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WASHINGTON, DC (BocaNewsNow.com) — Boca Raton Private Equity firm Chairman John A. Mattera — who runs “The Mattera Fund” has been accused by the Securities and Exchange Commission of trying to take advantage of investors hoping to get in on the ground level of the IPO’s of Facebook, Groupon, and others.
According to the SEC, Mattera created “The Praetorian Global Fund,” and “falsely claimed that the fund and affiliated Praetorian entities owned shares worth tens of millions of dollars in privately held companies that were expected to soon hold an initial public offering (IPO) including Facebook, Groupon, and others.”
The SEC says, “Taking advantage of investor interest in pre-IPO shares that are virtually impossible for company outsiders to obtain, Mattera and others solicited funds and gave investors a falls sense of comfort that their money was protected by telling them than an escrow service was receiving their funds.”
Read the official press release from the SEC by clicking here.
Read the SEC Complaint by clicking here.
No immediate response from Materra.
A records check shows that he was arrested in 2008 and charged with assault an officer and resisting arrest.