Investment Manager Charged with $30M Anduril Pre-IPO Fraud Scheme

Investment manager Giovanni Pennetta has been indicted on charges of securities fraud, wire fraud, and aggravated identity theft, according to a Reuters report. The charges stem from an alleged pre-IPO scheme involving Anduril Industries, where prosecutors claim Pennetta defrauded investors of millions by falsely promising access to the drone manufacturer's non-public shares. Anduril, recently valued at $30 billion in a June funding round, declined to comment on the specifics of the case. However, a company spokesperson directed Reuters to a publicly available memo on its website, cautioning potential investors that offers not originating directly from or through Anduril are "very likely a scam." This case underscores the escalating risk of fraud associated with high-profile private technology companies. The article references a separate incident involving Anduril's founder, Palmer Luckey, who accused crypto firm AlphaTON of falsely announcing a $30 million investment in Anduril. AlphaTON subsequently stated that the investment had been cancelled.