StubHub's reputational problems continue to mount.

Already battered by negative headlines surrounding customer service failures tied to the FIFA World Cup and Coachella, the company is now facing a new wave of scrutiny after a CBC News investigation detailed CEO Eric Baker's ties to companies that both sell tickets on StubHub and finance professional ticket resellers using the platform.

The revelations raise significant ethical questions—and potentially more serious questions about corporate governance and disclosure.

In addition to serving as StubHub's CEO, Baker is the managing partner of Andro Capital, which, according to the company's SEC filings, sells ticket inventory on StubHub. Those same filings also reveal that Andro is affiliated with Colloquy Capital, a financing company that provides short-term loans to ticket brokers secured by expected proceeds from future StubHub ticket sales.

The relationship isn't new. Music manager, activist and frequent Decibel & Docket podcast guest Randy Nichols first raised questions about Andro Capital during a California Assembly hearing in April and expanded on those concerns during Decibel's July 3 podcast. Together, Andro and Colloquy create a vertically integrated resale operation in which Baker potentially profits from both the sale of tickets and the financing of those sales, all within a marketplace he oversees.

That creates an obvious conflict.