WASHINGTON, July 9 -- The U.S. Department of Justice's Criminal Division issued the following news release:
A Nevada man and a Canadian and British national were sentenced today to 36 months in prison and three years of supervised release, and 136 months in prison and three years of supervised release, respectively, for participating in a scheme to defraud thousands of investors of tens of millions of dollars between 2018 and 2022.
According to court documents, Neil Suresh Chandran, 54, a foreign national residing in Nevada and California, created companies that he falsely claimed were about to be purchased by a consortium of billionaires at extraordinary valuations. Chandran and others solicited more than $45 million from over 10,000 inv...