August 13, 2015

Posted January 25, 2016

Florida investment advisor Gignesh Movalia pleaded guilty to perpetrating a $9 million investment fraud scheme involving Facebook stock. Specifically, Movalia, who was the founder and manager of OM Global Investment Fund LLC, solicited investments by falsely touting access to pre-IPO shares of Facebook which he then used for and lost in other investments that he concealed from investors. DOJ