You have to understand the SCOPE of the investments of a company as large as Simon and Sons. This was one of hundreds of business investments they were involved in at the time.
A typical corporate background check was conducted by Deloitte Touche, a major accounting firm used by Simon & Sons. The search went back 10 years and focused on Mr. Hindelang’s professional reputation. By all accounts, he was a recognized leader in the industry. His drug past was beyond the ten-year window typical of these investigations
A professional background check is certainly reasonable and prudent. That's why you hire those kinds of businesses. That Bill himself should have been looking into the guy's background is sort of like suggesting The President go investigate potential postal employees.