Ex-Jumio CEO Case Shows SEC Is Watching Private Cos.

By Joshua Newville and Brian Hooven (April 23, 2019, 3:29 PM EDT) -- The U.S. Securities and Exchange Commission recently announced a settlement of fraud claims against the founder of Jumio Inc.,[1] a private mobile payments company, for misstating the company's financial results and using those financials to sell his company shares on the secondary market. This case is a reminder that privately negotiated securities transactions and private, VC-funded companies are not exempt from regulatory scrutiny....

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