Monday, April 2, 2018

Mozido's Founder Charged By SEC With Fraud

Michael Liberty, the founder of fintech startup Mozido, has been charged by the SEC with stealing more than $48M from investors, which the SEC alleges were used to fund a lavish lifestyle, including "private jet flights, multi-million dollar residences, expensive cars, and movie production ventures." According to the SEC, the complain named Libery, plus his wife Brittany Liberty, his attorney George Marcus, his cousin Richard Liberty, and his cousin's friend Paul Hess with the scheme. The SEC said it has charged the defendants with violating the antifraud and registration provisions of the federal securities laws.