Ore. Pol Pleads Guilty To $13M Facebook Fraud

Law360, New York (June 25, 2013, 7:06 PM EDT) -- A former Oregon candidate for governor pled guilty Tuesday to swindling more than $13 million from investors by pretending he had access to stock in Facebook Inc. and other technology companies ahead of their initial public offerings.

Craig L. Berkman, who unsuccessfully ran for the Republican gubernatorial nomination in Oregon’s 1994 race, copped to one count of securities fraud and one count of wire fraud. He entered his plea before U.S. Magistrate Judge Kevin Nathaniel Fox in Manhattan federal court.

Berkman admitted that he gained access...
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