SEC Says Startup Founder Siphoned $10.8M In Investor Funds

By Emilie Ruscoe (May 8, 2024, 7:17 PM EDT) -- The U.S. Securities and Exchange Commission has filed suit against the CEO of a chemical coatings startup, alleging that over roughly four years, the executive "siphoned off" $10.8 million, or roughly a third of the $32.5 million his company raised from investors and spent it on extravagances including a private jet....

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