✉news ScienceSpace first seen 6 h ago, last 1 h ago, peak #6
SEC says fake pre-IPO OpenAI, SpaceX share scheme funded shopping sprees
Original: Investors thought they were buying pre-IPO OpenAI and SpaceX shares. Their cash went to strip clubs, Bloomingdale’s, and shopping on Amazon, SEC alleges
US regulators allege investors were sold what they believed were pre-IPO shares in OpenAI and SpaceX, but the money raised was instead spent on strip clubs, Bloomingdale's and Amazon purchases. The SEC has charged those behind the scheme, and financial media are covering the case as a warning about the murky market for private-company stakes.
Why now: Fresh SEC enforcement action alleging misuse of investor cash in a hot pre-IPO market is drawing wide attention.
Rank over time, top of the chart is #1. 5 snapshots from 6 h ago to 1 h ago.
Evidence
- Investors thought they were buying pre-IPO OpenAI and SpaceX shares. Their cash went to strip clubs, Bloomingdale’s, and shopping on Amazon, SEC alleges · Yahoo Finance
- Investors thought they were buying pre-IPO OpenAI and SpaceX shares. Their cash went to strip clubs, Bloomingdale’s, and shopping on Amazon, SEC alleges · Fortune
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