Indian-origin man arrested in US for duping people through Ponzi scheme
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According to the release, Kumar Arun Nepalli (56), a resident of Carey area, was arrested on Tuesday after receiving a complaint in connection with an investment fraud scam. According to the release, Nepalli duped at least 12 people using his good relations with the Indian community living in Carey.
An American citizen of Indian origin has been arrested on charges of defrauding the people of the Indian community through a Ponzi scheme in North Carolina state of America. The Attorney’s Office of North Carolina gave this information in a news release. According to the release, Kumar Arun Nepalli (56), a resident of Carey area, was arrested on Tuesday after receiving a complaint in connection with an investment fraud scam. According to the release, Nepalli duped at least 12 people using his good relations with the Indian community living in Carey.
It states that Nepali used to encourage people to invest in the real estate sector by luring them with better returns. “Our investigation shows that Nepali gained the trust of the Indian-American community and then abused that trust,” said Michael C. Sherk, acting special agent in charge of the US Federal Investigation Agency (FBI). Nepali promised to invest their money in property. Instead, he used the money to defraud other people as part of his scheme.” If found guilty of the fraud, Napalli could face up to 20 years in prison.
Disclaimer:IndiaTheNews has not edited this news. This news has been published from PTI-language feed.
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