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Con man convicted in Facebook stock fraud
The con artist who stole $11 million from investors through the fraudulent sale of pre-IPO Facebook stock was convicted by a California jury on Tuesday. Troy Stratos, 49, was found guilty of four counts of wire fraud and two of money laundering. Stratos told investors he was helping Mexican telecom billionaire Carlos Slim buy a large stake in Mark Zuckerberg’s social network, according to prosecutors. The shares the investors purportedly were buying were left over from the Slim purchase, according to Stratos — who operated the scam under the name Ken Dennis. Stratos claimed the shares were allocated to “Soumaya ... (full story)