Pat Patel, a 23-year-old Indian-origin investment adviser based in Alabama, is under scrutiny for allegedly engaging in a fraud scheme that defrauded investors of over $4,00,000.
Operating under the name Pathyam Patel, he purportedly deceived investors by promising substantial returns on their investments.
However, instead of utilizing their funds for legitimate investment purposes, Patel allegedly diverted the money for personal use, including gambling expenses.
The allegations against Patel include the sale of unregistered investment contracts to at least six victims. These contracts were supposedly associated with a fictitious investment firm named ‘Infinity Wealth Management’.
Despite assuring investors that their principal amounts were secure, Patel reportedly failed to deliver on his promises, ultimately betraying their trust.
Furthermore, investigations revealed that Patel’s investment firm was not registered with the US Securities and Exchange Commission (SEC), raising questions about its legitimacy.
His actions have led to serious legal repercussions, with Patel being indicted on nine counts of securities law violations.
A 23 year old Telugu student, Sreeja Reddy Koya, has been reported missing in Dorchester,…
Ramayana has opened in the theatres worldwide today and the reception for Ranbir Kapoor's portrayal…
