Shamoon Rafiq, who was arrested for scamming people with a false Google stock sale, has plead guilty to wire fraud. Rafiq was arrested for attempting to sale bogus, pre-IPO Google stock. He faces 51 to 63 months worth of jail time.
Victims of Rafiq's scam had "invested" in almost $3 million worth of nonexistent Google stock. Although Google has since filed for its IPO, at the time of the scam, the company's intentions were unclear. Rafiq told his victims that they would be getting in on a pre-IPO Google stock sale that would be only available to friends and family and that the prices would be discounted.
To further bolster his scam, Rafiq also stated that he attended Stanford with the co-founders of Google. Rafiq's lawyer requested that he be allowed to serve his sentence in the Netherlands because Rafiq is Dutch.
WebProNews | Breaking eBusiness News
Your source for investigative ebusiness reporting and breaking news.
Publish A Comment
-

What Makes a Quality URL?
In setting up a website, the URL is one of the most important... -

Getting Noticed with Google Maps
Are you utilizing Google Maps? If not, you could be hurting your... -

Gray Areas of FTC Guidelines
Although the FTC's new advertising guidelines are scheduled to go...
iEntry 10th Anniversary
RSS
Newsletter
Advertising



















