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JUL 19, 2013 - Betabeat

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Randos Still Getting Busted for Alleged Dumb Facebook Stock Scams

"Wat?" (Photo by Kevork Djansezian/Getty Images) Apparently, a year later, we're still not done with the fallout from the Facebook IPO. The Manhattan District Attorney has just indicted Ronen Zakai, a former stockbroker, for an alleged scheme to defraud his pals with promises of Facebook shares. He's accused of soliciting $705,000 for something called the "Social Innovation Fund," promising to use the money to buy Facebook stock and then... not. Instead, the D.A. says, he allegedly used the money "on various expenses – including country club membership fees, car payments, traveling, and ... Read More

Tags: Randos Still Getting Busted for Alleged Dumb Facebook Stock Scams,  Facebook Latest News