Fraudulent Pre-IPO Stock

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Fraudster, Shamoon Rafiq, pleaded guilty to conspiracy to commit securities and wire fraud after a scheme to sell fake pre-IPO equity in Airbnb.

Questions:

  1. Who did Rafiq claim to be?
  2. What amount of money was swindled from investors?
  3. What companies were included in the stock Rafiq was pitching to investors?

Source:

Goswami, R. (2024). Fraudster who peddled fake pre-IPO Airbnb stock falsely claimed to represent Egypt’s Mansour family. CNBC.com, Feb. 27 (Retrievable online at https://www.cnbc.com/2024/02/27/fraudster-impersonated-mansour-family-to-peddle-fake-airbnb-equity.html)