Group 1 - A New York investment manager has been indicted for allegedly defrauding millions from investors in a pre-IPO scheme related to Anduril Industries, highlighting the risk of fraud as private tech firms grow in prominence and value [1][4] - Giovanni Pennetta, manager of Sestante Capital, was charged with securities fraud, wire fraud, and aggravated identity theft for falsely promising clients access to non-public shares in Anduril, raising millions without actual access to the stock [2][4] - Anduril, valued at $30 billion in a funding round in June, stated that any investment offer not coming directly from the company is likely a scam, emphasizing the need for caution among potential investors [3][4] Group 2 - The case against Pennetta and claims involving AlphaTON illustrate the increasing risk of scams targeting investors as private tech firms like Anduril and SpaceX remain private longer, limiting public scrutiny and transparency [4][6] - The Securities and Exchange Commission has previously charged individuals involved in fraudulent pre-IPO schemes, indicating a broader trend of scams in the private investment space [5] - Experts note that the lack of public oversight in private companies contributes to a higher incidence of fraud and manipulation, as seen in the cases involving Anduril and other tech firms [6]