SEC Charges Rothenberg Ventures in Fraudulent Scheme
"Without admitting or denying the allegations in the SEC’s complaint, Rothenberg and Rothenberg Ventures agreed to settle the charges. The settlement is subject to approval by the federal district court for the Northern District of California which would determine the amount of disgorgement and civil money penalties. Rothenberg also agreed to be barred from the brokerage and investment advisory business with a right to reapply after five years. An SEC order imposing the bar will be instituted following court approval of the settlement" [1].<p>Besides blowing investors' money on lavish staff events, which is a dick move but not necessarily illegal, Rothenberg also invested "$5 million from Rothenberg Ventures' second and third funds in his own startup company, River Studios" [2].<p>[1] <a href="https://www.sec.gov/news/press-release/2018-160" rel="nofollow">https://www.sec.gov/news/press-release/2018-160</a><p>[2] <a href="https://en.wikipedia.org/wiki/Rothenberg_Ventures" rel="nofollow">https://en.wikipedia.org/wiki/Rothenberg_Ventures</a>