Fake Goldman Insider Gets 16 Years for Alibaba IPO Share Scam

One victim, a retired businessman and full-time carer for his wife, invested with Rosenthal to avoid personal bankruptcy, prosecutors said. On top of the money he invested in the Alibaba IPO scam, the victim also gave Rosenthal more than $1.2 million for a cannabis dispensary venture. Altogether, the victim lost $2.8 million to Rosenthal.

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