Venture Capitalist Con Man Steals $20M, Convicted Of 22 Felony Counts

The venture capital business is based on trust. Investors hand over money to a venture capitalist and trust that person to invest it wisely on their behalf.

Moses Joseph betrayed that trust.

Mr. Joseph, who managed a venture fund and started several companies, was convicted Thursday of 22 felony counts, including theft, securities fraud, forgery and fabricating evidence. A Santa Clara County jury found that Mr. Joseph stole more than $20 million from 13 victims, including US Bank, Wells Fargo Bank, Silicon Valley Bank and Eastman Kodak. He will be sentenced in October and faces up to 28 years in state prison.

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Comments

[Bitsko]

Looks like McCain finally found his next Treasury Secretary.

[JBS]

I can see two things he shoulda' done differently.

First of all, he should have been operating out of Wall Street, instead of Palo Alto.

And if he'd stolen $20 BILLION, instead of $20 million, the Fed would be bailing him out and there wouldn't be any prosecution.

[Chavez08]

Right on the mark!!

[xtown]

Chuck Smith, an attorney with Smith Bentley and Hartnett, who represented Mr. Joseph, said that his client never really intended to defraud anyone.

Say what?

[Heyman]

Mainstream media is WORTHLESS! I'm still waiting for the DOD to show the expenditures of the 2 TRILLION dollars that's missing?!? Cynthia McKinney was the only elected official who asked that question to Rumsfeld. Of course, she NEVER got her answer.
Until MSM can tell us the whole truth? Never again will I believe what the media writes or says.

[gcallaghan]

Only $20 million? No wonder they're locking this small-timer away. He ruins the big crooks' reputations.

[GrainOSand]

That is exactly what I was thinking. For every one they catch they ignore or miss thousands of others.

[JBS]

He'll be out on parole in 6 months, or less, "for good behavior" ... and he'll get to keep the money.

[Chavez08]

Meet the next Fox News business analyst.

[bmickey31]

I don't understand this comment? I assuming you are taking a hit on capilist businessmen. Hmmm the backbone of this country and the reason we have the wealth that we do. Ahha the list of corruption is huge and bad, but it is not because of capilism, but because we cannot regulate.

[Chavez08]

The working/middle-class afforded the wealth to most in this nation but maybe you can't see that because you are behind the oak door counting the money as opposed to doing the work.

The only wealth left in this country was stolen, yes! - STOLEN! -> Bush and his capitalist cronies used working class tax dollars to provide subsidies for monopolies and spending **$$trillions** on illegal wars)

What you are celebrating is nothing even close to noble if it had a magnet, it's global expoitation of labor and rapid concentration of wealth to those who contribute the least. Neoliberalism/Friedmanism/"Free Market-Reaganism"/unchecked Capitalism is nothing short of organized crime less the allure and style.

[TrooAmerican]

The Hamburglar stole 20 million? ina suit like that? wow hes good.