Private Shares

SecondMarket Warns of Facebook Stock Scams

scam artist SecondMarket Warns of Facebook Stock ScamsPrivate share powerhouse SecondMarket sent out an email to members today warning about the growing threat of IPO scams for well known startups.

Bogus offers have been surfacing for Twitter, Groupon and Facebook, which is far and away the most sought after property on SecondMarket.

As Dan Primack over at Fortune notes, the SEC doesn’t make a clear distinction between the fraudsters and legit buyers on the secondary market.

In fact, eager investors can actually find a ton of Facebook stock for sale, on Facebook! Options include a private placement or simply wiring the money over Paypal.

Listen up people, if you are going to overpay for private shares of an overvalued tech company, you have to be worth at least $1 million and pay fees to registered broker dealers.

 

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