This was a headline I’d been waiting to see. “Boiler room raised $74 million selling retirees SpaceX, Anduril, Anthropic, and Perplexity while reaping ‘massive hidden fees,’ SEC claims,” my colleague Amanda Gerut wrote last week, outlining a case that the SEC has brought against a Long Island-based financial firm it’s calling a pre-IPO “boiler room.”
A sales force of more than 100 agents allegedly cold-called thousands of prospective investors with sleek, scripted pitches for shares in the most exclusive private tech companies in the world, including SpaceX, Anduril, Anthropic, and Perplexity, while promising repeatedly there would be no hidden fees. The agents worked for The Spaventa Group (TSG), a Long
