Daniel O’Connell, 37, admitted that he took several million dollars from the account of Redwood Venture Partners founder Raj Singh in an effort to recover the loss of $145,000 of his wife’s money.
O’Connell invested the millions in dot-com options in the hope of using the profit to cover the $145,000 before returning Singh’s money to its rightful place. Unfortunately, he invested the money at a time when the NASDAQ 100 was notching a new low, and lost $4.25 million in about a month.
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