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Investing

SEC Crushes Pre-IPO Share Scam… Facebook, Groupon, Zynga…

Photo of Jon C. Ogg
By Jon C. Ogg Published

The SEC has cracked down on a pre-IPO scam that targeted investors looking to buy into pre-IPO shares of companies like Facebook, Twitter, Zynga, Bloom Energy, Fisker, and Groupon.  The emergency enforcement action alleges that John A. Mattera and several other individuals carried out the scam using a newly-minted hedge fund named The Praetorian Global Fund.  FULL SEC RELEASE

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Photo of Jon C. Ogg
About the Author Jon C. Ogg →

Jon Ogg has been a financial news analyst since 1997. Mr. Ogg set up one of the first audio squawk box services for traders called TTN, which he sold in 2003. He has previously worked as a licensed broker to some of the top U.S. and E.U. financial institutions, managed capital, and has raised private capital at the seed and venture stage. He has lived in Copenhagen, Denmark, as well as New York and Chicago, and he now lives in Houston, Texas. Jon received a Bachelor of Business Administration in finance at University of Houston in 1992. www.247wallst.com.

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Douglas A. McIntyre |

Cramer Hints at Scam in Qualcomm, But Not By the Company (QCOM)

Cramer has a fairly long video discussing "scams on Wall Street" on TheStreet.com video section.  Most of the video is…

National Australia Bank Adds Safety Features Amid Rise in Crypto Scams
247patrick |

National Australia Bank Adds Safety Features Amid Rise in Crypto Scams

The National Australia Bank (NAB) has implemented several measures in the last six months to protect customers from cryptocurrency scams as…

Web3 Startup Unveils Scam Prevention Tool and Raises $7M in Seed Funding
247patrick |

Web3 Startup Unveils Scam Prevention Tool and Raises $7M in Seed Funding

Web3 Builders, a new Web3 startup, bagged $7 million in seed funding from Road Capital, OpenSea Ventures, and other investors.

Over 500 Scam Tokens Deployed on Coinbase’s Base: Report
247patrick |

Over 500 Scam Tokens Deployed on Coinbase’s Base: Report

Base, a layer-2 blockchain that debuted earlier this month, has seen over 500 scam tokens since mid-July.

Don’t Fall For These Common Retirement Scams
David Hanson |

Don’t Fall For These Common Retirement Scams

It is very important for retirees to be aware of scams so that they can save their hard earned money.

UK’s Crime Agency Posts Crypto Investigator Job After $3B Stolen in 2022
247patrick |

UK’s Crime Agency Posts Crypto Investigator Job After $3B Stolen in 2022

The U.K.’s key crime-fighting agency is launching a specialized unit to tackle crypto scams in the country.

Blockchain Australia Launches New Initiatives in Response to Banking Limits
247patrick |

Blockchain Australia Launches New Initiatives in Response to Banking Limits

Blockchain Australia has responded to recently imposed banking limits on crypto payments, aiming to tackle the issue “head-on by using real…

DoJ Seizes Crypto Worth $112M Stolen in ‘Pig Butchering’ Scams
247patrick |

DoJ Seizes Crypto Worth $112M Stolen in ‘Pig Butchering’ Scams

The Justice Department has announced it had seized around $112 million stolen from numerous victims in various digital assets scams.

Crypto Exchange Comes Up with Dubious Stablecoin to Refund Clients
247patrick |

Crypto Exchange Comes Up with Dubious Stablecoin to Refund Clients

Nigerian cryptocurrency exchange Patricia has launched a native token called Patricia token.

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