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Austin gets Senate confirmation hearing today

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CEO Charged in $119 Million Fraud Targeting South Asian Americans

SEC alleges SiliconSage Builders CEO
Sanjeev Acharya targeted community members in Ponzi scheme.
The SEC has charged a California-based real estate development company and its owner in connection with an alleged $119 million fraudulent offering that turned out to be a Ponzi scheme.
According to the SEC’s complaint, SiliconSage Builders LLC (aka Silicon Sage Builders) and its sole owner Sanjeev Acharya raised approximately $119.2 million from 250 retail investors, most of whom were part of Northern California’s South Asian community. Acharya allegedly lied to investors that the company was profitable and promised investment returns as a high as 23% per year.
“Acharya falsely described Silicon Sage Builders and all of its real estate projects as efficient, successful, and profitable when, in fact, from 2016 to 2019, all but one of his projects had significant cost overruns and did not generate enough revenue to cover the overruns,” said the complaint. ....

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SEC Charges Company and CEO for $119 Million Securities Fraud Targeting Members of the South Asian American Community

(1)
Washington, D.C. (Newsfile Corp. - December 21, 2020) - The Securities and Exchange Commission today announced that it filed an emergency action against California-based real estate development company SiliconSage Builders LLC, aka Silicon Sage Builders, and its sole owner, Sanjeev Acharya, in connection with an alleged $119 million fraudulent offering.
According to the SEC s complaint, Silicon Sage Builders and Acharya raised money from approximately 250 retail investors, most of whom were members of the Northern California South Asian community, by falsely describing Silicon Sage Builders real estate business as profitable and promising investors exorbitant returns. In fact, as the complaint alleges, from 2016 to 2019, all but one of Silicon Sage Builders projects had significant cost overruns and did not generate enough money to pay investors the promised returns. Acharya, as alleged in the complaint, misled investors into believing the payments they received w ....

United States , Los Angeles , Kostenloser Wertpapierhandel , Malka Patel , Sanjeev Acharya , Tamar Braz , Christopher Conte , Amy Longo , Marc Blau , Exchange Commission , Siliconsage Builders , Los Angeles Regional Office , Dc Newsfile Corp , Office Of Investor Education , Us District Court , Silicon Sage Builders , Northern California South Asian , Silicon Sage Builder , Associate Regional Director , Angeles Regional , Northern District , Michael Sew Hoy , Investor Education , Have Something , Someone Selling , ஒன்றுபட்டது மாநிலங்களில் ,

MIL-OSI USA: SEC Charges Company and CEO for $119 Million Securities Fraud Targeting Members of the South Asian American Community

MIL-OSI USA: SEC Charges Company and CEO for $119 Million Securities Fraud Targeting Members of the South Asian American Community
foreignaffairs.co.nz - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from foreignaffairs.co.nz Daily Mail and Mail on Sunday newspapers.

United States , Los Angeles , Malka Patel , Sanjeev Acharya , Tamar Braz , Christopher Conte , Amy Longo , Marc Blau , Exchange Commission , Los Angeles Regional Office , Office Of Investor Education , Us District Court , Siliconsage Builders , Silicon Sage Builders , Northern California South Asian , Silicon Sage Builder , Associate Regional Director , Angeles Regional , Northern District , Michael Sew Hoy , Investor Education , Have Something , Someone Selling , ஒன்றுபட்டது மாநிலங்களில் , லாஸ் ஏஞ்சல்ஸ் , அல்கா படேல் ,

SEC.gov | SEC Charges Company and CEO for $119 Million Securities Fraud Targeting Members of the South Asian American Community

FOR IMMEDIATE RELEASE
Washington D.C., Dec. 21, 2020
The Securities and Exchange Commission today announced that it filed an emergency action against California-based real estate development company SiliconSage Builders LLC, aka Silicon Sage Builders, and its sole owner, Sanjeev Acharya, in connection with an alleged $119 million fraudulent offering.
According to the SEC s complaint, Silicon Sage Builders and Acharya raised money from approximately 250 retail investors, most of whom were members of the Northern California South Asian community, by falsely describing Silicon Sage Builders real estate business as profitable and promising investors exorbitant returns. In fact, as the complaint alleges, from 2016 to 2019, all but one of Silicon Sage Builders projects had significant cost overruns and did not generate enough money to pay investors the promised returns. Acharya, as alleged in the complaint, misled investors into believing the payme ....

United States , Los Angeles , Malka Patel , Sanjeev Acharya , Tamar Braz , Christopher Conte , Amy Longo , Marc Blau , Exchange Commission , Los Angeles Regional Office , Office Of Investor Education , Us District Court , Siliconsage Builders , Silicon Sage Builders , Northern California South Asian , Silicon Sage Builder , Associate Regional Director , Angeles Regional , Northern District , Michael Sew Hoy , Investor Education , Have Something , Someone Selling , ஒன்றுபட்டது மாநிலங்களில் , லாஸ் ஏஞ்சல்ஸ் , அல்கா படேல் ,