A former chief financial officer of several special purpose acquisition companies (SPACs) has pleaded guilty to stealing over $5 million from them and losing nearly all of it trading meme stocks and cryptocurrencies. Cooper Morgenthau, 35, of Fernandina Beach, Florida, pleaded guilty to one count of wire fraud in Manhattan federal court on Tuesday before U.S. District Judge Paul Engelmayer. Morgenthau faces a possible prison sentence of six to seven and a half years under recommended federal guidelines at his April 25 sentencing. He also agreed to forfeit $5.11 million and pay an equal amount in restitution, as well as settle related civil charges brought by the Securities and Exchange Commission in the United States.
