Broadband advisor picked by FCC Chairman Ajit Pai arrested on fraud charges

A broadband advisor selected by Federal Communications Commission Chairman Ajit Pai to run a federal advisory committee was arrested last week on claims she tricked investors into pouring money into a multi-million dollar investment fraud scheme, according to The Wall Street Journal.

The advisor, Elizabeth Pierce, is the former chief executive of Quintillion, an Alaska-based fiber optic cable provider operating out of Anchorage. In her capacity as CEO, Pierce allegedly raised more than $250 million from two New York-based investment companies using forged contracts with other companies guaranteeing hundreds of millions of dollars in future revenue. Pierce resigned from Quintillion in August of last year, and she stepped down from her…

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