Former Oregon Gubernatorial Candidate Pleads Guilty To Facebook IPO-Related Fraud
Florida-based fund manager and former Oregon gubernatorial candidate Craig Berkman pleaded guilty Tuesday to defrauding investors by promising them access to nonexistent Facebook shares prior to the social network’s initial public offering in May 2012, Reuters reported.
Florida-based fund manager and former Oregon gubernatorial candidate Craig Berkman pleaded guilty Tuesday to defrauding investors by promising them access to nonexistent Facebook shares prior to the social network’s initial public offering in May 2012, Reuters reported.
The 1994 Republican gubernatorial candidate pleaded guilty to one charge of securities fraud and one charge of wire fraud, according to Reuters, and each carries a maximum sentence of 20 years in prison. U.S. Magistrate Judge Kevin Nathaniel Fox set sentencing for Oct.
WORK SMARTER - LEARN, GROW AND BE INSPIRED.
Subscribe today!
To Read the Full Story Become an Adweek+ Subscriber
Already a member? Sign in