Facebook and Groupon Shares Allegedly Faked in Investment Scam
Federal prosecutors have accused 50-year-old John Mattera of operating a two-year investment scheme that may have cost investors more than $10 million. He was arrested last month in South Florida and charged with multiple investment scam crimes. According to the specific allegations against him, Mr. Mattera may have enticed investors into paying for shares of closely held companies, including Facebook and Groupon, when no such shares were available for sale.
The complaint against Mr. Mattera accuses him of using most of the money for personal items, such as luxury cars, jewelry and interior design, and not investing the money according to the terms he set out for investors.
Mr. Mattera has been charged with various crimes, including securities fraud, and he faces decades in jail if convicted.
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