The SEC has charged Mike Rothenberg with fraud [TechCrunch Blog]
SVB Financial Group (SIVB)
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Source: TechCrunch Blog
Mike Rothenberg, infamous Silicon Valley venture capitalist and founder of Rothenberg Ventures, has been formally charged by the Securities and Exchange Commission for overcharging investors to fund personal projects. It’s important to note a formal charge is not proof of guilt and Rothenberg has not made any admission of guilt under these proceedings. However, Rothenberg has been under investigation by the SEC for the last several years. The SEC now alleges in a statement the investor and his firm had misappropriated up to $7 million dollars for personal enjoyment, meanwhile claiming the funds were from his own coffers to pay for lavish parties, hotels and sporting events. Rothenberg has settled the charges with the SEC and tells TechCrunch through a statement from his communications team that he is stepping down. “Mr. Rothenberg takes great pride in the portfolio of innovative start-up companies he has selected for investors. But he has determined
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