ManhattanA businessman based in , has been charged with allegedly running a $43 million Ponzi scheme with promises of luxury accommodations and cryptocurrency trading. Idin Dalpour, who directed the funds he collected from investors to personal expenses, will appear before the judge.
43 Million Dollar Ponzi Scheme Scandal Comes to Light
new YorkA man from the notorious Manhattan district has been charged with fraud in connection with a long-running Ponzi scheme that allegedly raised $43 million from investors. According to the indictment prepared by the US Attorney’s Office for the Southern District of New York, a person named Idin Dalpour was taken into custody yesterday morning. The person is expected to appear before the judge during the day.
U.S. Attorney Damian Williams said Dalpour promised investors he would earn high returns by investing in a Las Vegas lodging facility and cryptocurrency trading business. Williams stated that “Dolpour’s claims are a mirage and that he is actually running a classic Ponzi scheme in which he pays investors with the money of other investors.”
Allegedly, Dalpour targeted investors both within the United States and internationally from early 2022 until April of this year. It is stated that during this process, the collected funds were not used for the purposes claimed, but were instead personally embezzled by Dalpour and payments were made to previous investors with the money of new investors.
Last November, when confronted by victims of the Ponzi scheme, Dalpour said, “What can you do? You can just put me in jail.” He was quoted as saying.
