Broker charged with stealing thousands from interested Facebook investors: DA
Facebook Credit: Getty Images
The Manhattan DA indicted a securities broker Thursday for allegedly stealing hundreds of thousands of dollars from investors who thought they were getting a piece of Facebook.
Ronen Zakai, 42, was charged with grand larceny, securities fraud and scheme to defraud for his alleged scam that lasted between December 2010 and January 2012.
During that time, Zakai gathered $705,000 from five investors, two of whom used their retirement savings, and told them he was going to invest in Facebook's initial public offering that went live in May 2012, the DA said.
He allegedly spent the money instead on car payments, a country club membership, traveling and shopping.
'Democrats say this is a misuse of taxpayer funds' Nassau Republicans awarded over $1 million in taxpayer-funded legal contracts to the one-man law firm of Sheharyar Ali, a longtime GOP ally. Ali's father is an adviser to Nassau County Executive Bruce Blakeman. NewsdayTV's Ken Buffa and Newsday Nassau County politics reporter Bahar Ostadan have the story.
'Democrats say this is a misuse of taxpayer funds' Nassau Republicans awarded over $1 million in taxpayer-funded legal contracts to the one-man law firm of Sheharyar Ali, a longtime GOP ally. Ali's father is an adviser to Nassau County Executive Bruce Blakeman. NewsdayTV's Ken Buffa and Newsday Nassau County politics reporter Bahar Ostadan have the story.
