Business & Economy · 3 views
AI gets its own “boiler room” scandal
“Boiler room raised $74 million selling retirees SpaceX, Anduril, Anthropic, and Perplexity while reaping ‘massive hidden fees,’ SEC clai…
Story Brief
“Boiler room raised $74 million selling retirees SpaceX, Anduril, Anthropic, and Perplexity while reaping ‘massive hidden fees,’ SEC claims,” my colleague Amanda Gerut wrote last week, outlining a case that the SEC has brought against a Long Island-based financial firm it’s calling a pre-IPO “boiler room.” At the center of the SEC’s allegations, The Spaventa Group, run by former broker Andrew Spaventa.
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