The US Securities and Exchange Commission is suing brothers Akshay Kamboj and Dev Kamboj, alleging violations of federal securities laws, according to a new complaint in federal court.
Beginning in April 2022, the Kamboj brothers used fake trading data and forged audit reports to convince dozens of investors to invest approximately $16 million in a currency trading hedge fund managed by their firm, Crawford Ventures IM, LLC, the agency’s complaint filed Friday in the United States District Court for the Southern District of New York says.
By December 2023, the fund announced plans to voluntarily liquidate amid substantial trading losses. ...
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