Cary Man Sentenced to Prison in Ponzi Scheme

[csrcsr]

https://www.justice.gov/usao-ednc/pr/cary-man-sentenced-prison-ponzi-scheme

 

The investigation revealed Neppalli relied on his good standing within the Indian American community in Cary to defraud numerous victims under the false pretense that he would invest their money in a legitimate real estate development in the Orange County area.  Neppalli leveraged his employment with the town of Chapel Hill to convince the victims that he had insider knowledge of development plans with respect to the purported real estate.  Neppalli would request a specific amount of money within a short timeframe, sometimes the same day, to facilitate closing the transaction.  Neppalli promised a return of the principal investment plus a profit within a few months, often asking his victims not to discuss the transaction with other members of the community or referencing a non-disclosure agreement.  Neppalli used the funds from these victims to pay back earlier investors who believed that he was returning their original investment and legitimate capital gains.

[csrcsr]

ipdu dorikonodu donga ani @Sucker uncel upadesham chesi pothadu

[Pavanonline]

1 hour ago, csrcsr said:

https://www.justice.gov/usao-ednc/pr/cary-man-sentenced-prison-ponzi-scheme

 

The investigation revealed Neppalli relied on his good standing within the Indian American community in Cary to defraud numerous victims under the false pretense that he would invest their money in a legitimate real estate development in the Orange County area.  Neppalli leveraged his employment with the town of Chapel Hill to convince the victims that he had insider knowledge of development plans with respect to the purported real estate.  Neppalli would request a specific amount of money within a short timeframe, sometimes the same day, to facilitate closing the transaction.  Neppalli promised a return of the principal investment plus a profit within a few months, often asking his victims not to discuss the transaction with other members of the community or referencing a non-disclosure agreement.  Neppalli used the funds from these victims to pay back earlier investors who believed that he was returning their original investment and legitimate capital gains.

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