US Detains Indian-Origin Tech Entrepreneur For Alleged $45 Million Investment Fraud

Neil Chandran, a 50-year-old Indian-origin tech entrepreneur, was detained in the United States on June 29 for alleged investment fraud. He is accused of defrauding over 10,000 individuals out of over $45 million, which netted him multiple expensive automobiles and real properties. Chandran operated a number of technology firms that he employed in a conspiracy to defraud investors by falsely guaranteeing exceptionally high profits based on his enterprises.