With DOJ Expenses, Former VC Mike Rothenberg Might Now Be Dealing with Critical Jail Time



Connie Loizos writing through TechCrunch: Whereas some in Silicon Valley may choose to neglect about investor Mike Rothenberg roughly 4 years after his younger enterprise agency started to implode, his story remains to be being written, and the newest chapter would not bode nicely for the 36-year-old. Whereas Rothenberg earlier tangled with the Securities and Change Fee and misplaced, it was a civil matter, if one that might hang-out him for the remainder of his life. Now, the U.S. Division of Justice has introduced two prison wire fraud prices towards him, prices that he made two false statements to a financial institution and cash laundering prices, all of which may lead to a really very long time in jail relying on how issues play out.

How lengthy, precisely? The DOJ says the the 2 financial institution fraud prices and the 2 false statements to a financial institution prices “every carry a most of 30 years in jail, no more than 5 years supervised launch, and a $1,000,000 superb,” whereas the cash laundering prices “carry a penalty of imprisonment of no more than ten years, no more than three years of supervised launch, and a superb of no more than twice the quantity of the criminally derived property concerned within the transaction at concern.” The harm executed within the transient lifetime of Rothenberg’s enterprise outfit — even whereas understood in broad strokes by business watchers — is slightly breathtaking. As laid out by the DOJ, Rothenberg raised and managed 4 funds from the time he based his agency, Rothenberg Ventures, in 2012, by way of 2016, and his prison actions started nearly instantly…

Learn extra of this story at Slashdot.