Venture capitalist Mike Rothenberg faces retrial on fraud charges

Mike Rothenberg, the enterprise capitalist as soon as described as Silicon Valley’s “social gathering animal,” faces a brand new felony trial after a jury failed to succeed in a verdict final 12 months on prices that he lied to banks about his wealth to get loans and gouged buyers.

Rothenberg is accused of fraudulent conduct and making false statements that federal prosecutors say helped him misappropriate virtually $19 million. 

The decide presiding over the case on Friday set a two-month retrial to begin Oct. 2 on the similar federal courtroom in Oakland, California, the place jurors in November couldn’t attain a unanimous consensus on the fees.

Whether or not prosecutors can win a conviction the second time round might be an early take a look at for Ismail Ramsey, who was sworn in final month as the brand new US legal professional for San Francisco, an workplace that tackles high-profile crime in Silicon Valley and the Bay Space.

Hanni M. Fakhoury, a lawyer for Rothenberg, didn’t instantly reply to an e-mail looking for touch upon the retrial.

Rothenberg was recognized for throwing lavish events, which served as materials for HBO’s present, “Silicon Valley.” In a separate lawsuit, Rothenberg is preventing claims he refused to utterly repay a mortgage of $4.25 million mortgage from Silicon Valley Financial institution. The financial institution’s dad or mum firm filed for Chapter 11 chapter final month after it confronted a financial institution run by depositors and was taken over by regulators.

In 2018, Rothenberg settled allegations by the Securities and Change Fee that he overcharged buyers to fund private tasks.

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