SEC Charges Former Oregon GOP Candidate with Fraudulently Selling Fake Facebook Shares

On March 19, 2013, the SEC charged Craig Berkman, a former Oregon gubernatorial candidate, with defrauding investors by promising them access to pre-IPO shares of Facebook and other social-media companies. The SEC alleged that Berkman touted to investors that he had special access to scarce sources of pre-IPO stock in Facebook, LinkedIn, Groupon, and Zynga.…