{"id":35816,"date":"2015-05-08T06:01:22","date_gmt":"2015-05-08T10:01:22","guid":{"rendered":"https:\/\/cablemanpro.com\/wallstreetpr\/?p=35816"},"modified":"2015-05-08T06:01:22","modified_gmt":"2015-05-08T10:01:22","slug":"how-a-con-man-rakes-in-millions-selling-fake-shares-of-facebook-inc-nasdaqfb","status":"publish","type":"post","link":"https:\/\/cablemanpro.com\/wallstreetpr\/how-a-con-man-rakes-in-millions-selling-fake-shares-of-facebook-inc-nasdaqfb-35816","title":{"rendered":"How A Con Man Rakes in Millions Selling Fake Shares Of Facebook Inc (NASDAQ:FB)?"},"content":{"rendered":"<p style=\"text-align: justify;\">The reality of selling fake shares of <strong>Facebook Inc (NASDAQ:FB)<\/strong> to rake in millions shows the power of influence and money in the Silicon Valley. According to the authorities investigating the fraud, Troy Stratos posed himself as Kenn Dennis. He has collected $7 million from Nicole Murphy, the ex-wife of Eddie Murphy, the comedian through the fake shares deal.<\/p>\n<p style=\"text-align: justify;\">It all started with an introductory email sent from Divesh Makan to the Facebook CEO David Ebersman in 2010. Makan advises clients of <strong>Morgan Stanley (NYSE:MS)<\/strong> in financial matters.<\/p>\n<p style=\"text-align: justify;\">The introductory email inched a step closer to steal funds amounting to $11.25 million from an East Coast Millionaires Group. The later was trying to grab Facebook shares from the gray market.<\/p>\n<p style=\"text-align: justify;\">The U.S. Department of Justice is likely to indict Troy Stratos for cheating Nicole Murphy with a fake deal.<\/p>\n<p style=\"text-align: justify;\">However, the accused has appealed that he is innocent in the fraud. The accused was in jail since 2011 following the arrest by FBI from his Los Angeles apartment. According Troy, he had just introduced Tim Burns, a financial manager of the investors, to the executive at Facebook and others, who said had shares to offload.<\/p>\n<p style=\"text-align: justify;\">According to the bail plea, in January 2012, Troy has not delivered the shares to Nicole.<\/p>\n<p style=\"text-align: justify;\">Troy said he assumed the money as a fee. He used the money to clear old dues and to buy a Range Rover apart from establishing a restaurant and others.<\/p>\n<p style=\"text-align: justify;\">Nicole and Troy were close friends in Sacramento based high school. Troy promised her to help in managing the money she got following the divorce with Eddie.<\/p>\n<p style=\"text-align: justify;\">As per the agreed terms, Stratos was supposed to invest in Dubai to fetch higher interest. However, subverting the talk, he spent the money for his personal use.<\/p>\n<p style=\"text-align: justify;\">The investors were trying to gain millions of employee\u2019s shares of the private company \u2013 Facebook in 2011. Intense propaganda in the medium also helped to violate the rules.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The reality of selling fake shares of Facebook Inc (NASDAQ:FB) to rake in millions shows the power of influence and money in the Silicon Valley. [&hellip;]<\/p>\n","protected":false},"author":32,"featured_media":13286,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"rop_custom_images_group":[],"rop_custom_messages_group":[],"rop_publish_now":"initial","rop_publish_now_accounts":{"twitter_2902945987_2902945987":""},"rop_publish_now_history":[],"rop_publish_now_status":"pending","footnotes":""},"categories":[263],"tags":[11426,1747,1877,813,1431],"stock_ticker":[],"class_list":["post-35816","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-technology","tag-david-ebersman","tag-facebook-inc-nasdaqfb","tag-morgan-stanley-nysems","tag-nasdaqfb","tag-nysems","entry"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.9 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>How A Con Man Rakes in Millions Selling Fake Shares Of Facebook Inc (NASDAQ:FB)? - Wall Street PR<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cablemanpro.com\/wallstreetpr\/how-a-con-man-rakes-in-millions-selling-fake-shares-of-facebook-inc-nasdaqfb-35816\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"How A Con Man Rakes in Millions Selling Fake Shares Of Facebook Inc (NASDAQ:FB)? - Wall Street PR\" \/>\n<meta property=\"og:description\" content=\"The reality of selling fake shares of Facebook Inc (NASDAQ:FB) to rake in millions shows the power of influence and money in the Silicon Valley. 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