The Securities and Exchange Commission (SEC) has charged two Californian men and their investment firm with operating a Ponzi scheme as they purported to specialise in catering to middle-class investors and securing exorbitant returns by investing in hot pre-IPO stocks.
Investors were offered opportunities previously only available to the one-percenters.
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According to SEC, instead of using the firm’s purported proprietary trading models and investing in pre-IPO shares of well-known tech companies as promised to investors, Jaswant Gill ... (read more)