•   
  •   
  •   

Crime Former Silicon Valley venture fund manager hit with federal fraud charges

09:30  28 june  2020
09:30  28 june  2020 Source:   sfchronicle.com

Memorial held for federal officer shot at US courthouse

  Memorial held for federal officer shot at US courthouse PINOLE, Calif. (AP) — Family and friends mourning a federal law enforcement officer who was fatally shot while guarding a U.S. courthouse in Oakland voiced poignant pleas Friday for an end to the violence that cut short his life, saying America needs to overcome discrimination and hatred. David Patrick Underwood, 53, was remembered as a soft-spoken and gifted natural athlete, a lefty pitcher in high school who was valiant on the mound and graceful on the basketball court.In life and in work, he was confident but never arrogant, friends and family said in moving tributes.

— —SEC lawsuit against Silicon Valley venture capitalist Michael Rothenberg. As part of the The current charges were in civil court only; the SEC does not handle criminal charges . Prospectuses for the Rothenberg funds , the SEC reveals, told clients that total fund management fees, capitalized as

Emerging Manager Practice. Just because you’re a trailblazer doesn’t mean you have to be a lone Our Emerging Manager Practice provides a robust solution tailored to the unique needs of emerging venture firms Silicon Valley Bank is a great example of an institution giving back before they get.

A tech venture capitalist’s financial troubles spilled over into federal criminal court Friday with the unsealing of felony fraud charges against the founder of Rothenberg Ventures Management Company, Michael Rothenberg.

a person holding a baseball bat: Staffers at Rothenberg Ventures — which focused on virtual reality — pose in headsets in 2015. Firm founder Michael Rothenberg — not the staffers — faces federal felony fraud charge. © Lea Suzuki / The Chronicle 2015

Staffers at Rothenberg Ventures — which focused on virtual reality — pose in headsets in 2015. Firm founder Michael Rothenberg — not the staffers — faces federal felony fraud charge.

Prosecutors charged Rothenberg, 36, of San Francisco with 23 fraud offenses, alleging he set out to mislead investors and banks, illegally using their cash for his personal gain.

iOS 14 picture-in-picture video for iPhone: How it works and how it might top Android

  iOS 14 picture-in-picture video for iPhone: How it works and how it might top Android Apple's take on an Android staple comes with a few surprises. Here's how it'll work on the iPhone and why you'll want to use it.You can keep a FaceTime conversation going in iOS 14 while looking at your schedule, or any other iPhone screen.

Silicon Valley 150. Salary Survey. Venture Capital Funding . He is awaiting a court appearance in Texas on charges of securities fraud and wire fraud . Authorities say Shavers has already been ordered by a federal court in Texas to give up more than million and pay a 0,000 penalty in a

Prior to joining Silicon Valley Bank, Alex was Investment Manager at venture capital fund TTP Ventures , where he invested in and managed a As Managing Director, Alex raised several rounds of venture capital funding and helped TISS to grow and achieve global sales to logistics companies

If convicted, Rothenberg could face decades in prison. He did not respond to an emailed request for comment.

Rothenberg raised four annual funds between 2013 and 2016 to invest in Silicon Valley start-ups, with an eye on the virtual reality industry in particular, according to a statement from the U.S. Attorney’s Office in San Francisco.

Beginning in 2013, Rothenberg defrauded investors and banks of $18.8 according to federal prosecutors.

The charges are the criminal side of a U.S. Securities and Exchange Commission investigation that culminated in December when a federal judge ordered Rothenberg to pay back the $18.8 million with $3.6 million in interest plus a $9 million civil penalty.

Red Sox CEO says there's a 'possibility' team could have fans at games

  Red Sox CEO says there's a 'possibility' team could have fans at games Red Sox CEO Sam Kennedy told reporters on Wednesday that fans at Fenway Park this season could be a “possibility” if the cases of COVID-19 in Massachusetts continue to decline. Kennedy says fans at Fenway in Phase 3 of reopening could be a “possibility” based on Massachusetts data on decline in COVID-19 cases. “We are hopeful to have fans at some point.” Says some MLB clubs anticipate fans this year. — Alex Speier (@alexspeier) June 24, 2020 Several other MLB teams are reportedly hoping to have fans at games this season.

San Francisco — Renaud Laplanche, a leading figure in Silicon Valley ’s effort to challenge the financial industry, reached a The Securities and Exchange Commission charged Mr. Laplanche, the founder and former chief executive of the start-up LendingClub, with improperly changing some of the

The former hedge fund executive faces charges related to investing activities in Africa. Michael Cohen, formerly the head of European operations for Och Ziff Capital Management , was indicted on fraud and conspiracy, among other charges , in the scheme, according to the document, filed in

He had previously agreed in 2018 to be barred from the securities industry for five years as part of the negotiations with the SEC; he neither admitted nor denied that he had violated securities laws.

According to the SEC, Rothenberg used money from the funds he raised to run personal business ventures he claimed were self-funded, as well as to pay for lavish private parties and events including, leasing a private suite at Golden State Warriors games.

Rothenberg used a variety of methods to siphon off millions, according to the criminal complaint.

In 2014, he lied about his wealth to his bank while refinancing his home mortgage, the government said, obtaining a $300,000 personal loan and diverting some of the moneyinto one of his venture funds.

The next year, the government said, Rothenberg pulled in fees for the management of his funds over and above what he was owed by investors, making up the difference at the end of the year by wrangling a fraudulent bank loan of $4 million.

Amazon sets up billions of funds for the climate promise

 Amazon sets up billions of funds for the climate promise The online giant Amazon is opening a multi-billion dollar venture capital fund to fight climate change with investments in sustainable companies. © Provided by Finanz.net GmbH Peter Bischoff / Getty Images • Amazon opens 2 billion fund • Companies from different industries come into question • Both startups and established companies can receive investments The climate promise fund The Worldwide online retailer Amazon recently announced the opening of a $ 2 billion fund to combat climate change.

Six former employees were recently named in federal charges that were an indication of the lengths some companies will go to hit back at detractors. Silicon Valley companies have stacked what they often call their “trust and safety” teams with former police officers and national intelligence analysts.

At Silicon Valley Bank, we support the businesses that invent the future. Our Founder Success team is made of former founders and investors, along with expert bankers. For additional terms and conditions, please refer to Silicon Valley Bank’s Deposit Agreement and Disclosure Statement.

In 2016 Rothenberg convinced an investor to hand over $2 million to invest in a virtual reality company called River Studios he said he owned, but he used the money for other ventures, according to the charges. Later that year, Rothenberg convinced five investors to wire him $1.3 million to invest in the untraded stock of a privately owned software company but he instead funneled the money into his venture fund’s accounts, according to the federal court filing.

Rothenberg has been involved in other lawsuits in the past. Former Rothenberg Ventures executives have also brought suit against Rothenberg previously, alleging he did not cover business expenses.

The company’s one time chief financial officer David Haase won his case in 2017 in San Francisco Superior Court in a judgment that required Rothenberg to pay him $166,000 for the expenses and losses he incurred while working at RVMC, as well as attorney fees for the suit, and other costs.

Michael Rothenberg’s name is not on the latest state registration documents for Rothenberg Ventures.

Chase DiFeliciantonio is a San Francisco Chronicle staff writer. Email: chase.difeliciantonio@sfchronicle.com Twitter: @ChaseDiFelice

How 'Zoey's Extraordinary Playlist,' 'Silicon Valley' and 'Devs' Create "Emotional Payload" Within a Complex Tech World .
Writers on three very different shows reveal how they portray the industry's culture and conflicts.From Alex Garland's futuristic sci-fi drama Devs to Austin Winsberg's musical comedy Zoey's Extraordinary Playlist and Alec Berg's quirky Silicon Valley, each series explores the complex, and often mysterious, world of tech in very different ways.

usr: 3
This is interesting!