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Alleged Fraudsters Who Nearly Settled For $15 Million Now Begging To Explain Why They Should Not Be Indicted



At first, the allegations against “boutique private equity firm” StraightPath Venture Partners sounded very serious, indeed. There was an alleged $73 million in investor cash pocketed. There were allegedly millions more in Ponzi scheme payments. And, finally, there were allegedly none of the once highly-coveted pre-IPO shares that StraightPath was selling.

Then, it seemed all of that may have been a bit of puffery from the Securities and Exchange Commission, which all of a sudden seemed content to settle for about $15 million. Since then, however, things sound terribly serious once again, including from the mouths of the defendants themselves, and even more so from the court-appointed receiver attempting to sort through the mess. Especially now that the Justice Department has asked everyone else to stand aside and let it handle things.



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