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Online wedding vendor marketplace Borrowed & Blue last November raised $7 million in VC funding led by Foundry Group. But now the Charlottesville, Va.-based startup is shuttered -- and more than two dozen employees are out of work — after the board discovered alleged financial improprieties related to Borrowed & Blue's married co-founders, Adam and Christin Healey.

What happened? Sources tell Axios that Christin used a company credit card to make large personal purchases, both domestic and international. Adam claims that he was unaware of the charges until after a company audit. There also were broader questions about Chirstin's role and compensation, as she originally was introduced to investors as a non-operating co-founder, but that seemed to shift over the past year.

Scoop credit: Many of these details also appear in a local CBS affiliate report.

What now? There was still some money in the bank that is being returned to investors, and we hear there is an asset sale process in place. The company's website remains online.

Due diligence: Expect this situation to be used by other VCs as an example of why they won't back married co-founders, despite notable success stories like Eventbrite.

For the record: Foundry Group declined comment, and Adam Healey did not return my email.

Go deeper

Updated 3 hours ago - Politics & Policy

Report: Pentagon watchdog finds Ronny Jackson drank on duty and harassed staff

Rep. Ronny Jackson walking through the Canon Tunnel to the U.S. Capitol in January. Photo: Stefani Reynolds/Getty Images

Rep. Ronny Jackson (R-Texas) allegedly made "sexual and denigrating" comments about a female staffer, drank alcohol and took sleeping medication while working as White House physician, according to a report obtained by CNN Tuesday night.

Driving the news: The Department of Defense inspector general's report stems from a years-long investigation. Jackson has called the allegations "false and fabricated."

DOJ pressed to enforce Al Jazeera foreign agent ruling

Illustration: Aïda Amer/Axios

The Justice Department is being pressed to enforce its own demand that the U.S. arm of Qatari broadcaster Al Jazeera register as a foreign agent.

Why it matters: The launch of Al Jazeera's new right-of-center U.S. media venture, Rightly, has refocused attention on the media company's alleged links to Doha, and DOJ's efforts to crack down on media outlets viewed as foreign interest mouthpieces.

Poll: Immigration is America's most-polarizing issue

Data: The American Aspirations Index/Populace; Chart: Will Chase/Axios

Immigration was found to be the most polarizing issue in America based on new polling from Populace.

Why it matters: Americans have surprisingly similar priorities for the U.S., but immigration stands out as one of the few issues with clear partisan differences. It underscores the challenge for advocates and lawmakers hoping to pass immigration reform in the coming weeks amid narrow margins in Congress.