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SEC Shuts Down Ponzi Scheme Targeting Persian-Jewish Community in Los Angeles

The SEC alleges that for the past two years, Shervin Neman raised more than $7.5 million from investors by claiming to be a hedge fund manager. Although Neman promised investors exorbitant returns resulting from his investing acumen and access to pre-IPO shares of well-known companies, what they actually received was simply other investors’ money in hallmark Ponzi scheme fashion.

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Printed from: https://www.jewishpress.com/news/us-news/sec-shuts-down-ponzi-scheme-targeting-persian-jewish-community-in-los-angeles/2012/04/17/

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