Man Cops To $11 Million Scam Involving Fake Facebook, Groupon Stock
Before several key investors were dumping their Facebook stock, one Florida man made millions of dollars off his shares. Too bad they didn't really exist. John Mattera, 50, pleaded guilty Tuesday to charges of fraud and conspiracy after running an $11 million scam involving nonexistent shares of Facebook and Groupon.
Before several key investors were dumping their Facebook stock, one Florida man made millions of dollars off his shares. Too bad they didn’t really exist. John Mattera, 50, pleaded guilty Tuesday to charges of fraud and conspiracy after running an $11 million scam involving nonexistent shares of Facebook and Groupon.
As AllFacebook reported last year, Mattera was accused of selling fake access to shares of Facebook and Groupon, months before the social network went public. Mattera eventually racked up $11 million of investments, although people were just helping the man’s checkbook.
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