The Wall Street Journal: SEC charges former SPAC CFO Cooper Morgenthau with fraud

by | Jan 3, 2023 | Stock Market

The Securities and Exchange Commission on Tuesday said it issued fraud charges against Cooper Morgenthau after he allegedly stole more than $5 million from a special-purpose acquisition company and from investors in two other SPACs that he incorporated. The regulator alleged Morgenthau, the former chief financial officer of African Gold Acquisition Corp. , embezzled money from the company. The SEC also alleged he stole funds from another SPAC series called Strategic Metals Acquisition Corp. I and II to pay for his personal expenses and to trade in crypto assets and other securities. Both allegations took place from June 2021 to July 2022, the regulator said.

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