LAS VEGAS (KLAS) – Federal agents arrested a Las Vegas man on Wednesday on charges in connection with a scheme that defrauded more than 10,000 people out of a combined $45 million, prosecutors said.
Neil Chandran, 50, “[defrauded] investors by falsely promising extremely high returns” as part of several technology companies under the umbrella name ViRSE, prosecutors said.
“The indictment alleges that Chandran caused other individuals to make various materially false and misleading representations to investors,” prosecutors said.
Chandran faces charges of wire fraud and engaging in monetary transactions in criminally derived property.
If convicted, he faces decades in prison. Because the case is federal, a booking photo of Chandran was not provided.
Prosecutors added Chandran’s assets include 39 Teslas, which are subject to federal forfeiture.
Potential victims of Chandran can contact authorities at justice.gov/criminal-vns/united-states-v-chandran.