WeWork Stock Case Spurs US Charges Over $77 Million Tender (1)

A strip mall mogul accused of running a botched scheme to manipulate the price of WeWork Inc. shares was arrested on fraud charges over what prosecutors called a phony $77 million tender offer.

Jonathan M. Larmore, of Punta Gorda, Florida, was taken into custody Thursday morning and was scheduled to appear before a magistrate judge in Fort Myers in the afternoon. He announced the fake offer late last year, shortly before the co-working company filed for bankruptcy, to manipulate its stock price, according to a statement by Manhattan US Attorney Damian Williams.

News of the offer led investors to ...