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Federal prosecutors have filed fraud charges against Jonathan Mills, the founder of the San Francisco technology company Motionloft, for getting his doctor to deposit $210,000 into his account by telling the doctor that investing in Motionloft would result in a huge return because Cisco was buying Motionloft for $760 million, SF Gate reports.

There is no evidence that Cisco had ever attempted or planned to acquire the company. Dallas Mavericks owner Mark Cuban is Motionloft’s principal investor.

Read the full article from SF Gate.

 

Last modified on Sunday, 23 February 2014
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