San Francisco (Crohn) – in the end, everything was just a science fiction.
At least this is what the US lawyer in the United States described Patrick de. Robbins, after a federal jury condemned a man to deceive investors by mainly inventing a company without a legitimate work. Ramish Chris Nathan was convicted of six charges of fraud in wires and two charges of laundering money after the trial of a jury for eight days, according to the US Public Prosecutor’s Office.
The company, the Relativity Research Fund, INC. A bank account in San Francisco, and it was only very little. But according to Nathan, 43, the company was a bold emerging participating in the research and development of advanced technologies.
These technologies, according to officials, included the model spacecraft, space -related payment systems, and robots. Nathan persuaded investors that their money would finance the company and have made false promises to the future trading of the company’s shares in the NASDAQ private market.
“Ramish Nathan weave great tales about satellite travel technology and advanced robots to tempt investors to finance his company, but all he had was science fiction,” Robbins said. “He deceived his investors, and many of them are ancient warriors, for a work that does not exist. Then he used the illegal money to adopt his own pockets.”
“Ramish Nathan has organized a rooted scheme in deception, which betrays investors’ confidence for his own gains,” said the Undersecretary of the FBI at Sanjay Fermanani. “Today’s ruling is guilty reflects the seriousness of its crimes and brings justice to the victims who were fraud.”
Experimental evidence showed that Nathan urged potential investors by submitting wrong and misleading claims on his company’s website, in promotional materials and email messages. Among other things, he claimed that relativity was the development of advanced robot technology and travel technology.
Outlandish Lies also told, claiming that the company has significant capital investments, officers around the world, more than 15,000 employees, and tens of billions of profits and revenues. The jury found that Nathan was washing the investor’s money through various bank accounts, then used the money for personal expenses and transfers to his mother and then his girlfriend at the time.
The fraudulent plan was implemented by employing a broker to share lies with investors, and many of them are veterans, according to officials.
Nathan faces a maximum of 20 years in prison for all charges of wire fraud and 10 years for each number of money laundering. He will then be in court on June 13.