The FBI alleges that Dalpour operated a classic Ponzi scheme, using investors’ funds to pay earlier investors and for personal expenses. U.S. attorney Damian Williams stated that the promises made by Dalpour were false, and he had been running the scheme since 2020, targeting victims both domestically and internationally.
According to the indictment, Dalpour allegedly fabricated contracts and bank records to attract investors, offering annual returns of up to 42%. It is claimed that he diverted investors’ funds for personal use instead of investing in the ventures promised, and he misled investors by falsely assuring them that their funds were insured and secure.
If convicted of wire fraud, Dalpour could face up to 20 years in prison.