Ex-CFO who stole $5M to trade crypto and ‘meme stocks’ gets 3 years in prison By Cointelegraph
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The former chief financial officer of a special purpose acquisition company (SPAC) was sentenced to three years in prison after embezzling $5 million, which he used to trade cryptocurrencies and “meme stocks.“
An April 27 press release from the United States Department of Justice said Cooper Morgenthau, the former chief financial officer of African Gold Acquisition Corporation (AGAC), embezzled more than $5 million from three different SPACs: AGAC, Strategic Metals Acquisition Corporation I (SMAC I) and Strategic Metals Acquisition Corporation II between June 2021 and August 2022.
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© Reuters.
The former chief financial officer of a special purpose acquisition company (SPAC) was sentenced to three years in prison after embezzling $5 million, which he used to trade cryptocurrencies and “meme stocks.“
An April 27 press release from the United States Department of Justice said Cooper Morgenthau, the former chief financial officer of African Gold Acquisition Corporation (AGAC), embezzled more than $5 million from three different SPACs: AGAC, Strategic Metals Acquisition Corporation I (SMAC I) and Strategic Metals Acquisition Corporation II between June 2021 and August 2022.
Continue Reading on Coin Telegraph
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