Fugitive VC Partner Ordered to Surrender $64 Million in SEC Case

A former venture capital fund manager who fled to India to avoid fraud charges was ordered by a US appeals court to surrender $64 million to the SEC, though the regulator will need to determine if assets like real estate, jewelry and a Hermès handbag are actually owned by him or his wife.

Iftikar Ahmed, a former Oak Investment Partners executive, and his wife, Shalini Ahmed, have been fighting the Securities and Exchange Commission disgorgement order, claiming it was improperly enlarged from the original $42 million after a 2021 change in the law and that many of their assets can’t ...