The Securities and Exchange Commission on Tuesday said it issued fraud charges against Cooper Morgenthau after he allegedly stole more than $5 million from a special-purpose acquisition company and from investors in two other SPACs that he incorporated.
The regulator alleged Morgenthau, the former chief financial officer of African Gold Acquisition Corp. , embezzled money from the company. The SEC also alleged he stole funds from another SPAC series called Strategic Metals Acquisition Corp. I and II to pay for his personal expenses and to trade in crypto assets and other securities. Both allegations took place from June 2021 to July 2022, the regulator said.
