SEC Accuses Boiler Room of Raising $74 Million in Pre-IPO Stock Fraud

The SEC alleges a New York financier raised $74 million from retirees selling shares in private tech giants like SpaceX and Anthropic while taking massive hidden fees.

• Andrew Spaventa denied SEC allegations of a $74 million retiree-targeted boiler room scam
• The scheme involved selling shares in SpaceX, Anduril, Anthropic, and Perplexity with massive hidden fees