Indian-Origin Man Arrested In US For Alleged $45 Million Fraud

Friday, 1 July 2022newsdesk

A 50-year-old Indian-origin tech entrepreneur has been arrested in the US for an alleged investment scheme that defrauded more than 10,000 victims of over $45 million and netted him several luxury cars and real estate.

New Delhi, 01 July 2022

As per news report of NDTV, Neil Chandran, of Las Vegas in Nevada, was arrested on Wednesday in Los Angeles, the Department of Justice said. According to the indictment, Mr Chandran owned a group of technology companies that he used in a scheme to defraud investors by falsely promising extremely high returns on the premise that one or more of his companies, operated under the banner of "ViRSE," was about to be acquired by a consortium of wealthy buyers.

Source -NDTV