Similar Stories to A Firm Selling Fake Shares Of Airbnb, Uber, And Lyft Made $2 Million In 4 Months, Doj Alleges on Bing News

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:
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