Tech Group Owner Arrested for Alleged Investment Fraud Scheme

A Nevada man was arrested in Los Angeles in connection with an alleged $45 million dollar investment fraud scheme involving his group of technology companies, according to the Department of Justice on Wednesday.

Neil Chandran, of Las Vegas, allegedly promised high returns to investors based on the false premise that one or more of his companies, which operated as “ViRSE,” was about to be acquired, according to the Justice Department.

He has been charged with three counts of wire fraud and two counts of engaging in monetary transactions in criminally derived property. His sentence will be determined by a federal ...