Email a friend "SEC Charges New York-Based Fraudster Who Spent Investor Funds on Drugs and Gambling"

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SEC Charges New York-Based Fraudster Who Spent Investor Funds on Drugs and Gambling

The SEC alleges that Stephen A. Colangelo, Jr. repeatedly misled investors while raising $3m in investments for four start-up companies that he created. He also persuaded three other investors to let him act as their investment adviser and they gave him more than $1m to invest in the markets on their behalf.

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SEC Charges New York-Based Fraudster Who Spent Investor Funds on Drugs and Gambling