Indian held in US for $2.4 mn fraud

[Hafizzz]

Indian held in US for $2.4 mn fraud
Indian held in US for $2.4 mn fraud - Indian Express

An Indian businessman was arrested in the US for defrauding investors of about USD 2.4 million and could face up to 20 years in prison.

Janamjot Singh Sodhi, 35 of California was arrested on a warrant issued earlier this week for the investment fraud scheme, US Attorney Benjamin Wagner said.

According to the complaint, Sodhi owned Elite Financial Inc and enticed investors into giving him money for investment opportunities, but used the money instead to pay off previous investors and for his own personal use.

Since 2005, Sodhi's license to sell investments had been revoked and in January 2009, California issued a cease and desist order against him and Elite Financial from selling securities to investors.

It is alleged that Sodhi defrauded investors of USD 2.4 million.

If convicted, Sodhi faces a maximum penalty of 20 years in prison and a USD 250,000 fine.

Glad he is arrested !

 

[DelhiDareDevil]

Haha I just read the thread title and knew it was gonna be made by the troll Hafizz.

I got it spot on.

 

[Urbanized Greyhound]

We are glad too. A fraud and a cheat has been arrested for breaking the law .

Epic fail at rabble rousing Hafizz , though you deserve an award for trying so hard .

" I try so hard , and got so far ,
in the end, it doesn't even matter ..." - Linkin park

 

[Vibs]

Glad he is arrested !

So am I.Thank you for sharing.

 

[RoYaL~GuJJaR]

Glad he is arrested !

And so am I,

Any Fraud person should get arrested despite of his/her Nationality.

 

[crimemaster_gogo]

Glad he is arrested !

glad he wasn't caught for an attempt to blow himself or some place.
.
.kudos to US police

 

[CardSharp]

enticed investors into giving him money for investment opportunities, but used the money instead to pay off previous investors and for his own personal use.

Ponzi scheme sounds like.

 

[OrionHunter]

Glad he is arrested !

Hmmm....What if he were a Pakistani? Would you have been 'glad' then? Your anti India rants are getting sort of tiring.

Have you heard of OCD - Obsessive Compulsive Disorder? Google it!