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Former Oregon politician pleads guilty to Facebook IPO fraud

By Bernard Vaughan NEW YORK (Reuters) - Former Oregon gubernatorial candidate Craig Berkman pleaded guilty on Tuesday to defrauding investors by persuading them he could use their money to buy shares of Facebook Inc before the company's May 2012 initial public offering. Berkman, a Republican who ran for governor in 1994, admitted he told investors he had access to scarce pre-IPO shares of Facebook as well as LinkedIn Corp, Groupon Inc and Zynga Inc.

Ex-Oregon governor candidate charged in Facebook IPO fraud

By Bernard Vaughan NEW YORK (Reuters) - A former Oregon gubernatorial candidate was arrested on Tuesday for his alleged role in defrauding investors who had hoped to buy shares of Facebook Inc before its initial public offering in May 2012, federal authorities said. Craig Berkman, 71, falsely told investors he had access to scarce pre-IPO shares of Facebook and other social media companies such as LinkedIn Corp, Groupon Inc and Zynga Inc, the U.S. Securities and Exchange Commission said in a statement.
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