Microsoft co-founder to open investment office in Silicon Valley
News from Reuters:

Paul Allen, Microsoft co-founder and the world’s fourth richest man according to Forbes Magazine, speaks to the media after he announced plans to build a $ 20 million science fiction museum adjacent to his Experience Music Project, in Seattle, Washington, April 17, 2003.

Credit: Reuters/Anthony P. Bolante

SEATTLE | Mon Apr 1, 2013 7:08pm EDT

SEATTLE (Reuters) – Paul Allen, the billionaire co-founder of Microsoft Corp, is opening an office in Silicon Valley to make new investments in emerging technology and internet companies.

The Palo Alto office, set to open in the next few weeks, will operate under the name of Vulcan Capital, the investment arm of Allen’s Seattle-based Vulcan Inc, which manages his personal fortune, valued at about $ 15 billion.

Allen, 60, co-founded the world’s largest software company with Bill Gates in 1975, but left in 1983 after a bout with cancer. Th…………… continues on Reuters

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Director of Walnut Creek investment firm arrested on suspicion of defrauding …
News from San Jose Mercury News:

OAKLAND — The managing director of a Walnut Creek investment firm was arrested Thursday on charges that he was defrauding his company’s lenders, prosecutors said Monday.

Stephen B. Lopez, 57, of Lafayette, was charged with mail fraud, wire fraud and money laundering after he reportedly misrepresented his firm’s ownership interests in various companies, properties and oil wells and used the fraudulent profits to pay off personal debt, according to Melinda Haag, U.S. Attorney for the Northern District of California.

Lopez solicited loans on behalf of Lighthorse Ventures LLC, a Walnut Creek-based private equity investment company for which he was managing director, Haag said. Lopez promised a return of 10 to 12 percent per year, and overvalued and misrepresented the entities owned by Lighthorse, she added.

Lopez did not tell prospective lenders that he had failed to return the principal and interest to the majority of his lenders, and that he would soon be required to make a final payment of $ 600,000 to Lonestar Trust as a result of a civil settlement agreement with his former clients, Haag said. The indictment also alleged that he used money paid to Lighthorse to pay a personal debt of $ 600,000 owed to clients, and to make a $ 50,000 payment to a consultant.

Lopez appeared Friday before a magistrate judge in…………… continues on San Jose Mercury News

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