Reported 8 months ago
An individual claiming to be a venture capitalist, Matthew Brown, is being sued by the Securities and Exchange Commission for making a false offer of $200 million to acquire Virgin Orbit Holdings Inc. Brown allegedly sent a fabricated screenshot of his company's bank account showing $182 million, when in reality, it had less than $1. Virgin Orbit, facing financial difficulties following a rocket malfunction, had to file for bankruptcy after Brown's offer failed to materialize.
Source: YAHOO