Indian-origin man committed major fraud in America, duped 10,000 people of 4.5 crores, arrested from Las Vegas

Indian-origin man arrested in America

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In America, a person of Indian origin has defrauded 10,000 people of 4.5 crores. This person has been arrested from Las Vegas. This case is related to a fake investment scheme.

Indian-origin tech entrepreneur Neil Chandran in $45 million fraud case America ,Indian Origin Man Arrested in US) has been arrested. This case is allegedly related to an investment scheme, through which more than 10,000 people have been duped. The Justice Department said that 50-year-old Chandran, a resident of Las Vegas, Naveda, was arrested on Wednesday. According to the indictment, Chandran (Neil Chandran) owned a group of technology companies, which they used to defraud investors.

They have made false promises of getting higher returns to the people. He told the people that one or more of his companies are going to be operated under the banner of ViRSE. Which will be acquired by a consortium of wealthy buyers. Neil Chandran’s companies include Free V Lab, Studio V Inc., We Delivery Inc., WeMarket Inc. and Scales USA Inc., among many others. He also has another company Virtual-World Technologies. They even have their own cryptocurrency. Which is used in the company’s own metaverse.

High returns promised

In the indictment, Chandran has been accused of telling people to do false and misleading things. He said that when one or two of his companies are bought by Amir Group, the investors of his companies will soon get higher returns. But there is no such buyer group, which is going to buy their company. Or getting any kind of return. Whatever fund was collected by duping people, it has been wrongly used in other business and for personal gain of others including Chandran.

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The accused have bought expensive vehicles and property with this money. Chandran has been charged with three counts of fraud and two counts of involvement in monetary transactions in criminally acquired assets. If convicted, Chandran could face up to 20 years in prison for each offense and up to 10 years in each case of engaging in unlawful monetary transactions. The indictment states that 100 different properties have been seized as fraudulent proceeds. That includes bank accounts, real estate and luxury vehicles including 39 Tesla vehicles.