Founders of poop-test­ing uBio­me, re­port­ed­ly on the run, charged by SEC with de­fraud­ing in­vestors

Fol­low­ing sev­er­al high-pro­file hic­cups a few years ago that in­clud­ed an FBI raid and ul­ti­mate­ly led to a bank­rupt­cy fil­ing, uBio­me saw its founders run in­to more trou­ble Thurs­day: se­cu­ri­ties fraud.

The SEC charged Jes­si­ca Rich­man and Zachary Apte, the co-founders of the poop-test­ing start­up uBio­me, with de­fraud­ing in­vestors out of $60 mil­lion through mis­lead­ing state­ments and false rep­re­sen­ta­tions of the com­pa­ny’s prospects. Ac­cord­ing to the SEC com­plaint, the charges stem from a 2018 Se­ries C round valu­ing the com­pa­ny that once ap­point­ed ex-No­var­tis CEO Joe Jimenez to its board at near­ly $600 mil­lion.

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