Fake Goldman Insider Gets 16 Years for Alibaba IPO Share Scam

August 2024 · 1 minute read

An “expert conman” who told investors a Goldman Sachs Group Inc. connection could get them in on Alibaba Group Holding’s 2014 initial public offering was ordered to spend nearly 16 years in prison.

Frank Harold Rosenthal was sentenced Thursday to 188 months in prison by US District Judge Fernando L. Aenlle-Rocha in Los Angeles. That was substantially more than the roughly 10 years sought by prosecutors and several times the 21-month sentence suggested by Rosenthal himself. Rosenthal was also ordered to pay more than $1.1 million in restitution.

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