An insurance salesman who allegedly facilitated a fraudulent investment scheme by falsely claiming he was connected to the Qatari royal family must pay $1 million in disgorgement and penalties following a default judgment in the SEC’s suit against him.
Ali Derakhshanfar failed to answer or defend the Securities and Exchange Commission’s fraud claims filed in the US District Court for the Central District of California last March, Judge David O. Carter said in the ruling.
The default judgment marks the latest win for the regulator as it zeroes in on investor harm and straightforward fraud under the second Trump administration. ...
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