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Home » Former Malibu Resident sentenced to more than 15 years in prison for conning investors with bogus promises of discounted Alibaba IPO shares

Former Malibu Resident sentenced to more than 15 years in prison for conning investors with bogus promises of discounted Alibaba IPO shares

Date: November 9, 2023 Contact: newsroom@ci.irs.gov LOS ANGELES — A former Malibu resident was sentenced today to 188 months in federal prison for defrauding several individuals out of more than $3 million with bogus claims that he had access to stock shares of Alibaba prior to its initial public offering.

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