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US SPACs’ former CFO pleads guilty to embezzling $5 million to trade crypto

( January 3, 2023, 22:40 GMT | Official Statement) -- MLex Summary: Cooper Morgenthau, the former chief financial officer of two Special Purpose Acquisition Companies, pled guilty to one count of wire fraud for embezzling more than $5 million from the two firms. He used the money to trade equities and options of “meme stocks” and cryptocurrencies, losing almost all that he stole, according to Damian Williams, the US Attorney for the Southern District of New York. Morgenthau, 35, of Florida, agreed as part of his plea to forfeit $5.1 million and pay restitution of $5.1 million.See statement below....

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