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SEC Announces Charges in SPAC Fraud Caper, Warns of SPAC Risks The Securities and Exchange Commission (SEC) has charged a group of people and companies for misleading claims about a recent special purpose acquisition corporation (SPAC), assertions which stood to gain one CEO $200 million in shares. Facing charges are SPAC Brian Kabot, the SPAC’s proposed merger target Momentus, and Momentus’s founder and former CEO Mikhail Kokorich. All but Kokorich are in the process of settling for total fines north of $8 million for their roles in misleading claims about Momentus’s technology and about national security risks associated with Kokorich. They will also reportedly agree to tailored investor protection undertakings and the SPAC sponsor’s forfeiture of founder’s shares it stands to receive if the merger, currently scheduled for August 2021, is approved. The SEC has filed a complaint in the U.S. District Court for the District of Columbia against Kokorich. 

District of columbiaUnited statesBrian kabotGary genslerMikhail kokorichExchange commissionAcquisition companyDivision of enforcementUs district courtRoad acquisition companyStable roadமாவட்டம் ஆஃப் கொலம்பியாஒன்றுபட்டது மாநிலங்களில்பிரையன் கபோட்பரிமாற்றம் தரகுகையகப்படுத்தல் நிறுவனம்