Fund Manager Accused Of $11M Securities Fraud

Law360, New York (November 17, 2011, 4:34 PM EST) -- A Florida man was hit Thursday in New York federal court with criminal and civil allegations that he defrauded investors of $11 million by claiming ownership of shares of Facebook Inc. and other companies to lure them to invest with him.

Federal prosecutors accused Fort Lauderdale, Fla., resident John A. Mattera of securities fraud, wire fraud and money laundering in connection with the alleged scheme, while the U.S. Securities and Exchange Commission filed a related emergency enforcement action the same day.

Prosecutors also charged Mattera with...
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