North Carolina Man Indicted for Fraud Involving 239M Napster Shares

Charles Cole faces charges for allegedly defrauding Infinite Reality, now Napster, of 239 million shares using fabricated financial records. The SEC filed a parallel civil complaint against Cole, his attorney, and three entities he controlled, accusing them of falsely prom

Charles Cole faces charges for allegedly defrauding Infinite Reality, now Napster, of 239 million shares using fabricated financial records.

The SEC filed a parallel civil complaint against Cole, his attorney, and three entities he controlled, accusing them of falsely promising a $3.36 billion investment in Infinite Reality. No immediate market reaction was reported.

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