California Man Allegedly Masterminds $37,000,000 Ponzi Scheme, Draining Trove of Cash From More than 100 Victims’ Bank Accounts: SEC

The U.S. Securities and Exchange Commission (SEC) is accusing a California entrepreneur and his companies of executing a multi-million dollar Ponzi scheme. The SEC says Satish Appalakutty and his businesses, Lorven Funds and Lorven Advisors LLC, drained $37 million from over 100 people. Prosecutors say that between the start of 2019 through March 2024, Appalakutty […] The post California Man Allegedly Masterminds $37,000,000 Ponzi Scheme, Draining Trove of Cash From More than 100 Victims’ Bank Accounts: SEC appeared first on The Daily Hodl.