SEC Sues Matthew Brown Over Alleged Fraudulent $200M Offer for Virgin Orbit

Jun 17, 2024, 08:32 PM

The U.S. Securities and Exchange Commission (SEC) has filed a lawsuit against Matthew Brown, a Texas man, for allegedly making a fraudulent $200 million offer to acquire Richard Branson's now-defunct satellite launch services company, Virgin Orbit. The SEC claims that Brown falsely portrayed himself as an experienced venture capitalist with investments in over 13 space companies, including during appearances on CNBC. The alleged bogus bailout attempt, filed on Monday, has significant implications, impacting millions.