SEC Charges IRL Founder Abraham Shafi with $170 Million Fraud Scheme
The SEC has charged Abraham Shafi, a California entrepreneur and the founder and former CEO of Get Together Inc., a social media start-up known as IRL, with fraud. Shafi, whose company was backed by prominent investors including a16z, Sequoia, and SoftBank, is accused of deceiving investors and misusing funds. The allegations include spending millions on personal expenses such as his wedding, flights, and luxury hotels. At its peak, IRL raised $170 million and was valued at $1 billion.
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AbubakarAbraham Shafi founder of SoftBank-backed app IRL accused of fraud by SEC. He allegedly deceived investors and spent millions of dollars on personal expenses including his wedding, flights and luxury hotels. At its peak, IRL raised $170M and was worth $1B. https://t.co/O4oM2Zo2ow
FT Technology News
Founder of SoftBank-backed app IRL accused of fraud by SEC https://t.co/JYUYkLo1dQ
Financial Times Founder of SoftBank-backed app IRL accused of fraud by SEC https://t.co/DCWtEOJYNy
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