SEC probes possibly fraudulent Facebook pre-IPO sales
The U.S. Securities and Exchange Commission is probing possibly fraudulent sales of Facebook stock in advance of the company’s initial public offering, CNET has learned.
SEC investigators have issued subpoenas demanding the financial records of Paul Tabet, a manager at a venture capital fund called Ventures Trust II LLC, and his wife.
The commission is investigating whether Tabet and fellow fund manager Craig Berkman — once a leading financier in Portland who fled to Florida to escape creditors — raised more than $3 million to purchase Facebook shares, and if so, where the money…
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