Investors thought they were buying pre-IPO OpenAI and SpaceX shares. Their cash went to strip clubs, Bloomingdale’s, and shopping on Amazon, SEC alleges

One fund manager allegedly paid his 4 a.m. strip club bill from fund capital after his card was declined.

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2026-10-01 00:12 · Fortune AI
Investors thought they were buying pre-IPO OpenAI and SpaceX shares. Their cash went to strip clubs, Bloomingdale’s, and shopping on Amazon, SEC alleges

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