The Securities and Exchange Commission on Tuesday said it issued fraud charges against Cooper Morgenthau after he allegedly stole more than $5 million from a...
The Securities and Exchange Commission on Tuesday said it issued fraud charges against Cooper Morgenthau after he allegedly stole more than $5 million from a special-purpose acquisition company and from investors in two other SPACs that he incorporated.
The regulator alleged Morgenthau, the former chief financial officer of African Gold Acquisition Corp. , embezzled money from the company. The SEC also alleged he stole funds from another SPAC series called Strategic Metals Acquisition Corp. I and II to pay for his personal...
The regulator alleged Morgenthau, the former chief financial officer of African Gold Acquisition Corp. , embezzled money from the company. The SEC also alleged he stole funds from another SPAC series called Strategic Metals Acquisition Corp. I and II to pay for his personal expenses and to trade in crypto assets and other securities. Both allegations took place from June 2021 to July 2022, the regulator said.
The U.S. attorney’s office for the Southern District of New York also issued criminal charges against Morgenthau in a parallel action. African Gold Acquisition in August ousted Morgenthau as CFO following an internal investigation over improper withdrawals from its operating bank accounts and attempts to conceal the withdrawals.More bosses order workers back to the office as job market shifts.
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