Illinois Man Defrauded Islamic Community Investors, SEC Says

A business owner in Peoria, Ill., defrauded three investors from the local Islamic community by falsely claiming his company had successful overseas operations when it had no business at all, the SEC said.

Irfan Mohammed told the investors that his company Dgtal World LLC operated a payment processing system in Asia and was expanding to the US, causing them to lose around $385,000 from January 2021 through March 2023, according to the Securities and Exchange Commission’s complaint filed Dec. 12 in the US District Court for the Central District of Illinois.

Mohammed created a fake website with testimonials from nonexistent ...