The fraudulent activities involved falsifying key documents in the loan applications. Mehrian grossly misrepresented the number of employees, inflated revenue figures, and fabricated the business purposes of the applicant entities. Furthermore, he falsely certified that the loan proceeds would be used for legitimate working capital needs, ensuring that every aspect of the application appeared credible. Mehrian's scheme sought to extract a staggering $2.2 million in EIDL funds from the SBA. While his efforts were not fully successful, he managed to secure approximately $599,900 before the fraudulent activities were uncovered. Legal Proceedings and Upcoming Trial Following his arrest, Mehrian pleaded not guilty to all charges. He was released on bond, which was paid by his mother in cash, under conditions set by the court. The criminal case against Pedram Mehrian highlights a deeply concerning breach of trust, this time with the American Government, as he exploited a system designed to provide critical financial support to businesses struggling during the pandemic. SEC Ponzi scheme Mehrian was also charged by the Securities and Exchange Commission (SEC) for orchestrating a Ponzi scheme involving the sale of Promissory Notes. Over 150 investors were affected, collectively losing millions of dollars. The FBI is continuing its investigation into the case. Who are we? We’re a growing group of proactive investors who have come together after our experiences with SLIG investments. The response to our previous post has been overwhelming. as so many investors were left in dark. . Given the size of our group, anonymity is no longer a concern—we’re united in our mission to provide information as objective as possible, and to ensure that no one else falls victim to the same issues we faced. In the coming weeks, we will be sending more newsletters that include updates on the Mehrian criminal case, Knowlton, Barton, Tamarind South, and other pertinent issues. Feel free to drop us a note. | 
Comments
Post a Comment