Los Angeles, CA – The Securities and Exchange Commission (SEC) charged Pedram Abraham Mehrian with orchestrating a fraudulent Ponzi-like scheme through his companies, Strategic Legacy Investment Group Inc. (SLIG) and SLIG High Interest Liquid Savings Co. SEC Complaint Link The scheme deceived over 150 investors, defrauding them of millions of dollars through the sale of promissory notes. The SEC alleged that Mehrian used deceptive tactics, falsely claiming these promissory notes were "recession-proof" securities with "guaranteed interest" rates higher than market averages, returns that would "outpace inflation," and assurances that the promissory notes were "backed by SLIG's portfolio of assets," despite SLIG having no actual assets. Final Judgment The SEC won the civil suit, and the judgment imposed the following obligations: - Strategic Legacy Investment Group Inc. is obligated to pay $6.5 million.
- SLIG High Interest Liquid Savings Co. is obligated to pay $1.9 million.
- Pedram Abraham Mehrian is obligated to pay $1.2 million.
Conclusion Strategic Legacy Investment Group Inc. and SLIG High Interest Liquid Savings Co. are broke, never owned any assets, and due to mismanagement, all their projects went into foreclosure. Mehrian is personally responsible for paying only $1.2 million, a mere 12.5% of the total amount defrauded. If ever paid, this amount might be divided proportionately among the promissory note holders. This judgment serves as a stark reminder of the importance of skepticism when we faced with investment opportunities that seem too good to be true. The irresistible interest rates offered were an overseen red flag. "The deception perpetrated by Pedram Abraham Mehrian underscores the devastating impact of financial fraud on elder investors and future generations who place their trust in such schemes" Regrettably, some well-intentioned but naive investors still believe this is just a temporary setback, trusting Mehrian's promise to recover all the foreclosed properties and pay off all promissory notes with interest. The reality, however, is that we would all be in a better position today if we had never met or trusted this man, who is now awaiting trial on federal charges for five counts of SBA wire fraud and with the possibility to serve prison time. |
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