Rise and fall, small fishes cannot escape in usa.
Former UGA Student Pleads Guilty To Running Million-Dollar Ponzi Scheme From Frat House
A former University of Georgia student has pleaded guilty to securities fraud for running a $1 million ponzi scheme out of his fraternity house while a student, according to Bloomberg Law. Syed Arham Arbab pleaded guilty to securities fraud in the U.S. District Court for the Middle District of Georgia, according to the Department of Justice. He also faces a SEC suit, separate from the DOJ case against him, in the same court. As part of his plea, Arbab admitted to falsely promising investors, including UGA students, returns as high as 56%. He told potential investors that a UGA alumnus who went on to play in the NFL ... (full story)