Facebook Share Scammer Guilty of Stealing $11 Million
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Troy Stratos, who lied his way into the wealthiest circles in Silicon Valley, used the frenzy for pre-IPO Facebook Inc. shares to bilk investors out of $11.25 million, a federal jury in California concluded.
The Sacramento jury found Stratos, 49, guilty of wire fraud and money laundering for masquerading as an agent of billionaire Carlos Slim, prosecutors said Tuesday in a statement. Stratos convinced the manager of a Philadelphia family office to send money that he would in turn use to buy Facebook shares from employees before its initial public offering in May 2012.