SPCE - Virgin Orbit Fake Offer: SEC Sues Texas Man For $20M Bid | Benzinga
The U.S. Securities and Exchange Commission (SEC) sued Matthew Brown, a Texas man, for allegedly making a fraudulent $200 million offer to save the now-defunct satellite launch company Virgin Orbit Holdings, Inc. (NASDAQ:VORBQ), previously owned by billionaire Richard Branson.
According to the SEC, Brown falsely claimed to be an experienced venture capitalist with investments in more than 13 space companies and fabricated a bank statement to support his bid.
The SEC’s complaint, filed in Fort Worth, Texas, federal court, accused Brown of presenting a doctored screenshot showing his company’s bank account holding $182.4 ...