Welcome to WebmasterWorld Guest from 54.167.46.29

Forum Moderators: incrediBILL & lawman

Message Too Old, No Replies

Fund Manager Charged Over $11 Million Groupon and Facebook Share Scam

     
10:57 pm on Nov 17, 2011 (gmt 0)

Administrator from GB 

WebmasterWorld Administrator engine is a WebmasterWorld Top Contributor of All Time 10+ Year Member Top Contributors Of The Month

joined:May 9, 2000
posts:22282
votes: 236


Fund Manager Charged Over $11 Million Groupon and Facebook Share Scam [reuters.com]
A fund manager accused of running an $11 million scam promoting phony access to coveted shares of Facebook and Groupon Inc before their public debut was arrested on criminal charges on Thursday.

John Mattera, who ran the Praetorian Global Fund registered in the British Virgin Islands, spent nearly $4 million of the misappropriated money on personal expenses, including leasing luxury cars, buying jewelry, paying personal taxes and settling a private civil fraud lawsuit, according to a criminal complaint unsealed in Manhattan federal court.

 

Join The Conversation

Moderators and Top Contributors

Hot Threads This Week

Featured Threads

Free SEO Tools

Hire Expert Members