Former Real Estate CEO Sentenced to Five Years for WeWork Stock Manipulation Scheme

Jonathan Larmore, a former real estate CEO, has been sentenced to five years in prison following his unsuccessful attempt to manipulate WeWork’s stock price. Larmore had been found guilty of fraud last year, as prosecutors detailed how he devised a fake tender offer to sway the co-working company’s stock. The scheme ultimately failed due to Larmore underestimating the time required to issue a phone press release, causing his short-dated call options to expire before the anticipated stock rally took effect. For further details, read the original article on the New York Law Journal.