Yet another former Silicon Valley darling is convicted of investor fraud

autotldr Bot , 8 months ago

This is the best summary I could come up with:

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The verdict, delivered by a jury in Northern California, bookends a 10-year journey for Rothenberg, who burst onto the Bay Area scene in 2013 at age 27 with a $5 million fund and enough charm to persuade TechCrunch that his one-man firm was special enough to merit coverage.

Rothenberg also found increasingly inventive ways to attract widespread attention to his relatively small shop, many of them centered on organizing expensive parties for founders.

Indeed, one of these gatherings — an “annual” event held two years in a row at the ballpark where the San Francisco Giants play — inspired an episode of the HBO show “Silicon Valley.”

It also raised questions, including in a story by Bloomberg that dubbed him “the Valley’s party animal” while also observing that it wasn’t “entirely clear” how Rothenberg was funding it all.

(TechCrunch was later told by sources that after the Bloomberg piece was published, Rothenberg sent two employees to SFO, purchasing them airline tickets so they could buy up its newsstand copies and keep them out of view.)

In 2018, he was formerly charged by the SEC for overcharging investors to fund personal projects; Rothenberg settled in 2019 with the agency, which sought tens of millions of dollars in disgorgement penalties (these were later backed up by a federal court ruling).

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