A Firm Selling Fake Shares Of Airbnb, Uber, And Lyft Made $2 Million In 4 Months, Doj Alleges

REUTERS/Mike Blake New York-based firm Knightsbridge Private Partners allegedly made $2.1 million in four months selling fake shares of Uber, Lyft, Airbnb, and other buzzy tech companies to investors, Forbes reported, citing a court filing. Now, the Department of Justice is investigating the firm for fraud, Forbes found. Knightsbridge claimed it had "pre-initial public offering" shares, but investigators allege they never held any shares. They also allegedly sold shares of Palantir, which has yet to officially file for an IPO. Read more on Business Insider. A New York-based firm allegedly made a killing selling phony shares of popular tech companies, according to a Forbes report, citing court filings. The complaint from the Department of Justice claims Knightsbridge Private Partners duped investors into pay $2.1 million for non-existent "pre-initial public offering" shares of companies such as Uber, Airbnb, and Lyft.See the rest of the story at Business InsiderNOW WATCH: A big-money investor in juggernauts like Facebook and Netflix breaks down the '3rd wave' firms that are leading the next round of tech disruptionSee Also:The chief strategist at a $1.2 trillion investing titan explains why pain for Uber, Peloton, and WeWork is good news for the stock market — and helping fend off another tech bubbleUber's founders are starting to cash out.

BING NEWS:
  • More than 250 websites selling fake weight-loss drugs reported by anti-counterfeit firm
    April 15 (Reuters) - The cybersecurity firm BrandShield has taken down more than 250 websites selling fake versions of popular weight-loss and diabetes drugs in the GLP-1 class, the company’s ...
    04/15/2024 - 3:33 am | View Link
  • Chesterfield-based mapping firm sells for $44 million
    "Over the past several months, we have become extremely ... our employees and our customers." The $44 million purchase price includes cash, shares of Bowman common stock and seller notes ...
    04/14/2024 - 1:00 pm | View Link
  • Safety Firm UL Solutions’ Upsized IPO Raises $946 Million
    UL Solutions Inc.’s initial public offering raised $946 million as the safety testing and inspection company expanded the size of the offering and priced the shares within a marketed range. Skip ...
    04/11/2024 - 1:00 pm | View Link
  • Capita shares rise as group extends contract with telecoms firm
    Capita shares rose on Wednesday after the group confirmed it had extended its contract with a 'leading' European telecoms company. Shares in Capita rose 3.15 per cent or 0.44p to 14.38p on ...
    04/9/2024 - 10:19 pm | View Link
  • Billionaire whose firm backed Trump’s $175 million bond reveals how the deal came together
    Don Hankey, the chairman and majority shareholder of Knight Specialty Insurance, told CNN on Tuesday that the deal to underwrite former President Donald Trump’s $175 million bond in New York ...
    04/2/2024 - 7:53 am | View Link
  • More

 

Welcome to Wopular!

Welcome to Wopular

Wopular is an online newspaper rack, giving you a summary view of the top headlines from the top news sites.

Senh Duong (Founder)
Wopular, MWB, RottenTomatoes

Subscribe to Wopular's RSS Fan Wopular on Facebook Follow Wopular on Twitter Follow Wopular on Google Plus

MoviesWithButter : Our Sister Site

More Business News