Students Among Investors Hit by Fraudulent Scheme, SEC Says

At least 15 people, including college students, were induced to invest more than $400,000 through a fraudulent scheme run by Pathyam Patel and his purported company, Infinity Wealth Management LLC, the SEC said.

Patel deceived the clients from January 2019 through March 2023 by making false and misleading statements about his and Infinity’s qualifications, how he would invest their funds, and the profitability of the investments, according to a complaint the Securities and Exchange Commission filed Friday in the US District Court for the Northern District of Alabama.

Patel also charged clients thousands of dollars in bogus “fees” and misappropriated ...