AIFortuneabout 2 hours ago
AI gets its own "boiler room" scandal
3 min read
The SEC alleges The Spaventa Group, run by Andrew Spaventa, raised over $74 million selling pre-IPO shares of SpaceX, Anduril, Anthropic, and Perplexity to more than 800 investors, including over 100 retirees. Investors paid on average 46% more than Spaventa's companies paid, with markups up to 91%.
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