Man found guilty of wire fraud in elaborate tech scam involving space travel, robotics : Desi Tejam

[Spartan]

At least that’s what Acting United States Attorney Patrick D. Robbins called it after a federal jury convicted a man who scammed investors by basically inventing a company with no legitimate business. Ramesh Kris Nathan was found guilty of six counts of wire fraud and two counts of money laundering following an eight-day jury trial, according to the U.S. Attorney’s Office.

The company, Relativity Research Fund, Inc. had a bank account in San Francisco, and very little else. But according to Nathan, 43, the company was a bold startup involved in the research and development of advanced technologies.

These technologies, according to officials, included prototype spacecraft, space-related propulsion systems, and robotics. Nathan convinced investors that their money would fund the company and made false promises of future trading of the company’s shares on the Nasdaq Private Market.

“Ramesh Nathan spun fantastic tales about space travel technology and advanced robotics to entice investors into funding his company, but all he had to offer was science fiction,” said Robbins. “He deceived his investors, many of whom were veterans, about a nonexistent business. Then he used the ill-gotten funds to line his own pockets.”

“Ramesh Nathan orchestrated a scheme rooted in deception, betraying the trust of investors for his own gain,” said FBI Special Agent in Charge Sanjay Virmani. “Today’s guilty verdict reflects the seriousness of his crimes and brings justice to the victims he defrauded.”

Trial evidence showed that Nathan had induced potential investors by making false and misleading claims on his company’s website, in promotional materials and emails. Among other things, he claimed that Relativity was developing advanced robotics and space travel technology.

He also told outlandish lies, claiming that the company had significant capital investments, worldwide officers, over 15,000 employees, and tens of billions in profit and revenue. Nathan would launder investor funds through various bank accounts and then used the money for personal expenses and transfers to his mother and then-girlfriend, the jury found.

The fraudulent scheme was carried out by recruiting an intermediary to share the lies with investors, many of whom were veterans, according to officials.

Nathan faces a maximum of 20 years in prison for each count of wire fraud and 10 years for each count of money laundering. He will next appear in court on June 13.

[Android_Halwa]

He is now eligible to be given 59 acres in Vizag…

[Android_Halwa]

4 minutes ago, Spartan said:

He also told outlandish lies, claiming that the company had significant capital investments, worldwide officers, over 15,000 employees, and tens of billions in profit and revenue. Nathan would launder investor funds through various bank accounts and then used the money for personal expenses and transfers to his mother and then-girlfriend, the jury found.

 

[Spartan]

FBI Special Agent in Charge Sanjay Virmani

[enigmatic]

trump tatha ki donate chesthe free chesthadu kada siksha padina  🤔

[Moon_Walker]

1 hour ago, Spartan said:

FBI Special Agent in Charge Sanjay Virmaniamaneni

Correction 

[JohnyGalt]

2 hours ago, Moon_Walker said:

Correction 

Correction: Veeramachaneni 

Naa godugullara, yaada kellina yidhe 

[praying]

4 hours ago, Android_Halwa said:

He is now eligible to be given 59 acres in Vizag…

jagan mamayya aithe vedi daggara kuda tengetodu....

[Android_Halwa]

Just now, praying said:

jagan mamayya aithe vedi daggara kuda tengetodu....

Vaadi degara 10gadam…dongala deggara 10gadam..!!! 

Vaadi ki bhumulu appaginchadam…dongalani pilichi bhumulu ivvadam…..emi bratuku ra ayya..! 

Both are not the same antunna pejanikam…

[praying]

Just now, Android_Halwa said:

Vaadi degara 10gadam…dongala deggara 10gadam..!!! 

Vaadi ki bhumulu appaginchadam…dongalani pilichi bhumulu ivvadam…..emi bratuku ra ayya..! 

Both are not the same antunna pejanikam…

mana party president sajjala forest land 65 acres dobbesadu anta recent updates elli choosuko po...

[Android_Halwa]

Just now, praying said:

mana party president sajjala forest land 65 acres dobbesadu anta recent updates elli choosuko po...

Sajjala gadu forest land dobbesindu ani manollu ekanga madhurawada la lo ne esesinaru kadayya…

Idekkadi nyayam ….kavalante meeru kuda forest land eseyandi…anthe kani urban land 10gestham ante etla ?

[praying]

1 minute ago, Android_Halwa said:

Sajjala gadu forest land dobbesindu ani manollu ekanga madhurawada la lo ne esesinaru kadayya…

Idekkadi nyayam ….kavalante meeru kuda forest land eseyandi…anthe kani urban land 10gestham ante etla ?

eda migilayi uncle inka forests... monnane mi A2 gadu vyavasam chesukovali ani 100 acres tengadu... adu em sesthado gani okka roju poyi oka photo pettadu anthe..

[Anta Assamey]



[Redarya]

22 minutes ago, JohnyGalt said:

Correction: Veeramachaneni 

Naa godugullara, yaada kellina yidhe 

Orey lanko seat. Vadu FBi agent anta. Nee edupu gruddha

[Android_Halwa]

9 minutes ago, praying said:

eda migilayi uncle inka forests... monnane mi A2 gadu vyavasam chesukovali ani 100 acres tengadu... adu em sesthado gani okka roju poyi oka photo pettadu anthe..

Vaarini…vyavasayam ani 100 dengada ?

Aithe ipudu maa baboru development ani 200 10galsinde…entha dhiryam kakapothey 100 esestada…agu, ipudu dhebba ki dhebba…billions of dollars investment and jobs ani baboru malli inkoka 200 esestadu…

Urgent ga oka LLc petteyalsinde…