Friday, December 5, 2008

S.E.C. Charges a Venture Capitalist With Fraud

Is there a classified ad out there that I'm not reading?

"Newbie investor seeks large amounts of funds from people who should know better. "

Today's example comes from Silicon Valley where a former capitalist used money from investors to buy a multi-million dollar stake in a hockey team. Really. I can't make this stuff up.


Federal authorities accused William Del Biaggio III, 41, a former Silicon Valley venture capitalist and part owner of the Nashville Predators hockey team, of defrauding investors and using the money to buy his $25 million stake in the professional sports team.

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