Securities Law News

Georgia Grad Allegedly Ran Ponzi Scheme From His Frat House

May 31, 2019, 7:51 PM

A 2019 University of Georgia graduate drew the attention of a different SEC after he allegedly ran a $269,000 Ponzi scheme from his fraternity house.

Syed Arham Arbab spent his last year at the Southeastern Conference school soliciting investments in his purported hedge fund, the Securities and Exchange Commission’s May 31 complaint in the U.S. District court for the Middle District of Georgia said.

Arbab told investors he’d already earned his undergraduate degree and was pursuing a master’s in business at UGA, although he didn’t actually receive his bachelor’s until this month, the complaint said. He allegedly asked investors to...

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