Legal
WeWork Stock Case Spurs Criminal Charges Over $77 Million Tender Offer
- Mall owner Larmore accused of trying to manipulate the stock
- His lawyer vows exoneration in both SEC and criminal cases
The case is the latest example of criminal charges over alleged attempts to manipulate stock through fake tender offers.
Photographer: Yuki Iwamura/BloombergThis article is for subscribers only.
A strip mall mogul accused of running a botched scheme to manipulate the price of WeWork Inc. shares was arrested on fraud charges over what prosecutors called a phony $77 million tender offer.
Jonathan M. Larmore, of Punta Gorda, Florida, was taken into custody Thursday morning and was scheduled to appear before a magistrate judge in Fort Myers in the afternoon. He announced the fake offer late last year, shortly before the co-working company filed for bankruptcy, to manipulate its stock price, according to a statement by Manhattan US Attorney Damian Williams.