from owning companies, if they pull that off too many times - but they easily circumvent that by just persuading friends and family to start companies on their behalf. It's a scummy business.