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Shamoon Rafiq, who was arrested at his home March 5, is accused of fraud as part of the scheme to sell victims shares of "Series B Preferred Stock" in Google, prior to what he described as the company's impending initial public offering, according to authorities.
Actually, why would a company like Google who seems to be doing alright with privite funding need millions of dollars in public funding? Are the planning on sending a mission to mars or something? Why do they need so much public funding? I have a hard time seeing the need for a company in such a focused market (internet searching) need millions of dollars for reasearch and design or whatever else they can spend money on.
Any official word from google justifying the need for public funding hopefuly will come out well before anything happens.
The FBI identified the victims only by profession, including the chairman of a global telecommunications company, a New York investment banker, a corporate attorney and a senior executive at a brokerage firm, according to the complaint.
The most shocking part is that these people should have just plain known better. I mean, I know sometimes people get jobs they ought not have, but come on...
Well at least 3 out of the 4 got what was coming to them. If I was on the Jury I don't know if I'd give this guy 30 years or an award for initiative...LAMO ;)
It appears he liked to take those out for a ride who are known for taking everyone else out for a ride ;) What goes around comes around!