Indian American investment advisor indicted in $400,000 ponzi scheme

The Alabama Securities Commission has indicted 23-year-old Indian-American investment adviser Pathyam Patel, also known as Pat Patel, for his alleged involvement in a Ponzi scheme defrauding investors of over $400,000. Patel, originally from Gujarat’s Gandhinagar, stands accused of selling unregistered investment contracts to at least six victims, promising high returns through a fictitious investment firm named ‘Infinity Wealth Management’.
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