Florida Man Arrested For $77 Million Tender Offer Fraud | United States Department of Justice

Damian Williams, the United States Attorney for the Southern District of New York, and James Smith, the Assistant Director in Charge of the New York Field Office of the Federal Bureau of Investigation (“FBI”), announced today the unsealing of an Indictment charging JONATHAN MOYNAHAN LARMORE with tender offer fraud and securities fraud in connection with LARMORE’s announcement of a fake tender offer to manipulate the stock price of WeWork, Inc. (“WeWork”).  LARMORE is alleged to have announced a false $77 million tender offer for WeWork stock, news of which immediately led investors to buy WeWork stock at fraudulently inflated prices during after-hours trading, in an effort to drive up the value of his WeWork call options and shares.  LARMORE was arrested this morning and will be presented in federal court later today in the Middle District of Florida.  The case is assigned to U.S. District Judge Paul A. Engelmayer.

Source: Florida Man Arrested For $77 Million Tender Offer Fraud | United States Department of Justice