$8M Facebook IPO Fraud Lands Ex-Ore. Politician In Cuffs

Law360, New York (March 19, 2013, 8:36 PM EDT) -- A former Oregon candidate for governor was arrested Tuesday and charged with swindling at least $8 million from investors by pretending his private equity fund had access to Facebook Inc. stock ahead of its initial public offering.

Craig L. Berkman, who unsuccessfully ran to be the Republican nominee for governor of Oregon in the 1994 race, was arrested at his home in Odessa, Fla., this morning and charged with four counts of fraud, federal prosecutors said.

Berkman, 71, also served as the chairman of Oregon’s Republican...
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